Oil Companies Must Cut Production by 35% to Meet Paris Climate Accord Numbers by 2040: Report

A new report released Friday claims that if fossil fuel companies want to have any chance of hitting Paris Climate Accord numbers by 2040, they will have to cut production by over a third.

"Oil and gas companies seem to be operating under a business as usual mindset in which they can grow without limit, while taking minimal steps to reduce the greenhouse gas emissions they are responsible for," said environmental advocacy group As You Sow energy program manager Lila Holzman. "This report emphasizes that no company is taking sufficient action to reduce the risk of climate breakdown."

Carbon Tracker's "Balancing the Budget" details the long road for extractive industries "to keep emissions within international climate targets and protect shareholder value." Read Full Article - Salon, November 1, 2019