This report details 12 alarming cases showing how governments and coal, oil and gas companies are planning massive increases in the amount of hydrocarbons dug out and sucked from the ground. There is no hope for staying under 1.5° if this explosion of fossil fuel extraction is allowed to happen.
Potential emissions from coal, oil and gas fields already in production would already push us far beyond 1.5°, and likely even 2°C, so any expansion of fossil fuel extraction, or building of new infrastructure like pipelines and power plants that drive continued extraction, is incompatible with the Paris Agreement. So banks and investors cannot credibly say that they are committed to aligning with Paris while simultaneously funding projects like those outlined in this report.
