MEDIA CENTER

It’s an initiative to phase-out fossil fuels and fast-track climate solutions inspired by the Nuclear Non-Proliferation Treaty. Based on 3 pillars:

NON-PROLIFERATION: Preventing the proliferation of coal, oil and gas by ending exploration and production.

GLOBAL DISARMAMENT: Phasing-out existing stockpiles and production in line with Paris 1.5C goal.

PEACEFUL TRANSITION: Fast-tracking solutions and a just transition for every worker, community and country.

An unprecedented level of global cooperation and coordination is called for as the world faces COVID-19, extreme economic vulnerabilities and the climate emergency at the same time. The time for a Fossil Fuel Non-Proliferation Treaty is now.

Existing climate treaties, like the Paris Agreement, don’t directly address the fossil fuel industry. A Fossil Fuel Non- Proliferation Treaty is needed to accelerate a global and equitable transition away from fossil fuels to renewable, low-carbon energy and economies.

We’re calling for a fair and managed phase out, including price stability. If supply is reduced by increasing costs, risks or uncertainty then neither prices nor incentives to produce or invest may increase. Also, whether price and incentives increase depends on demand which is also expected to decline.

The Treaty can also encourage countries to remove subsidies and other policies giving fossil fuels an unfair advantage. A host of measures - taxes, charges, penalties - exist to prevent windfall profits proving a perverse incentive for the industry to grow, and instead channel resources towards solutions.

UNFCCC is important but inadequate; we need to complement it with a Fossil Fuel Non-Proliferation Treaty. We support using the UNFCCC and Paris Agreement to constrain fossil fuel supply. This can include use of NDCs, long-term strategies, and finance, technology and capacity.

But the UNFCCC and Paris Agreement don’t mention fossil fuels, and aren’t fit for purpose. They have not constrained supply and current commitments exceed 3ºC by 2100. The Production Gap Report says supply is 120% greater than 1.5ºC budget by 2030.This is “decade zero” and we need to complement Paris with a treaty focused on fossil fuels.