PARLIAMENTARY OVERSIGHT OF EXTRACTIVES RESOURCES AND CLIMATE CHANGE POLICIES

In a bid to align with the obligation of the 2015 Paris Agreement to limit global warming to well below 2 Degrees Celsius, ideally 1.5 Degrees compared to pre-industrialised levels, more and more countries are introducing strategies to reduce their national emissions of greenhouse gases (GHGs) over the coming decades. Several countries have enacted laws and policies that evidence their commitment to reduce greenhouse gases or have announced dates until which they aim to become carbon neutral. Interestingly, this also includes more and more low and middle-income countries that still have trajectories of significant industrial and economic growth ahead of them. Therefore, the energy transition shift is not only a shift to decarbonise existing economies but also to enable industrialization and economic growth based on low-carbon technologies.