Page 11 - FSUOGM Week 46 2021

FSUOGM ENERGY TRANSITION FSUOGM

Beyond Oil and Gas Alliance aims

to end oil and gas production

GLOBAL THE Beyond Oil and Gas Alliance (BOGA) has run out,” he said.
is calling for an immediate end to new licens- The other also countries have current or
The initiative is led by ing rounds for oil and gas exploration, and has potential oil and gas reserves, and are taking the
Denmark and Costa signed up 11 governments to a promise to end oil lead in promising to keep the hydrocarbons in
Rica. and gas production by Paris Agreement-aligned the ground.
date. The body features countries that have
The initiative, which is led by the Danish and committed to ending oil and gas produc-
Costa Rican governments and was launched at tion by a certain date. Governments and
COP26 in Glasgow on November 11, has called sub-national governments can also support
for “bold and tangible action, not talk” to move the movement without setting an end-date
beyond oil and gas. for oil and gas.
The alliance is supported by 11 governments Jorgensen said the group hopes to unveil new
and views an end to oil and gas production as a members in the coming day, and will be able to
key component of meeting the Paris Agreement’s start a major conversation on ending oil and gas
1.5-degree target. and to develop new strategies to pursue a just
“The IPPC has sounded a code red for energy transition.
humanity, because there is no future for oil and It also aims to increase the political pressure
gas in a 1.5-degree world,” said Danish Minister on oil and gas producing countries to work
for Climate, Energy and Utilities Dan Jorgensen towards aligning their energy strategies with the
“The fossil era must come to an end.” Paris Agreement goals.
The alliance is the first state-led initative to “Last week’s flurry of announcements created
bring the phasing out of oil and gas production a lot of headlines, but initiatives like the Beyond
into the international area. Oil and Gas Alliance show what real climate
The alliance currently features: Denmark; leadership looks like. If we want to keep global
France; Ireland; Sweden; Wales; Iceland; Costa heating below 1.5 degrees, a managed decline of
Rica; Quebec; New Zealand and California. Italy fossil fuel production is the only way. This alli-
supports the alliance as a friend. ance is a great first step to start that process," said
The group does not feature any major oil and May Boeve, executive director of 350.org
gas producers, and crucially does not feature the The group’s aims follow the conclusions of the
UK, the COP26 host. International Energy Agency (IAE), which said
Denmark is taking the lead by setting 2050 recently that there can be no new investment in
as the date for the end of oil and gas production, new fossil fuel production projects if the world is
and has committed to ceasing immediately all oil to meet the 1.5-degree target.
and gas licensing. To achieve this, the world must achieve net
"Our goal is not small, our ambition is not zero by 2050, a goal that is “narrow but still
modest. We hope that today will mark the begin- achievable,” the IEA said. To reach this target,
ning of the end of oil and gas," said Jorgensen. no further upstream projects are needed beyond
“The science has spoken and the time for O&G those already approved. ™

Week 46 17•November•2021 www. NEWSBASE .com P11