After 27 rounds of COP negotiations on greenhouse gas emissions, discussions on production limitation are still relatively new. There is currently no linkage, nor forum for discussion, between commitments to reduce emissions under the Paris Agreement and global future production targets. Several factors could make supply-side (production) discussions easier than emissions negotiations: there are only a small number of large producer states; and production regulation could have positive economic benefits for producers, including increased stability of pricing and avoidance of excessive investments in new production assets which could become stranded in an energy transition. The barriers are also substantial, including fears of lost revenue, geopolitical competition and a focus on energy security, and a lack of agreement on the future prospects of the oil and gas markets. Any agreement which impacts prices would also have global impacts on consumers, raising questions of equitable transition.
This webinar will discuss pathways to equitable fossil fuel supply management. The discussion will engage possible political structures that could be used to achieve this result, including the two existing initiatives of the Fossil Fuel Non-Proliferation Treaty and the Beyond Oil and Gas Alliance. The discussion will engage some of the economic questions linked to a possible agreement, including future production levels. Finally, the discussion will engage what a future agreement would mean for a just transition, drawing parallels to existing conversations around COP emissions discussions.
Read this webinar's concept note.
This event forms part of Vance Culbert's fellowship at the Geneva Academy and his research on the geopolitical and economic barriers to bringing about an agreement on supply-side limitation, and how this could be brought in line with protection considerations required for a just transition.
Vance Culbert is a senior development and humanitarian professional who has managed operations for NGOs and UN agencies over the past twenty years. He just started as a Visiting Fellow at the Geneva Academy and will stay with us until the end of October.
This research aims at mainstreaming the right to a clean, healthy and sustainable environment and the protection it affords in the work of the UN Human Rights Council, its Special Procedures and Universal Periodic Review, as well as in the work of the UN General Assembly and UN treaty bodies.