Climate report favours NZ’s ban

An international report on fossil fuels and climate change has championed New Zealand’s decision to ban future oil and gas exploration.

New Zealand’s announcement in April last year that it would stop issuing permits for exploration off its coasts has been highlighted by the report, authored by five international think-tanks. They quantify, for the first time, the difference between globally planned coal, oil and gas production, and the production levels allowable under internationally agreed temperature levels. The Production Gap report said that as things stood, the world was set to produce

50 per cent more fossil fuels by

2030 than is consistent with the Paris Agreement’s maximum on greenhouse gas levels.

Under the Paris Agreement, signatories agreed to limit global warming to well below 2 degrees Celsius and to pursue efforts to stay below 1.5C. Fossil fuels account for more than 75 per cent of greenhouse gas emissions.

Natalie Jones, a co-author of the report, said New Zealand was seen as a role model on how to transition away from fossil fuels, although it could work harder to reduce its coal production also.

Jones, who works at the University of Cambridge’s Centre for the Study of Existential Risk, said others were taking notes from New Zealand’s 30-year transition plan and its accompanying investment in Taranaki infrastructure and clean energy projects. ‘‘We are not alone in taking action. France, Denmark, Belize and Costa Rica have also partially or totally banned oil and gas exploration and extraction,’’ Jones said.

‘‘Germany and Spain are phasing out coal mining.

‘‘Several national and international financial institutions are stopping investments in fossil fuel exploration and production.

‘‘But many other countries need to follow our lead – and we can help them get there.’’

Jones said the problem was most countries had focused on ‘‘demand side’’ policies to combat climate change, such as carbon taxes and incentives for renewable energy. But while they were pledging to cut their carbon emissions, many countries were still planning to up their production of oil, coal and gas.

‘‘Governments also need to take action on the ‘supply side’ to limit and ultimately phase down fossil fuel production,’’ Jones said.

She said New Zealand could do even more, by joining with other fast movers to turn the tide on cutting fossil fuel production.

‘‘This could even take the form of a new international accord, such as a fossil fuel nonproliferation treaty or commitments to fossil fuel-free zones,’’ she said.