The United States-based Global Energy Monitor (GEM), a non-governmental organization which catalogs fossil fuel and renewable energy projects globally and shares, has issued a report which states that, going forward, oil and gas producers are seeking to quadruple their investments in the oil and gas sector despite the International Energy Agency’s (IEA) warning issued three years ago that new oil and gas fields are incompatible with the 1.5°C climate target. Guyana has been named as one of four countries (the other three being Cyprus, Namibia and Zimbabwe) from which over a third of the additional volumes are expected to come.
