G20 Acceleration Call - Time is running out for oil and gas

DATENovember 2023
AUTHORAleksandra Kotur, Florian Mersmann, Sebastian Wegner and Climate Transparency Partners

The United Nations Secretary General António Guterres called to super-charge efforts to achieve the Climate Solidarity Pact through an Acceleration Agenda. The G20 as biggest emitters have the strongest responsibility to “make extra efforts to cut emissions (…) in a common effort to keep 1.5 degrees alive”. This means:

  • Stop any expansion of existing oil and gas reserves
  • Shift subsidies from fossil fuels to a just energy transition
  • Prepare energy transition plans consistent with these actions and ready for investors

The newest publication of Climate Transparency “G20 Acceleration Call – Time is running out for oil and gas” identifies three asks that are key to accelerate climate action in the G20: higher ambition of national climate targets, stronger implementation to deliver on existing plans, and deeper cooperation to use the G20’s collective political, technological and financial power. The Call gives a short stocktake on oil and gas in the G20 and provides key recommendations for each country.