UNEP Production Gap Report:
The 2021 Production Gap Report was released by the leading research institutes and the United Nations Environment Programme (UNEP).
- The Production Gap Report, first launched in 2019, tracks the discrepancy between governments’ planned fossil fuel production and global production levels consistent with limiting warming to 1.5°C or 2°C.
- UNEP’s Major Reports: Emission Gap Report, Adaptation Gap Report, Global Environment Outlook, Making Peace with Nature.
Findings of the Report:
- The production gap to achieve the climate goal is the widest for coal: Production plans and projections by governments would lead to around 240% more coal, 57% more oil, and 71% more gas in 2030 than global levels consistent with limiting warming to 1.5°C.
- The most worrying factor is that almost all major coal, oil and gas producers are planning to increase their production till at least 2030 or beyond.
- The production gap has been fuelled by incremental capital flow towards fossil fuels in comparison to clean energy in the post novel coronavirus disease (Covid-19) recovery phase.
- The Group of 20 countries (G20) has channelised USD300 billion to fossil fuels since the beginning of the pandemic, and the sector is still enjoying significant fiscal incentives.
- India’s first NDC (Nationally Determined Contribution), issued in 2016, pledged a 33%-35% reduction in the “emissions intensity” of its economy by 2030, compared to 2005 levels.
- The report quotes a 2020 Government of India press release, to shine a light on India’s plans to raise coal production.
- The government seeks to “unleash the power of coal” and become self-reliant by 2023-24; it also wants to bring about “a paradigm shift in approach from being oriented to maximum revenue from coal to maximum coal available in the market at the earliest.”
- India plans to augment coal production from 730 million tonnes in 2019 to 1,149 million tonnes in 2024.
- India also aims to increase total oil and gas production by over 40% in the same period through measures such as accelerated exploration licensing, faster monetization of discoveries, and gas marketing reforms.