The latest #IPCC report is a dire reminder that climate change is here & getting worse.

This report makes things abundantly clear: the only way to preserve a livable climate for current & future generations is through dismantling the fossil fuel industry.

A thread 👇 1/9
First, (re)stating the obvious: Fossil fuels are the problem.
The @IPCC makes it clear that the main drivers of the climate crisis are the rising emissions of CO2 and methane. The combustion of fossil fuels has been responsible for 86% of CO2 emissions over the past decade. 2/9
@IPCC We can't repeat enough: fossil fuel companies and the wealthiest countries are overwhelmingly responsible for the climate crisis. 3/9
@IPCC The most chilling finding in the report: Due to past emissions, all mapped scenarios lead to more than 1.5°C of warming by mid-century. Only one scenario allows temperatures to decline back below that level by the end of the century. 4/9
@IPCC Reaching this trajectory (light blue) that moves temperatures back below 1.5°C requires deep and immediate cuts in both CO2 and methane emissions. Which means we urgently need to phase out fossil fuels from the world economy and virtually eradicate them by 2050. 5/9 Image
@IPCC In short: both the combustion and the production of fossil fuels are the main drivers of the climate crisis and both need to be tackled urgently if we want to retain a chance to avoid ever escalating impacts. 6/9
@IPCC Hundreds of civil society organizations worldwide have been calling for a managed decline of global fossil fuel production that is rooted in equity and climate justice.
lofotendeclaration.org 7/9
@IPCC This call is now being echoed by UN Secretary General @antonioguterres un.org/press/en/2021/… while the @IEA agrees that reaching net zero emissions by 2050 means no new oil and gas anywhere, ever. 8/9
@IPCC @antonioguterres @IEA Concretely, we call on all countries to:
👉 Ban new oil & gas exploration & extraction
👉 Plan equitable phase out of existing production aligned w/ 1.5°C
👉 End all forms of public support for fossil fuel projects
👉 Plan just transition for workers & affected communities

9/9

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More from @PriceofOil

25 Aug
THREAD: News just broke from @Reuters of a potentially critical new initiative to be launched next month: the Beyond Oil and Gas Alliance (#BOGA). Read the article here: reuters.com/business/susta…
@Reuters #BOGA will be the 1st diplomatic initiative acknowledging the need for governments to manage the decline of oil and gas production as a key tool to address the #climate crisis. It’s a big deal and something we’ve been calling for for a long time.
@Reuters #BOGA has the potential to help reframe the global climate conversation to ensure phasing out production is seen as a key tenet of climate leadership. Why is this important?
Read 19 tweets
20 Apr 20
It turns out today's been a pretty wild ride for our Twitter handle! 🥳

More seriously & since you're here, we've got *ADVICE*.

Faced w/ #COVID19, governments have a choice: Build resilient societies to prioritize health & safety of #PeopleNotPolluters OR bail out fossil fuels.
The bottom line: Today, several years of #fracking companies going bankrupt, several decades of coal's decline — these are what an UNMANAGED decline of the fossil fuel industry looks like.

It hurts workers & communities badly, while fossil fuel executives get golden parachutes.
Today's wild ride of oil futures prices is a big deal, but the industry isn't disappearing tomorrow.

Instead, the current madness is driven by a 1-2-3 punch of:

- Demand destruction from #COVID19
- Global price wars
- Structural decline from renewables & decarbonization
Read 15 tweets

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