350.org has expressed deep concern in response to reports that BP, one of the world’s largest oil and gas companies, is set to abandon its target to reduce oil and gas production by 2030.
“BPs reported decision to abandon its oil and gas reduction targets is shameful,” said Andreas Sieber, 350.org. “The science is crystal clear that we must reduce fossil fuels about 6% each year this decade to avoid catastrophic climate change. Rubbing out an oil output reduction target in 2024 is going to be looked back on as bizarre decision and detached from reality – both in terms of climate science but also in light of oil demand peaking within this decade. ”
BP’s reported decision comes at a time when global temperatures are the highest they have been and , extreme weather events are becoming more frequent and severe, communities around the world are bearing the brunt of the climate crisis. Furthermore, oil demand is projected to plateau and peak this decade, leading to an expected supply surplus.
350.org and millions of climate activists, scientists, and citizens globally have long called for a swift transition away from fossil fuels to renewable energy sources that protect both people and the planet.
“BP’s abandonment of its oil and gas reduction targets is a short-sighted decision – bad for business and even worse for people and planet – this cannot be tolerated. There is no future in fossil fuels.”
ENDS