Phaseout Pathways for Fossil Fuel Production Within Paris-compliant Carbon Budgets

To comply with the carbon budget for a 50:50 chance of not exceeding 1.5°C of warming requires immediate and deep cuts in the production of all fossil fuels. There are no exceptions; all nations need to begin a rapid and just phaseout of existing production. The report makes absolutely clear that there is no capacity in the carbon budget for opening up new production facilities of any kind, whether coal mines, oil wells or gas terminals. A transition based on principles of equity requires wealthy, high-emitting nations to phase out all oil and gas production by 2034 while the poorest nations have until 2050 to end production.