COP hosts set to increase combined oil and gas production by 33% by 2035, says report
Azerbaijan, the UAE, and Brazil — the past, current, and next hosts of the UN climate conference — are set to increase their combined oil and gas production by 33 per cent by 2035, contradicting their commitments to lead global efforts for stronger climate action, according to a new analysis. The analysis, compiled by the US-based research and advocacy group Oil Change International using industry data, shows that the UAE and Brazil are on track to increase production by 37 per cent and 38 per cent, respectively, by 2035. Azerbaijan, which will host COP29 in Baku in November, is projected to see a four per cent rise in production.
At the last UN climate summit in Dubai in November-December 2023, leaders made a historic commitment to transition away from fossil fuels, triple renewable energy capacity and double energy efficiency by 2030.
Oil Change International said that the ongoing expansion of oil and gas investments undermines these commitments.
Earlier this week, the International Energy Agency (IEA) said the goal of tripling global renewable energy capacity by 2030 is achievable, provided countries implement the UAE deal, which includes reducing fossil fuel usage.
Another analysis by Climate Action Tracker, a research group monitoring countries' climate efforts, rates Azerbaijan's climate action as «critically insufficient» after the country scrapped its 2030 emissions target.
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