Burning all the oil and gas from new discoveries and newly approved projects since 2021 would emit at least 14.1bn tonnes of carbon dioxide (GtCO2), according to Carbon Brief analysis of Global Energy Monitor (GEM) data.
This would be equivalent to more than an entire year’s worth of China’s emissions.
It includes 8GtCO2 from new oil and gas reserves discovered in 2022-23 and another 6GtCO2 from projects that were approved for development over the same period.
These have all gone ahead since the International Energy Agency (IEA) concluded, in 2021, that “no new oil and gas fields” would be required if the world were to limit global warming to 1.5C .
Since then, world leaders gathering at the COP28 summit at the end of 2023 have also agreed to “transition away from fossil fuels”.
Despite this, nations such as Guyana and Namibia are emerging as entirely new hotspots for oil and gas development. At the same time, major historic fossil-fuel producers, such as the US and Iran, are still going ahead with large new projects.
Additionally, oil majors such as TotalEnergies and Shell that have made public commitments to climate action, are among the biggest players investing in new oil and gas extraction around the world.
More oil, more CO2
In 2021, the IEA issued its first “net-zero roadmap”, setting out a pathway for the world to limit warming to 1.5C. The influential agency concluded that:
“Beyond projects already committed as of 2021, there are no new oil-and-gas fields approved for development in our pathway.”
This statement has become a rallying cry for campaigners and leaders pushing for a phase out of fossil fuels.
The IEA has since clarified that there would be no need for new oil and gas developments if the world gets on track for 1.5C. It has also slightly softened its language, by allowing for new oil and gas projects with a “short-lead time” within its 1.5C scenario.
Yet it has also warned of the risk of “overinvestment” in new developments, noting that current spending is “almost double” what would be needed under its 1.5C pathway.
In any case, the IEA’s message has been widely ignored by oil and gas companies, which have continued to search for new extraction opportunities.
In its new global oil and gas extraction tracker, GEM identifies 50 new sites discovered in 2022 and 2023, after the IEA issued its initial net-zero roadmap. The oil and gas reserves from these projects amount to 20.3m barrels of oil equivalent (Mboe).
The tracker also identified a further 45 projects that have reached “final investment decision” (FID) since the IEA’s roadmap, with an extra 16Mboe of reserves. FID is the point at which companies decide to move ahead with a project’s construction and development.
If all the oil and gas in the newly discovered reserves is burned in the coming years, an extra 8GtCO2 would be released into the atmosphere, according to Carbon Brief analysis. Adding the reserves discovered between 2022-23 brings this total to 14.1GtCO2.
This is equivalent to more than one-third of the CO2 emissions from global energy use in 2022, or all the emissions from burning oil that year, as shown in the chart below.

These findings are in line with mounting evidence that both company and government plans for fossil fuels are not aligned with their own climate goals.
According to the most recent UN Environment Programme “production gap” report, companies are planning for oil and gas production that is 82% and 29% higher, respectively, than would be needed in a 1.5C pathway.
The remaining “carbon budget” of emissions that can be released while retaining a 50% chance of limiting warming to 1.5C is just 275GtCO2, according to the Global Carbon Budget consortium of scientists. Burning all of the contents of the new oil and gas schemes identified by GEM would use up 5% of this remaining budget.
Moreover, the GEM report points out that new projects take, on average, 11 years to start producing significant amounts of oil and gas. This means that most will not enter production until the 2030s.
By this point, according to the IEA, fossil-fuel demand would have fallen by “more than 25%” if the world gets on to a 1.5C-compliant pathway.
GEM also notes that its analysis likely underestimates the scale of new fossil fuel developments. It excludes smaller sites and those where the size has not been publicly announced, such as new gas fields discovered in Saudi Arabia in 2022.
The IEA updated its net-zero scenario in 2023 to reflect the continued expansion of fossil-fuel projects since its previous report. It stated that:
“No new long lead time conventional oil and gas projects need to be approved for development.”
It added that falling demand for fossil fuels “may also mean that a number of high cost projects come to an end before they reach the end of their technical lifetimes”, again if the world gets onto a 1.5C pathway.
To reflect the IEA’s new language around avoiding “long lead time” and “conventional” projects, GEM excludes expansions of existing projects and “unconventional” sites from its analysis. The report notes that including them would roughly quadruple the size of the reserves that reached a FID in 2022-23.
Oil majors
Many oil companies have made it clear that they do not intend to wind down their fossil-fuel operations in the near future.
This is true even for those that have made commitments to climate action, such as Shell and TotalEnergies. (Some oil majors have also watered down their pledges in recent months.)
As the chart below shows, many of the companies with the largest share of new oil and gas schemes have also announced net-zero targets.

The top rankings are dominated by publicly traded oil majors, such as ExxonMobil, and national companies, such as the Abu Dhabi National Oil Company (ADNOC) – which is led by COP28 president Sultan Al Jaber. Saudi Aramco, the world’s largest oil company, is missing from the GEM tracker, likely due to the lack of data from Saudi Arabia.
The emissions that could result from new gas fields run by the state-owned National Iranian Oil Company alone amount to 1,700MtCO2, according to Carbon Brief analysis. This is higher than the annual carbon footprint of Brazil.
Meanwhile, oil and gas in new projects being developed by TotalEnergies and ExxonMobil could generate roughly 1,000MtCO2 – equivalent to Japan’s annual total – for each company.
At the recent CERAWeek industry conference, many oil and gas industry leaders argued against a transition to cleaner forms of energy. For example, Saudi Aramco chief executive Amin Nasser told attendees: “We should abandon the fantasy of phasing out oil and gas.”
As companies continue searching for more oil and gas, executives have consistently emphasised that demand for fossil fuels, rather than production, is the problem.
Most recently, in an interview with Fortune, ExxonMobil chief executive Darren Woods placed the blame on the public, who he said “aren’t willing to spend the money” on low-carbon alternatives.
New country ‘hotspots’
New nations, mainly in the global south, are opening up as “global hotspots” for oil and gas projects, according to GEM.
Notably, Guyana is set to have the highest oil production growth through to 2035. Over the past two years, it has already been the site of more new oil and gas discoveries than any other country. Namibia has also opened up as a major new frontier in fossil-fuel extraction.
The chart below shows how nations that have recently been targeted for oil and gas exploration, now make up a large portion of new discoveries and developments.

The expansion of oil and gas production in the global south is a highly politicised topic.
Many African leaders, in particular, argue that their countries are entitled to exploit their natural resources in order to bring benefits to their people, as global-north countries have done. At COP28, African Group chair Collins Nzovu stated that oil and gas were “crucial for Africa’s development”.
(It is worth noting that, according to GEM’s analysis, companies based in the global north such as ExxonMobil, Hess Corporation and TotalEnergies own most of the reserves in the new global-south projects.)
Meanwhile, wealthy oil producers such as the US, Norway and the UAE justify their continued fossil-fuel extraction by saying their production emissions are relatively low. Others, such as the UK, argue that they need to exploit domestic reserves to preserve their energy security.
Even in a 1.5C scenario, the IEA still includes a significantly reduced amount of oil and gas use in 2050. Most of it goes towards making petrochemicals and producing hydrogen fuel.
However, in last year’s report on the position of the oil and gas industry in the net-zero transition, the agency also emphasises that this does not mean everyone can continue producing.
“Many producers say they will be the ones to keep producing throughout transitions and
beyond. They cannot all be right,” it concludes.
The post Analysis: New oil and gas projects since 2021 could emit 14bn tonnes of CO2 appeared first on Carbon Brief.
Analysis: New oil and gas projects since 2021 could emit 14bn tonnes of CO2
Climate Change
A New Tool Could Help Track Deep-Sea Mining Activity
Countries are still debating whether to mine the seafloor for minerals, but exploratory efforts have already begun.
As demand for critical minerals surges around the world, countries are debating whether to mine the untapped deep-sea reserves of cobalt, copper and manganese, miles below the surface. But a growing body of research shows that these activities could have profound consequences for ocean ecosystems, and the industries and communities that rely on them.
Climate Change
IEA: Slow transition away from fossil fuels would cost over a million energy sector jobs
A slower shift to clean energy could leave the world with 1.3 million fewer energy sector jobs by 2035 compared with a scenario in which governments fully implement their green policies, the International Energy Agency (IEA) has found.
In its annual World Energy Employment report, the Paris-based watchdog said on Friday that the Current Policies Scenario (CPS), which it reintroduced under pressure from the Trump administration, has “more muted” employment growth than the Stated Policies Scenario.
The CPS sees oil and gas demand continuing to rise until at least 2050 – a scenario that the IEA described as “cautious” and “anchored in enacted laws and measures” and was widely criticised by clean energy experts.
A fast energy transition would spur investment in construction, creating more jobs across the sector. New roles for electricians, building insulators, solar panel and energy-efficient lightbulb installers, and transition mineral miners would more than offset job losses in coal mines, power plants and oil and gas fields, the report found.
Anabella Rosemberg, Just Transition lead at Climate Action Network International, lamented that the clean energy sector is “being undermined at a time when employment creation is of utmost priority”.
“Climate ambition and decent job creation must go hand in hand – but as the recent conversations at COP30 showed, there is a need for both the right targets and just transition strategies to make it happen,” she added.
A more ambitious Net Zero Emissions scenario, aligned with the Paris Agreement goal of limiting global warming to 1.5C, would see roughly ten million more energy jobs created than under the CPS, report author Daniel Wetzel told Climate Home News at a press conference.
Bottleneck warnings
The IEA warned that governments must act to train workers for these roles or risk facing shortages of electricians, welders, and grid specialists – a gap that could slow the energy transition and drive up wages and energy costs.
IEA head Fatih Birol highlighted a particular shortage of qualified workers in the nuclear industry, warning that the problem could worsen as the sector’s workforce continues to age. “I hear nuclear is making a comeback, but the interest in the nuclear sector for the jobs is rather weak,” he said.
Laura Cozzi, IEA’s Director of Sustainability, Technology and Outlooks, warned of a shortage of skilled workers in electricity grids. “That is one of the key ingredients why we are not seeing grids ramp up as [they] should,” she said. Over 60 governments pledged at COP29 to improve and expand their grids to enable clean electricity to flow to where it is needed.
Bert De Wel, Global Coordinator for Climate Policy at the International Trade Union Confederation, celebrated that the energy transition is creating jobs but added that they should be good jobs with decent pay, conditions and union rights. Decent work would attract skilled workers, he added.
The report found that wages in the oil and gas industry have generally risen faster over the past year than in the solar – and especially the wind – sectors. It noted that the oil and gas industry has a “historical tendency to offer highly competitive wages to attract and retain top talent”.
At the COP30 climate summit, governments agreed to set up the Belém Action Mechanism to try and make the energy transition fairer to groups such as workers in the energy industry. It will give trade unions a formal role in shaping just transition policies, for what the ITUC says is the first time.
ITUC General Secretary Luc Triangle called it a “decisive win for the union movement and working people across the world, in all sectors but especially those in transition industries.”
The post IEA: Slow transition away from fossil fuels would cost over a million energy sector jobs appeared first on Climate Home News.
IEA: Slow transition away from fossil fuels would cost over a million energy sector jobs
Climate Change
DeBriefed 5 December: Deadly Asia floods; Adaptation finance target examined; Global south IPCC scientists speak out
Welcome to Carbon Brief’s DeBriefed.
An essential guide to the week’s key developments relating to climate change.
This week
Deadly floods in Asia
MOUNTING DEVASTATION: The Associated Press reported that the death toll from catastrophic floods in south-east Asia had reached 1,500, with Indonesia, Sri Lanka and Thailand most affected and hundreds still missing. The newswire said “thousands” more face “severe” food and clean-water shortages. Heavy rains and thunderstorms are expected this weekend, it added, with “saturated soil and swollen rivers leaving communities on edge”. Earlier in the week, Bloomberg said the floods had caused “at least $20bn in losses”.
CLIMATE CHANGE LINKS: A number of outlets have investigated the links between the floods and human-caused climate change. Agence France-Presse explained that climate change was “producing more intense rain events because a warmer atmosphere holds more moisture and warmer oceans can turbocharge storms”. Meanwhile, environmental groups told the Associated Press the situation had been exacerbated by “decades of deforestation”, which had “stripped away natural defenses that once absorbed rainfall and stabilised soil”.
‘NEW NORMAL’: The Associated Press quoted Malaysian researcher Dr Jemilah Mahmood saying: “South-east Asia should brace for a likely continuation and potential worsening of extreme weather in 2026 and for many years.” Al Jazeera reported that the International Federation of Red Cross and Red Crescent Societies had called for “stronger legal and policy frameworks to protect people in disasters”. The organisation’s Asia-Pacific director said the floods were a “stark reminder that climate-driven disasters are becoming the new normal”, the outlet said.
Around the world
- REVOKED: The UK and Netherlands withdrew $2.2bn of financial backing from a controversial liquified natural gas (LNG) project in Mozambique, Reuters reported. The Guardian noted that TotalEnergies’ “giant” project stood accused of “fuelling the climate crisis and deadly terror attacks”.
- REVERSED: US president Donald Trump announced plans to “significantly weaken” Biden-era fuel efficiency requirements for cars, the New York Times said.
- RESTRICTED: EU leaders agreed to ban the import of Russian gas from autumn 2027, the Financial Times reported. Meanwhile, Reuters said it is “likely” the European Commission will delay announcing a plan on auto sector climate targets next week, following pressure to “weaken” a 2035 cut-off for combustion engines.
- RETRACTED: An influential Nature study that looked at the economic consequences of climate change has been withdrawn after “criticism from peers”, according to Bloomberg. [The research came second in Carbon Brief’s ranking of the climate papers most covered by the media in 2024.]
- REBUKED: The federal government of Canada faced a backlash over an oil pipeline deal struck last week with the province of Alberta. CBC News noted that First Nations chiefs voted “unanimously” to demand the withdrawal of the deal and Canada’s National Observer quoted author Naomi Klein as saying that the prime minister was “completely trashing Canada’s climate commitments”.
- RESCHEDULED: The Indonesian government has cancelled plans to close a coal plant seven years early, Bloomberg reported. Meanwhile, Bloomberg separately reported that India is mulling an “unprecedented increase” in coal-power capacity that could see plants built “until at least 2047”.
$518 billion a year
The projected coastal flood damages for the Asia-Pacific region by 2100 if current policies continue, according to a Scientific Reports study covered this week by Carbon Brief.
Latest climate research
- More than 100 “climate-sensitive rivers” worldwide are experiencing “large and severe changes in streamflow volume and timing” | Environmental Research Letters
- Africa’s forests have switched from a carbon sink into a source | Scientific Reports
- Increasing urbanisation can “substantially intensify warming”, contributing up to 0.44C of additional temperature rise per year through 2060 | Communications Earth & Environment
(For more, see Carbon Brief’s in-depth daily summaries of the top climate news stories on Monday, Tuesday, Wednesday, Thursday and Friday.)
Captured
A new target for developed nations to triple adaptation finance by 2035, agreed at the COP30 climate summit, would not cover more than a third of developing countries’ estimated needs, Carbon Brief analysis showed. The chart above compares a straight line to meeting the adaptation finance target (blue), alongside an estimate of countries’ adaptation needs (grey), which was calculated using figures from the latest UN Environmental Programme adaptation gap report, based on countries’ UN climate plans (called “nationally determined contributions” or NDCs) and national adaptation plans (NAPs).
Spotlight
Inclusivity at the IPCC
This week, Carbon Brief speaks to an IPCC lead author researching ways to improve the experience of global south scientists taking part in producing the UN climate body’s assessments.
Hundreds of climate scientists from around the world met in Paris this week to start work on the Intergovernmental Panel on Climate Change’s (IPCC’s) newest set of climate reports.
The IPCC is the UN body responsible for producing the world’s most authoritative climate science reports. Hundreds of scientists from across the globe contribute to each “assessment cycle”, which sees researchers aim to condense all published climate science over several years into three “working group” reports.
The reports inform the decisions of governments – including at UN climate talks – as well as the public understanding of climate change.
The experts gathering in Paris are the most diverse group ever convened by the IPCC.
Earlier this year, Carbon Brief analysis found that – for the first time in an IPCC cycle – citizens of the global south make up 50% of authors of the three working group reports. The IPCC has celebrated this milestone, with IPCC chair Prof Jim Skea touting the seventh assessment report’s (AR7’s) “increased diversity” in August.
But some IPCC scientists have cautioned that the growing involvement of global south scientists does not translate into an inclusive process.
“What happens behind closed doors in these meeting rooms doesn’t necessarily mirror what the diversity numbers say,” Dr Shobha Maharaj, a Trinidadian climate scientist who is a coordinating lead author for working group two (WG2) of AR7, told Carbon Brief.
Global south perspective
Motivated by conversations with colleagues and her own “uncomfortable” experience working on the small-islands chapter of the sixth assessment cycle (AR6) WG2 report, Maharaj – an adjunct professor at the University of Fiji – reached out to dozens of fellow contributors to understand their experience.
The exercise, she said, revealed a “dominance of thinking and opinions from global north scientists, whereas the global south scientists – the scientists who were people of colour – were generally suppressed”.
The perspectives of scientists who took part in the survey and future recommendations for the IPCC are set out in a peer-reviewed essay – co-authored by 20 researchers – slated for publication in the journal PLOS Climate. (Maharaj also presented the findings to the IPCC in September.)
The draft version of the essay notes that global south scientists working on WG2 in AR6 said they confronted a number of diversity, equity and inclusion (DEI) issues, including “skewed” author selection, “unequal” power dynamics and a “lack of respect and trust”. The researchers also pointed to logistical constraints faced by global south authors, such as visa issues and limited access to journals.
The anonymous quotations from more than 30 scientists included in the essay, Maharaj said, are “clear data points” that she believes can advance a discussion about how to make academia more inclusive.
“The literature is full of the problems that people of colour or global south authors have in academia, but what you don’t find very often is quotations – especially from climate scientists,” she said. “We tend to be quite a conservative bunch.”
Road to ‘improvement’
Among the recommendations set out in the essay are for DEI training, the appointment of a “diversity and inclusion ombudsman” and for updated codes of conduct.
Marharaj said that these “tactical measures” need to occur alongside “transformative approaches” that help “address value systems, dismantle power structures [and] change the rules of participation”.
With drafting of the AR7 reports now underway, Maharaj said she is “hopeful” the new cycle can be an improvement on the last, pointing to a number of “welcome” steps from the IPCC.
This includes holding the first-ever expert meeting on DEI this autumn, new mechanisms where authors can flag concerns and the recruitment of a “science and capacity officer” to support WG2 authors.
The hope, Maharaj explained, is to enhance – not undermine – climate science.
“The idea here was to move forward and to improve the IPCC, rather than attack it,” she said. “Because we all love the science – and we really value what the IPCC brings to the world.”
Watch, read, listen
BROKEN PROMISES: Climate Home News spoke to communities in Nigeria let down by the government’s failure to clean up oil spills by foreign companies.
‘WHEN A ROAD GOES WRONG’: Inside Climate News looked at how a new road from Brazil’s western Amazon to Peru has become a “conduit for rampant deforestation and illegal gold mining”.
SHADOWY COURTS: In the Guardian, George Monbiot lamented the rise of investor-state dispute settlements, which he described as “undemocratic offshore tribunals” that are already having a “chilling effect” on countries’ climate ambitions.
Coming up
- 1-12 December: UN Environment Assembly 7, Nairobi, Kenya
- 7 December: Hong Kong legislative elections
- 11 December: Falkland Islands legislative assembly elections
Pick of the jobs
- Greenpeace International, engagement manager – climate and energy | Salary: Unknown. Location: Various
- The Energy, newsletter editor | Salary: Unknown. Location: Australia (remote)
- University of Groningen, PhD position in motivating people to contribute to societal transitions | Salary: €3,059-€3,881 per month. Location: Groningen, the Netherlands
DeBriefed is edited by Daisy Dunne. Please send any tips or feedback to debriefed@carbonbrief.org.
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The post DeBriefed 5 December: Deadly Asia floods; Adaptation finance target examined; Global south IPCC scientists speak out appeared first on Carbon Brief.
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