A new study by researchers from University College London (UCL) and the International Institute for Sustainable Development (IISD) finds that there is “no room for new fossil fuel projects in a 1.5°C-aligned world”.

At the 28th United Nations Climate Change Conference (COP 28) in late 2023, 198 governments officially recognised the urgency to “transition away from fossil fuels in energy systems” in order to reach net zero targets by 2050.

However, oil and gas producers continue to expand exploration and drill for resources, and are being supported by governments. Indeed, the Australian government recently released a strategy outlining how the country will ramp up production and use of gas until ‘2050 and beyond’.

According to IISD figures, governments collectively expect to produce 29% more oil and 82% more gas by 2030 than is consistent with a 1.5°C global warming pathway. By 2050, the gap widens to 260% for oil and 210% for gas.

However, a new study carried out by IISD, alongside UCL...