Stimulus Plans of G20 Countries Commit to Higher Fossil Fuel Investments
The Production Gap Report report measures the gap between Paris Agreement goals and countries’ planned and projected production of coal, oil, and gas-
To follow a 1.5°C-consistent pathway, the world will need to decrease fossil fuel production by roughly 6% per year between 2020 and 2030. Countries are instead planning and projecting an average annual increase of 2%, which by 2030 would result in more than double the production consistent with the 1.5°C limit.
Governments of G20 countries have committed $233 billion to fossil fuel-related activities in their stimulus plans, versus $146 billion for green and low-carbon alternatives.