As the climate crisis accelerates, a radical energy transition needs to take place fast. We need to shift from fossil fuels to cleaner and safer energy sources such as wind and sun.
This is an opportunity for us all. But it has risks too. Oil and gas currently provide core income for resource dependent countries. As fossil fuels go offline, jobs will be lost and revenues could halve by 2040. Demand for precious transition minerals will rise dramatically.
Governments and businesses need to plan for this by diversifying economies, strategically phasing out fossil fuels, and actively pursuing opportunities for cleaner and more affordable energy. The wealthiest countries that are most responsible for the climate crisis need to lead the way and support lower-income nations to plan for and manage the transition. With the right backing, many resource-dependent countries that currently export oil and gas could also be leaders on renewables.
The views of vulnerable people who depend on oil and gas extraction must be heard throughout this transition, and the impact on their lives taken into account.
For twenty years, PWYP has campaigned for open and accountable extractive industries that benefit all citizens. As we pursue a just transition to a cleaner future, this fight is more important than ever.
