Urgent Warning: Wealthy Nations Are Running Out of Time to Curb Oil and Gas Funding
In a recent report, leading international experts warn that wealthy countries are on the verge of missing a critical deadline necessary to drastically reduce funding for the oil and gas industries. Amid global efforts to tackle climate change, it is becoming increasingly important for developed economies to cut investments in fossil fuels to avoid exacerbating the situation of global warming.
Experts emphasize that achieving the targets set by the Paris Agreement requires a significant acceleration of the transition to clean energy, which is impossible without reducing funding for projects related to the coal, oil, and gas industries. The report also highlights the risks associated with continued investments in fossil fuels, such as the extraction of hydrocarbons that not only harm the environment but also threaten the sustainable development of the global economy.
In this context, special attention is given to policymakers and financial institutions, which must reassess their strategies and prioritize funding for renewable energy sources. Data shows that investment levels in clean energy are still far from the necessary levels to meet the growing global demand for carbon-free energy.
The challenge of "green" financing is also under scrutiny for its lack of transparency and unreliable reporting, making it difficult for investors to assess the actual impact of their investments on the environment. Experts urge the governments of the G7 and G20 to take immediate action and develop clear plans to reduce dependence on fossil fuels while supporting economic growth through sustainable solutions.
According to the research, if wealthy nations do not change their policies in the coming years, it could lead not only to environmental consequences but also to social and economic crises. There is a need to find ways to accelerate technological progress and implement eco-friendly technologies to achieve the set climate goals.
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