An analysis by the International Institute for Sustainable Development (IISD) reveals a concerning trend: seven of the 20 largest fossil fuel-producing countries fail to mention fossil fuel production in their Nationally Determined Contributions (NDCs). Additionally, six of these countries expressed their intention to continue or even increase production.
Vulnerability to Market Shocks and the Need for Transition Strategies
Paola Yanguas Parra, IISD policy advisor, emphasizes the vulnerability of fossil fuel producers who continue mining and drilling in a world transitioning away from fossil fuels.
She stresses that NDCs and long-term strategies can guide an orderly transition and attract investments in alternative growth sectors.
A Call for Action: Mapping a Transition Away from Fossil Fuels
With the upcoming submission of the next generation of NDCs in 2025, the first since the COP28 international agreement to transition away from fossil fuels, the IISD report urges fossil fuel producers to outline a clear roadmap for phasing out fossil fuel production.
Five Key Elements for Climate Plans
The report identifies five key elements that governments can incorporate into their NDCs and long-term strategies:
- Information on Fossil Fuel Production: Comprehensive data on national fossil fuel production, future plans, reserves, and support.
- Targets and Pathways for Phasing Out Production: Commitments to reduce or eliminate fossil fuel production by specific dates, including clear pathways and timelines.
- Policies to Disincentivize Production: Measures such as moratoriums on new development, production caps, subsidy reform, and increased extraction taxes.
- Support for Workers and Communities: Policies and measures to facilitate a just transition for workers and communities affected by the shift away from fossil fuels.
- Information on Equity and International Cooperation: Details on considerations of equity, international support, and collaboration in the transition process.
The Urgency of Aligning Climate Plans with Global Needs
Natalie Jones, another IISD policy advisor, underscores the urgency of the situation, stating that “The science is clear: there is no room for new fossil fuel infrastructure in any credible pathway to Paris goals, and fossil fuel production and consumption must be rapidly phased out.”
The Time for Action is Now
The report’s findings highlight the critical need for fossil fuel-producing countries to align their climate plans with the urgent global imperative to transition to a low-carbon future.
By incorporating these five key elements into their NDCs and long-term strategies, governments can demonstrate their commitment to a sustainable and equitable energy transition.