which-reference-scenario-for-which-sectoral-policy-4f8b2e3fb41b954c.pdf

The briefing asserts that new gas exploration, production, and LNG export terminals are incompatible with limiting global warming to 1.5°C. It highlights that existing fossil fuel infrastructure already exceeds the remaining carbon budget for low-overshoot pathways and warns of LNG overcapacity. Consequently, it calls on financial institutions to stop presenting fossil gas as a transitional energy and to immediately cease financial services supporting fossil gas expansion.

• Developing new gas exploration and production projects or liquefied natural gas (LNG) export terminals is incompatible with the 1.5°C global warming limit, particularly for pathways that avoid significant overshoot and rely minimally on negative emissions technologies.
• According to the IPCC, emissions from current fossil fuel infrastructure already exceed more than 50% of the remaining cumulative net CO2 emissions allowed for pathways limiting warming to 1.5°C with limited or no overshoot. To meet this goal, global oil and gas production and consumption must decrease by 30% by 2030, representing an annual average decline of 3% through the end of the decade.
• The IEA's Net Zero Emissions by 2050 (NZE) Scenario deems new gas projects and LNG export terminals incompatible with the 1.5°C goal. The IEA's World Energy Outlook 2024 specifically warns of overcapacity risks in LNG infrastructure because existing capacity is already sufficient to meet future global needs.
• The decline in global fossil gas demand justifies stopping the construction of new LNG import terminals in specific regions, including South Korea and Europe.
• Reclaim Finance recommends that financial institutions stop framing fossil gas as a transitional energy source and immediately end all financial services supporting fossil gas expansion, including support for companies developing new gas fields and LNG export terminals.

APA

Reclaim Finance (n.d.). which-reference-scenario-for-which-sectoral-policy-4f8b2e3fb41b954c.pdf. https://reclaimfinance.org/site/wp-content/uploads/2024/11/Which-reference-scenario-for-which-sectoral-policy.pdf

Chicago

Reclaim Finance. which-reference-scenario-for-which-sectoral-policy-4f8b2e3fb41b954c.pdf. n.d. https://reclaimfinance.org/site/wp-content/uploads/2024/11/Which-reference-scenario-for-which-sectoral-policy.pdf.

Wikipedia

{{cite report |author=Reclaim Finance |title=which-reference-scenario-for-which-sectoral-policy-4f8b2e3fb41b954c.pdf |url=https://reclaimfinance.org/site/wp-content/uploads/2024/11/Which-reference-scenario-for-which-sectoral-policy.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{reclaimfinancendwhichreferencescenarioforwhichsectoralpolicy4f8b2e3fb41b954cpdf, author = {{Reclaim Finance}}, title = {{which-reference-scenario-for-which-sectoral-policy-4f8b2e3fb41b954c.pdf}}, institution = {Reclaim Finance}, url = {https://reclaimfinance.org/site/wp-content/uploads/2024/11/Which-reference-scenario-for-which-sectoral-policy.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }