Environment

The world’s fossil fuel producers are planning expansions that would blow the planet’s carbon budget twice over, a UN report has found. Experts called the plans “insanity” which “throw humanity’s future into question”.

The energy plans of the petrostates contradicted their climate policies and pledges, the report said. The plans would lead to 460% more coal production, 83% more gas, and 29% more oil in 2030 than it was possible to burn if global temperature rise was to be kept to the internationally agreed 1.5C. The plans would also produce 69% more fossil fuels than is compatible with the riskier 2C target.

The countries responsible for the largest carbon emissions from planned fossil fuel production are India (coal), Saudi Arabia (oil) and Russia (coal, oil and gas). The US and Canada are also planning to be major oil producers, as is the United Arab Emirates. The UAE is hosting the crucial UN climate summit Cop28, which starts on 30 November.