Production Gap Report 2023

By Amigos IAS

Why is it in the news?

  • The 2023 Production Gap Report, titled “Phasing down or phasing up,” has been unveiled.
About the Report

·       First released in 2019.

·       Produced by organizations including the Stockholm Environment Institute (SEI), Climate Analytics, E3G, International Institute for Sustainable Development (IISD), and the UN Environment Programme (UNEP).

 

Key Findings of the Report 

  • Production Gap: If global carbon dioxide (CO2) emissions continue at the current pace, the world could exceed the remaining emissions budget compatible with a 50% chance of limiting long-term warming to 1.5°C by 2030.
  • Governments planning to produce 110% more fossil fuels in 2030 than aligned with 1.5°C limit.
  • Conflicts between Commitments: Major producer countries aim for net-zero emissions but not reducing coal, oil, and gas production to meet 1.5°C targets.
  • Increase in Fossil Fuel Production: Government plans foresee growth in global coal production until 2030 and oil and gas production until at least 2050.
  • India’s Nationally Determined Contribution (NDC): India aims to reduce emissions intensity of GDP by 45% by 2030, increase non-fossil power capacity to 50% by 2030, and achieve net-zero emissions by 2070.
  • Lack of policies for a managed wind-down of fossil fuel production in India.

Suggestions from the Report

  • Transparency: Governments should be more transparent in their plans and support for fossil fuel production, aligning them with climate goals.
  • Reduction Targets: Governments should adopt short- and long-term reduction targets for fossil fuel production to complement climate mitigation goals.
  • Equitable Transition: Recognize differentiated responsibilities and capabilities among countries.
  • Countries with greater capacity should pursue ambitious reductions and support transition financing in less-capable countries.

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