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Climate and Environment

9 Sept 2021

Fossil Fuels Must Remain Unexploited to Avoid Destructive Global Warming

Fossil Fuels Must Remain Unexploited to Avoid Destructive Global Warming

The Index Today

Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

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Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Scientists are saying 90% of coal and 60% of oil & gas supplies must remain in the ground to have even a 50% chance of preventing global temperatures rising more than 1.5 degrees.

According to researchers, the production of fossil fuels must see a consistent yearly decline of 3% till 2050 to minimize the dangerous effects of global warming. The pandemic has helped reduce pollution and temperatures to a notable extent in the last year, but is now back on the rise.

The 2015 Paris Agreement aims to limit carbon emissions by implementing clean energy solutions. The agreement also specifies how far behind we are from achieving carbon emission targets set for each country.

Some may argue that coal production is already on the decline, but its current rate of decline is far too slow to reach the proposed target.

Recent studies have been conducted to determine an estimate for the “unextractable” amount of fossil fuels that corporations consider profitable, also known as proven reserves. In simple words, companies listing fossil fuel energy as financial assets must consider these of no value if they wish to have even a small chance of limiting warming to 1.5 degrees.

President Joe Biden has pledged to limit or end fossil fuel leasing on any public lands in hopes to curb global warming. The administration is currently undergoing a review of the country’s fossil energy reserves to determine the next path of action which could include increased royalties and restrictive measures.

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