WORLD HEADING FOR 110% OVERPRODUCTION OF FOSSIL FUELS BY 2030

The fourth edition of "The Production Gap Report' released on Wednesday has revealed that annual oil and gas production is projected to increase by 27 percent and 25 percent by 2030 and by 29 per cent and 41 per cent by 2050, respectively.

In a concerning revelation, the world is set on a trajectory to produce 110 percent more fossil fuels by 2030 than is compatible with limiting global warming to 1.5 degrees Celsius, according to the fourth edition of "The Production Gap Report.' Released on Wednesday, this comprehensive report sheds light on the disconcerting trends in fossil fuel production, particularly oil, gas, and coal, which pose a grave threat to climate goals. The report, compiled by a consortium of environmental research organizations, paints a troubling picture of our current trajectory and its implications for global efforts to combat climate change.

According to the report, annual oil and gas production is projected to increase by 27 percent and 25 percent by 2030 and by a staggering 29 percent and 41 percent by 2050, respectively. Equally concerning is the projection that annual global coal production will increase by 10 percent between 2020 and 2030. This short-term growth in coal production is mainly driven by countries such as India, Indonesia, and Russia, despite the fact that 151 national governments have committed to achieving net-zero emissions by signing the Paris Agreement in 2015.