The Situation
Avoiding dangerous levels of climate change and delivering on the Paris Agreement require a dramatic shift in the way that we produce and use energy. Delivering on the UAE Consensus agreed at COP28 and establishing the enabling conditions for oil and gas producing countries to transition away from fossil fuels is a critical part of that challenge.
Estimates suggest that globally, if we are to have a reasonable chance of avoiding dangerous climate change, by 2050 we can burn no more than:
42%
of current proven oil reserves