No time to spare

This is a make or break moment with fossil fuel expansion threatening vital regions in the Amazon and Congo basins and the Coral Triangle —three of the most bioculturally diverse ecosystems on the planet. Learn about what is at stake in terms of oil and gas production and exploration blocks and overlap with priority forests, Indigenous territories, and biodiversity hotspots. Explore perspectives from Indigenous and regional leaders, and bold and disruptive solutions for charting different paths forward. Tropical rainforests cover just 6% of the Earth’s surface, but contain over 50% of its species. Similarly, the ‘Coral Triangle’ occupies just 1.5% of the world’s total ocean area, it contains 30% of the coral reef area on the planet, and it is also home to nearly all of the world’s marine turtle species. Despite their critical importance for the future of humanity, preserving primary and priority forests and critical marine ecosystems has not yet risen to be a global priority.

The International Energy Agency (IEA) has stated that in order to limit global warming to within the threshold of 1.5 C, no further fossil fuel expansion must take place. However, with current forecasts, in 2030, governments’ production plans and projects are accelerating and would lead to around 240% more coal, 57% more oil, and 71% more gas than would be consistent with limiting global warming to 1.5 C. The relentless growth of fossil fuel exploration in ecosystems that are critical carbon sinks and reservoirs of biodiversity not only imperils global climate stability, but also poses a grave threat to biodiversity and the livelihoods of millions of Indigenous peoples and local communities. The financial and business sector as well as governments have a key role to play in reducing threats to critical ecosystems and Indigenous and local communities.

Agenda

Recording