Major oil and gas companies are planning to "increase their upstream oil and gas production" according to new research published by the TPI Global Climate Transition Centre (TPI Centre) at the London School of Economics and Political Science (LSE). The report analyses 22 leading global companies in two sectors critical to the low-carbon transition: 16 in oil and gas and six in diversified mining.
Tag: fossil fuels
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Middle East disruptions and high fuel prices halve airline profitability
The International Air Transport Association (IATA) released its latest financial outlook for the global airline industry showing a halving of profitability as a result of war-related Middle East disruptions and high fuel prices. The regional landscape, however, is highly differentiated. At the geographic centre of the Middle East war, airlines in the Middle East are expected to collectively fall into the red with weak demand and operational disruptions. All other regions are expected to deliver profits, but at reduced levels from previous projections.
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Middle East conflict sends global growth to lowest rate since COVID-19
The conflict in the Middle East is expected to slow global growth to the lowest rate since the onset of the COVID-19 pandemic amid higher energy prices, steeper inflation, and increased borrowing costs, according to the World Bank Group’s latest Global Economic Prospects report. Global growth is forecast to slow to 2.5% in 2026, down from 2.9% in 2025. Forecasts for two-thirds of economies have been downgraded relative to January of this year.
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Commission presents first EU strategies for islands and coastal communities
The European Commission has adopted two dedicated strategies, one for EU islands and one for EU coastal communities, setting out for the first time a coordinated European approach to support both types of territories and unlock their long-term potential. The two initiatives introduce a targeted approach, dedicated to the specific needs and unique challenges of: 17m people living on more than 4,000 islands across 16 EU Member States; and 95m people living along the 70,000km of EU coastlines and in coastal areas across 22 EU Member States.
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City-level economic growth is being decoupled from fossil fuels
An objective, globally consistent framework to measure decoupling between fossil fuel use and economic growth, either through reduced fuel use or shifts toward cleaner/more efficient combustion has been published. Analysing 5,435 cities globally over 2019–2024, the research has identified significant trends for 2,475 cities and classified them into four decoupling states.
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Solar surge halts fossil generation rise as renewables overtake coal
Record solar growth meant clean power sources grew fast enough to meet all new electricity demand in 2025, thereby preventing an increase in fossil generation, according to Ember’s seventh annual Global Electricity Review . This was the first year since 2020 without an increase in electricity generation from fossil fuels and only the fifth year without a rise this century.
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Climate progress: from net-zero ambitions to the Paris Agreement goal
Climate targets require strong commitments from countries to be achieved. Using a multi-model analysis, new research shows that current net-zero pledges bring the world closer to a well-below 2 °C pathway, but an emission gap remains. Increasing ambition will be crucial: expanding the global coverage of net-zero pledges and speeding up action increases consistency with the Paris Agreement (1.5–2.0 °C range in model mean).
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Commission acts to protect Europeans from the fossil energy crisis
AccelerateEU is the Commission's toolbox to bring immediate relief to European households and industries, especially the most vulnerable ones, while putting Europe on a steady pathway to energy independence. Since the escalation of the conflict in the Middle East, the EU has spent an additional €24bn on energy imports due to higher prices – without receiving any extra energy.
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Profitable growth for marketing – without fossil fuels
Campaign group Clean Creatives has put forward a way for the marketing industry to exit fossil fuel relationships while taking up the opportunities available to them from emerging high-growth industries such as renewables, the circular economy and healthcare.
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Sulphur emission limits set for the Mediterranean Sea
The Mediterranean Sea has officially become an Emission Control Area under MARPOL Annex VI. The sulphur content in fuel oil for ships operating in the area is now limited to 0.1%, significantly reducing air pollution and delivering major benefits to both human health and the marine environment.