OCI Team posted: ” Greg Muttitt and Sivan Kartha June 2020 DOWNLOAD THE ACCEPTED MANUSCRIPT VIEW THE PUBLISHED STUDY As COVID-19 and other factors force an unmanaged decline of oil and gas, a new peer-reviewed study by Greg Muttitt and Sivan Kartha outli”
New post on *Oil Change International*
Download the Accepted Manuscript
Greg Muttitt and Sivan Kartha
*DOWNLOAD THE ACCEPTED MANUSCRIPT*
*VIEW THE PUBLISHED STUDY
As COVID-19 and other factors force an unmanaged decline of oil and gas, a new peer-reviewed study by Greg Muttitt and Sivan Kartha outlines how policymakers can plan for a better future, with an equitable phase-out of fossil fuels. The paper was published in the journal *Climate Policy* on May 31, 2020. The PDF available on this page is the accepted manuscript.
The study examines the world’s largest fossil-fuel-producing countries and considers how an energy transition would impact their workers, communities, economies and governments. It finds a stark difference between developing countries and wealthy ones – namely, that fossil-extracting developing countries are far more dependent on oil and gas revenues and on coal mining jobs. For example: oil and gas revenues provide 60% or more of public revenues in Timor Leste, Equatorial Guinea, and Iraq, while they account for close to 0% of these revenues in the UK and US.
Based on this review, the study’s authors examined common equity approaches and propose five principles to ensure a just transition:
1. *Phase down global extraction consistent with 1.5°C*. Countries can do this through both economic and regulatory approaches, including extraction taxes and licensing moratoria. 2. *Enable a just transition for workers and communities*. Key elements of this principle include sound investments in low-emission sectors, social protection for fossil-fuel workers, and local economic diversification. 3. *Curb extraction consistent with environmental justice*. Ending fossil fuel extraction should be prioritized where communities disproportionately experience the harms of extraction (such as pollution) and not the benefits. 4. *Reduce extraction fastest where social costs of transition are least*. Wealthier, diversified economies – such as the US, Canada, UK and Norway – should phase down production quickly, as they can better mitigate and absorb the adverse impacts on workers and communities. 5. *Share transition costs fairly*. The largest burden should be borne by those with the “broadest shoulders,” or ability to pay. In practice, this means wealthy countries – who have already benefited the most from past extraction – should bear the most cost.
*Click to download the accepted manuscript.
*Trouble clicking?* Copy and paste this URL into your browser: priceofoil.org/2020/06/01/equity-climate-justice-and-fossil-fuel-extraction-principles-for-a-managed-phase-out/