Jim Skea, newly appointed chair of the U.N.’s Intergovernmental Panel on Climate Change (IPCC), warns that policymakers risk ignoring a significant economic and environmental threat by continuing fossil fuel production.
Skea emphasizes that the costs of inaction are escalating rapidly, highlighting that the impacts of climate change are now visible and immediate, not just projections for the future.
Recent global heat records have intensified the urgency to cut greenhouse gas emissions. July set a new record for the hottest month, and extreme temperatures have affected vast regions, including Europe, North Africa, and parts of South America. Skea noted that the pace of climate change is faster than anticipated, catching many by surprise.
Skea, a professor at Imperial College London, underscores the necessity of transformative action to address the climate crisis.
Jim Skea highlights the urgent need to cut emissions and avoid severe impacts.He points out that to limit global warming to 1.5 degrees Celsius—a target crucial to avoiding severe climate impacts—significant fossil fuel reserves must remain untapped. The IPCC estimates that up to 80% of coal, 50% of gas, and 30% of oil reserves must stay in the ground to meet these goals.
Despite this, some nations, including the U.S. and China, continue investing in fossil fuels for energy security reasons.
This includes new fossil fuel projects like the U.K.’s expansion of North Sea oil and gas drilling and the UAE’s energy strategy. Skea cautions that such decisions defer critical choices about whether to exploit these reserves or adhere to climate targets.
The IPCC has projected that fossil fuel investors might face losses of up to $4 trillion if climate policies effectively limit emissions. Skea urges policymakers to address the social and economic impacts of these decisions head-on, stressing that immediate, ambitious action is needed to avoid severe long-term consequences.