Greenhouse gas emissions must peak by 2025, and can be nearly halved this decade, according to the Intergovernmental Panel on Climate Change (IPCC), to give the world a chance of limiting future heating to 1.5C above pre-industrial levels. Soaring energy prices and the war in Ukraine have prompted governments to rethink their energy policies. Many countries – including the US, the UK and the EU – are considering ramping up fossil fuels as part of their response, but the IPCC report made clear that increasing fossil fuels would put the 1.5C target beyond reach.

With a supermajority of major US electric companies now working towards net zero goals, a new set of first movers are evolving their climate ambitions to include Scope 3 the largest portion of the power sector’s total carbon emissions.

Many businesses pledged to reduce their greenhouse gas emissions, but some environmentalists now warn of empty promises. The 16-member panel will make recommendations before the end of the year on the standards and definitions for setting net-zero targets.

Methane, which is the primary component of natural gas, traps 84 times more heat than carbon dioxide during its first 20 years in the atmosphere. Scientists say that curbing the kinds of intentional releases that Gazprom engaged in — known in the industry as venting — is some of the lowest hanging fruit in the fight against climate change.

However, despite gains in wind and solar, coal-fired power generation saw its fastest growth since at least 1985, up 9% in 2021.

Hundreds of climate change protesters blocked oil terminals across Britain on Friday with some supporters climbing on top of oil tankers as part of their campaign to force the government to end its reliance on fossil fuels.

The UK’s emissions have rebounded following years of recorded reductions after the ending of lockdown and uptake in transport delivered almost a 5% increase in year-on-year emissions in 2021.