SHARM EL-SHEIKH, EGYPT — COP27 is being held in Egypt as the world faces a number of interconnected crises: deepening climate impacts, widespread food shortages, sky-high energy prices, increasing inequality, and deadly conflict. As the UN climate negotiations begin, advocates today held a press conference to discuss a root cause of many of these challenges — the world’s addiction to oil and gas and the fossil fuel industry profiting from that addiction.
Speakers were united in urging governments to tackle fossil fuels and avoid presenting fossil gas as a ‘climate solution’ of any kind during COP27. Advocates urged negotiators to work
2021: A momentous year for oil and gas supply
The last 12 months have been a breakthrough year on the issue of oil and gas production. Reports like the International Energy Agency’s that found there should be no new oil and gas projects, important government and private sector announcements to curb production, along with numerous major campaign victories, have all created significant momentum. Whether governments, financial institutions and companies have policies to stop new projects and phase-out production aligned with 1.5°C, in a just and fair way, became a recognised test of whether they can claim to be genuine climate leaders.