Oil and gas policy

Most countries have hard-to-abate “Achilles’ heel” sectors for domestic environmental action; in Latin America, these are large export-oriented primary industries like fossil-fuel extraction, mining, and industrial agriculture.

Global fossil co₂ emissions are expected to grow 1.1% in 2023 despite record progress in clean energy. A renewed focus on limiting the use of coal, oil, and gas is needed. 

How are global emissions projected to develop in the years to come? To reach pathways consistent with the goals in the Paris Agreement, global CO₂ emissions should be falling by around five percent this year.

Global fossil co₂ emissions are expected to grow 1.0% in 2022 as the COVID recovery continues amidst turmoil in energy markets. Growth in oil use, particularly aviation, and coal use are behind most of the increase in 2022.