Energy groups must stop all new oil and gas exploration projects from this year if global warming is to be kept in check, the International Energy Agency said.
The proposal is one radical aspect of a scenario outlined by the Paris-based institution in a report released today on ways to achieve net zero carbon dioxide emissions by 2050, the level required to keep temperatures from rising above 1.5C.
Aside from drastically cutting fossil fuel consumption, an unprecedented jump in spending on low carbon technologies would also be required — around $5tn in energy investments per year by 2030, up from around $2tn today, the report said.
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