Katherine Quinn is policy lead at the Cambridge Institute for Sustainability Leadership.
BP has ditched its pledge to curb oil production by 2030 – a plan that was once the most ambitious in the industry – switching instead to developing more fossil fuels in the Middle East.
The new approach means we’ll see 2 million more barrels of oil per day by the end of this decade, Reuters reported earlier this month.
You might think the energy giant would be lambasted for the decision, but BP shares jumped following the news. Insiders confirmed the move was designed to “regain investor confidence”.
Shell also weakened its 2030 carbon reduction target earlier this year, selling renewable assets by divesting its leases for developing floating wind farms off the coast of Scotland, among others.
Now it is doubling down on natural gas – another fossil fuel which it keeps trying to tell us is ‘clean’, even though burning and extracting it releases carbon dioxide, methane and particulate matter.
It’s a bit like that classic meme from the Princess Bride, when Inigo Montoya says, ‘You keep using that word. I do not think it means what you think it means.’
Climate advocates have long urged for humans to care more about the Earth we inhabit – even in the face of sceptics – hoping that common sense would prevail.
But it’s only recently that market conditions are starting to make fossil fuels less profitable. Last year’s COP28 UN climate conference marked the ‘beginning of the end’ of the fossil fuel era – with a phase-down agreement, although it could have gone a lot further.
Fossil fuels still king
Closer to home, the UK closed its last coal-fired power plant at the start of this month. But there’s no denying that fossil fuels still dominate our planet. In 2023, they accounted for 81.5% of the global energy mix.
Managing climate change holistically is a marathon – not a sprint – and we need to get in the right headspace for the long run. In fact, we need to run like our lives depend on it, because they do.
Despite solar surge, world off track for COP28 renewable energy target
We’re already seeing extreme weather that is both more intense and more frequent than many of the predictions of climate science. Just look at recent floods, wildfires and droughts in Austria, Myanmar, Poland, Germany, Australia, the Czech Republic, Slovakia, Romania, Bosnia and Herzegovina and Nigeria. We saw the catastrophic impacts of Hurricane Helene and Hurricane Milton in the US. And that’s just in the last month.
Things are so dire that meteorologists are crying as they report the weather.
So how do we shift the wider economy to change at the pace we need it? We need to accept that businesses and investors are primarily driven by financial returns. Many CEOs are prone to saying, “you get what you incentivise”.
Change through legal reform
You get what you incentivise – and you also get what you mandate. Introducing strong policies to accelerate the implementation of renewables, coupled with the rapid, legally implemented phase-out of fossil fuels, may be our best hope for ensuring global warming doesn’t rocket off the charts.
We must get this message across. The new model of ‘competitive sustainability’ is one way.
Forward-thinking businesses – those that get the reality of climate change – need to support changes in the market, while at the same time they compete to be the greenest. That way they can help prompt the changes needed, get ahead of upcoming regulations and mitigate a set of huge risks they won’t be able to avoid.
Climate godfather Al Gore was shouting about this as early as 2008, when he told business leaders gathered in Davos that beyond individual actions, “it is far more important to change the laws and to change the treaty obligations that nations have”.
The Global South is surging ahead in the renewables revolution
We need law reform that is simultaneously widespread and targeted. At the international level, we need strong treaty language on renewables. We need to look at agreements and commitments around investor protection and make sure they can’t be weaponised unreasonably to protect an unsustainable status quo at the cost of a green future.
At both national and subnational levels, we need to expedite permitting and grid access, phase out fossil fuel subsidies and redirect money towards clean fuels. Across the board, a legal framework is also crucial to ensure that climate, nature and human rights are embedded in environmental impact assessments.
We need carrots, but we also need sticks.
Instead of clobbering those lagging behind on climate action, we’re throwing protestors in jail for (often peacefully) raising awareness of the gravity of this crisis. Meanwhile, the majority of nations still financially incentivise oil and gas through record high fossil fuel subsidies.
Things need to change – and fast. Only by holding fossil fuel companies accountable and demanding urgent climate action can we secure a liveable future for generations to come – because the cost of inaction is far greater than the price of change.
The post Why we need new laws to end coal, oil and gas – now appeared first on Climate Home News.
Climate Change
“Sink or swim”: WA Gov hugely underestimating decline in regional gas demand while sleeping on green exports, new report finds
PERTH, Tuesday 13 October 2026 — A new report from Greenpeace Australia Pacific and Springmount Advisory reveals green commodity exports are an untapped economic opportunity for Western Australia in a declining Asian gas market, while offering a genuine solution for decarbonising Asia.
From Gas to Green: Building Western Australia’s Future State is a comprehensive analysis of the declining gas market in Asia, and the untapped economic opportunity for WA to become a global leader in green commodity exports while driving the regional shift away from fossil fuels.
The report offers key recommendations for the WA Government to support regional decarbonisation through an orderly phase out of gas exports in favour of green iron and other green exports. It comes as global climate leaders from across business, politics and advocacy prepare to meet for the Global Citizen Now: Perth event focused on decarbonising WA.
Key findings:
- Gas demand is falling across WA’s core markets in Asia: Gas demand fell in 2025 and is projected to continue to decline, driven by a combination of global geopolitical factors and domestic concerns.
- Policy shifts in key markets since the war on Iran now prioritise renewables and nuclear over gas: Japan, South Korea and China have legislated energy plans that prioritise renewables and nuclear over gas.
- New WA gas would arrive in a saturated, uncertain Asian market filled with cheaper gas: The US is now the world’s largest liquefied gas producer and plans to double its capacity as it also targets Asian markets.
- Green commodities offer a real solution to sustain WA’s economy: WA can lead Australia’s green commodity exports, which by 2060 could be worth almost a trillion dollars.
- Exporting more WA gas is likely to delay or impede Asia decarbonisation: Despite claims by the gas industry, there is no evidence that WA gas is displacing coal in Asia, and in fact diverts resources from genuine decarbonisation options.
Geoff Bice, WA Campaign Lead at Greenpeace Australia Pacific said: “As our export partners in Asia shift away from expensive and polluting gas, the WA Government has a golden opportunity to pivot our economy to green exports, like green iron, which is the most effective way to help our region to decarbonise.
“The writing is on the wall: gas is in decline, renewables are our future. In this context, it makes zero sense for the government to encourage high risk projects like Woodside’s reckless Browse gas proposal at Scott Reef.
“This report clearly shows that the WA Government faces a choice: sink or swim. They can either allow the gas industry to keep ripping off West Australians and continue propping up its decline, or choose the path that will deliver enormous benefits to the state and the world by becoming a leader in the rapidly expanding green economy.”
Tom Quinn, Managing Director of Springmount Advisory: “Western Australia prospers when it looks to the future and builds for future demand. Twenty years from now, what the world needs is green commodities made using WAs abundant renewable resources. Just like it did with iron ore in the 1950s and gas in the 1970s, WA should look to the future and build what the world will need, not sunsetting industries like gas that are already past their peak.”
-ENDS-
Media contact
Kate O’Callaghan on 0406 231 892 or kate.ocallaghan@greenpeace.org
Lucy Keller on 0491 135 308 or lucy.keller@greenpeace.org
A report from Greenpeace Australia Pacific and Springmount Advisory reveals the untapped green economic opportunity for Western Australia in a declining Asian gas market, which also offers a genuine solution for decarbonisation in Asia.
Is Western Australia clinging to a fading gas industry while a thriving green future passes it by? As major Asian trading partners rapidly pivot away from volatile gas imports toward cheap solar and battery storage, this report exposes a high-stakes choice: risk becoming stranded in an oversupplied fossil fuel market, or harness WA’s unmatched sun and wind to lead the global clean energy transition.
Summary
From Gas to Green: Building Western Australia’s Future State reveals that Western Australia (WA) faces a critical juncture as falling Asian gas demand, geopolitical gas supply volatility and accelerating renewable energy deployment undermine the long-term economic viability of gas exports. By harnessing its world-class wind and solar resources, the report demonstrates that WA can execute an orderly phase-out of gas and pioneer a green commodity export economy that could generate $987 billion in economic value by 2060, create 24,000 ongoing jobs, and drive a 9.6% reduction in global greenhouse gas emissions.
Key Findings
- Gas demand is falling in Asia – WA can no longer rely on gas exports: Gas demand in core Asian markets fell in 2025 and is projected to continue to decline in 2026. Legislated energy plans in Japan, South Korea, and China now prioritise renewables and nuclear over gas.
- Asia is increasing renewables, importing gas just gets in the way: Evidence from markets like Thailand suggests that gas imports are increasingly crowding out cheaper renewable energy investments and battery storage rather than displacing coal, locking in more emissions over time.
- Green commodities offer a real solution to decarbonise Asia – this is a major win for WA: With world-class renewables, WA can lead Australia’s green commodity exports, which by 2060 could be worth almost a trillion dollars ($987 billion) and support a genuine 9.6% reduction in global emissions.
Recommendations to WA government
Recommendation 1: Plan an orderly gas phase-out aligned with a trading partner pivot plan
Implement a managed, orderly phase-out of gas exports aligned with trading partners’ decarbonisation pathways, rather than waiting for demand to collapse, by:
- Developing and implementing a staged phase-out of gas facilities aligned with feedstock supply expiry or typical end of facility lifespans.
- Committing to no new gas development for gas expansion, including Browse and Kimberley fields.
- Developing new, reciprocal trade relationships with existing gas trade partners, structured to progressively replace gas exports with green commodities – integrated with recommendation 2.
Recommendation 2: Develop an integrated green commodity export strategy, positioning WA as a global green iron manufacturing hub
Establish an integrated green commodity export strategy that immediately prioritises green iron development, positioning WA as a global green iron manufacturing hub, by:
- Committing to green commodity export targets to give industry and investors a clear demand signal.
- Prioritising green iron as the lead sector within the broader green commodity strategy, given WA’s iron ore endowment and first-mover potential.
Recommendation 3: Reject false solutions such as carbon dumping (CCS) and blue hydrogen
Reject carbon dumping (also described as carbon capture and storage, or CCS) and blue hydrogen as viable decarbonisation technologies, and prioritise green hydrogen and proven renewables for clean energy and fuel production by:
- Excluding blue hydrogen projects (and CCS-dependent projects) from all government support programs.
- Requiring existing hydrogen-based production (including ammonia, methanol, synthetic fuels) to have clear, near-term transition timelines to switch to green hydrogen production.
What you can do
Together, we can push for a prosperous green future.
You can help by:
- Sending an email to Environment Minister Murray Watt and Prime Minister Anthony Albanese, calling on them to reject Browse.
- Sharing this story to help more Australians understand what’s at stake.
- Encouraging your friends and family to take action.
REPORT: “From Gas to Green” Building Western Australia’s Future State
Cleaner cooking projects in the UN carbon market will have to set aside a share of their credits to insure against the risk that the trees they save are lost to fire, drought or logging, after the market’s regulator rejected calls to exempt the sector.
The requirement is part of a new rulebook that the Paris Agreement carbon market regulator – the Article 6.4 Supervisory Body – approved last Friday for programmes that aim to cut emissions by distributing new and cleaner cookstoves in regions that still burn wood or charcoal for cooking.
These are the UN mechanism’s first rulebooks for cookstoves, one of the carbon market’s most popular credit types and also one of its most criticised for overstating climate benefits.
They consist of two methodologies: one for programmes that aim to cut greenhouse gas emissions by distributing more efficient cookstoves that burn less wood or charcoal, and a separate methodology for projects shifting households to lower-emissions cookers running on electricity or liquid petroleum gas (LPG).
Mkhuthazi Steleki, the South African chair of the Supervisory Body, said “this decision gives cleaner cooking projects a new pathway under the UN carbon market, with clear rules to ensure that each credit represents a real and credible emission reduction”.
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Exemption push rejected
More efficient cookstove projects earn credits based on the amount of carbon they save by preserving trees that would have otherwise been cut down and burned for fuel. But if those trees later burn in a wildfire or are logged, the carbon stored would be released anyway, erasing the climate benefits of the credits.
Several carbon credit developers, conservation NGOs and the UN Environment Programme (UNEP) disputed that cookstove projects face this risk, in what critics described as a “coordinated lobbying campaign”.
They argued that, unlike forest protection schemes, this type of credit represents a “flow” of avoided emissions rather than a “stock” of stored carbon that can be released. They also warned that requiring a buffer would impose disproportionate costs and undermine the financial viability of these activities.
But the UN carbon market regulator was not persuaded by the argument. It decided that projects would have to protect against this reversal risk by handing over a percentage of credits to a so-called “buffer pool” instead of selling them.
‘New paradigm’
The amount of credits to be given up is calculated by applying different methods for natural risks, like wildfires, droughts or hurricanes, and human-caused ones, such as logging or land clearing.
For natural risks, project developers will need to apply local risk values derived from new modelling published by a group of independent scientists.
Campaigners have broadly welcomed the decision. Federica Dossi, an expert at Brussels-based advocacy group Carbon Market Watch, said it sets a new paradigm for calculating reversal risk based on empirical data. “This approach is grounded in science and we hope to see this now being adopted by other carbon crediting mechanisms in the voluntary market,” she added.
Backers claim this method is more rigorous than current practice in the voluntary carbon market, which largely relies on expert guesswork.
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Pushback over science
As Climate Home News previously revealed, the same industry and NGO groups that sought an exemption from the “buffer pool”, along with some corporate buyers, criticised the use of a study backed by the UN carbon market’s experts that recommended the new risk assessment approach.
The groups pushed for more flexible rules that would have allowed natural risk values drawn from other sources, including national databases, or from the project developers themselves.
While the Supervisory Body rejected this approach, it gave project developers and countries the option to propose alternative values that would first need to be vetted by the mechanism’s expert panel and then approved by the regulator.
A carbon market expert told Climate Home News that, while it is too early to say how this provision will be used, they expect requests will have to be backed up with solid scientific evidence, lowering the risk of unfounded claims.