They are saying, “We are witnessing the beginning of the end of the fossil fuel era and we have to prepare ourselves for the next era”.
Fatih Birol from the IEA states:
Oil and gas companies may not only be misjudging public opinion...they may well be misjudging the market if they expect further growth of oil and gas demand across this decade.
New large scale fossil fuel projects carry not only major climate risks but major financial risks.
How do you assess the IEA's warnings to companies that are preferring to drill down on oil and gas rather than diversify? Do you think that is a threat to our economic competitiveness?