A number of recent reports have raised the question of how much of existing hydrocarbon reserves can be used if the world is to meet the Paris Goal of no more than 1.5 degrees of global warming. This blog examines the conclusions of the most recent of those reports, published in the journal Nature, in the light of an article written by the IEA’s Director and Iraq’s Foreign Minister about the geopolitical impact of the Energy Transition.

The 8 September Report

An 8 September Report in the journal Nature (the Report) made an important link between forcing the pace of the Energy Transition and the geopolitical impacts of tackling climate change. In doing so, the Report underlined the tension between ensuring that the Energy Transition is a Fast Transition, but also a Just Transition. The Transition must move the world as fast as possible to a low carbon future. But it must do so without destroying the value on which stock markets…

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