Briefing Paper — Pathways to 1.5/2°c-compatible oil is managed decline the only way?
In November 2016 the Paris Agreement came into force as governments responsible for at least 55% of total global GHGs deposited their instruments of ratification. The huge task that lies ahead in terms of delivering an economic transition that keeps the climate safe will now require an informed and sustained engagement between fossil fuel companies and the rest of society. Tackling a problem of this magnitude will need all stakeholders to play a part – not just ‘energy decisionmakers’. This paper focuses on the challenges faced by one subset of fossil fuel companies, the oil and gas majors, and sets out their options to plausibly respond.