Daily Current Affairs : 9-November-2023
In the spotlight of current affairs is the alarming revelation from the latest Production Gap Report, echoing concerns about governments planning to ramp up fossil fuel production in stark contradiction to climate goals. This report, initiated in 2019, meticulously tracks the disparity between planned fossil fuel production and the levels necessary to align with global warming limits of 1.5°C or 2°C.
Contributors to the Report:
Prepared by a coalition including the Stockholm Environment Institute (SEI), Climate Analytics, E3G, International Institute for Sustainable Development, and the UN Environment Programme (UNEP), the report brings together expertise to shed light on a critical issue.
Aim of the Report:
The primary objective of the report is to evaluate governments’ planned production of coal, oil, and gas against the temperature goals outlined in the Paris Agreement. This assessment encompasses 20 major fossil-fuel-producing countries, including Australia, Brazil, China, India, Russia, and the United States.
Key Findings:
The report’s findings paint a grim picture, indicating that despite assurances made during the 2015 Paris Agreement, global coal, oil, and gas demand are projected to surge this decade. Notably, even in the absence of new policies, the forecasts point towards an escalation in global coal production until 2030 and in global oil and gas production until at least 2050. This ominous trend results in an ever-widening fossil fuel production gap over time.
COP Summit in Dubai:
Against this backdrop, the upcoming Conference of the Parties (COP) Summit in Dubai gains significance. Attended by representatives from approximately 190 countries, the summit aims to deliberate on timelines to curb fossil fuel emissions, hasten the adoption of renewable energy, and provide financial assistance to vulnerable nations grappling with the consequences of global warming.
Important Points:
- Contributors to the Report:
- Collaborative effort by the Stockholm Environment Institute (SEI), Climate Analytics, E3G, International Institute for Sustainable Development, and the UN Environment Programme (UNEP).
- Aim of the Report:
- Evaluate governments’ planned coal, oil, and gas production against the Paris Agreement’s temperature goals.
- Analyze 20 major fossil-fuel-producing countries, including Australia, Brazil, China, India, Russia, and the United States.
- Key Findings:
- Despite 2015 Paris Agreement promises, global coal, oil, and gas demand projected to surge this decade.
- Forecasts indicate an increase in global coal production until 2030 and in global oil and gas production until at least 2050.
- Resulting in an alarming and widening fossil fuel production gap over time.
- COP Summit in Dubai:
- Annual Conference of the Parties (COP) Summit in Dubai expects participation from around 190 countries.
- Aims to discuss timelines for reducing fossil fuel emissions, promoting renewable energy adoption, and providing financial assistance to vulnerable nations affected by global warming.
Why In News
According to a recent report, a concerning trend emerges as many governments are set to double their fossil fuel production by 2030, a trajectory that not only exceeds the limits required to restrict global warming to 1.5 degrees Celsius but also surpasses by 69% the levels deemed consistent with a 2-degree Celsius target. This underscores the urgent need for more sustainable energy policies to mitigate the escalating impact of climate change.
MCQs about Fossil Fuel Production Forecasts: A Stark Challenge to Climate Goals
-
What is the primary focus of the Production Gap Report ?
A. Renewable energy adoption
B. Fossil fuel production and climate goals
C. Financial assistance to vulnerable nations
D. International collaborations on climate change
-
Who are the main contributors to the Production Gap Report?
A. NASA and World Bank
B. Greenpeace and WWF
C. Stockholm Environment Institute (SEI), Climate Analytics, and UNICEF
D. ExxonMobil and Shell
-
According to the report, what does the forecast indicate about global coal production until 2030?
A. Decline
B. Stagnation
C. Significant increase
D. Unchanged
-
What is the main objective of the COP Summit in Dubai mentioned in the essay?
A. Discussing global economic strategies
B. Planning international tourism initiatives
C. Deliberating on timelines for fossil fuel emission reduction
D. Exploring space exploration collaborations
Boost up your confidence by appearing our Weekly Current Affairs Multiple Choice Questions
