It’s almost eight years since 2015′s historic Paris Agreement — a legally binding international treaty on climate change — was signed by 196 parties, who agreed to pursue efforts to limit global warming to 1.5°C above pre-industrial levels.
With fossil fuels such as coal, oil and gas being by far the largest contributors to global climate change, the International Energy Agency (IEA) was pretty explicit about what needs to happen to fossil fuel investments if the world is to achieve a net-zero carbon emissions energy system by 2050. “From today no investment in new fossil fuel supply projects, and no further final investment decisions for new unabated coal plants,” it stated in its 2021 Net Zero Emissions by 2050 Scenario (NZE).
