A report by Climate Action Tracker says the world is witnessing what is being described as a “gold rush” for new fossil fuel projects.
According to a new report by leading climate change researchers, soaring energy prices spurred by Russia’s invasion of Ukraine have led to new investment in oil and gas.
The report said the world risks being locked into “irreversible warming”.
It said there is broad consensus that the emission of gases produced by fossil fuels must be dramatically cut by 2030, that is seen as the only path that would keep global temperature rises to 1.5 degrees and avoid the most damaging effects of climate change.
The report comes as diplomats meet at the UN Bonn Climate Change conference amid new, energy security worries.
COMMENTS