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End new oil, gas and coal funding to reach net zero, says IEA

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Reuters

By Nina Chestney LONDON (Reuters) – Investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, in the top global watchdog’s starkest warning yet to curb fossil fuels. Any abrupt halt to new oil and gas projects by next year still appears unlikely, however, as energy majors’ spending plans still tilt heavily towards hydrocarbons, and oil-producing nations such as Norway plan new licensing rounds. “The pathway to net zero is narrow but still achievable. If we want to reach n…

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