Brussels: An EU ban on new oil, gas, and coal projects would be perfectly feasible, according to a new legal analysis published today by Greenpeace EU. With average global temperatures projected to exceed 1.5 degrees above pre-industrial levels for the first time in 2024, the urgency to address the climate crisis is increasingly pressing, stated Greenpeace.

According to Emirates News Agency, fossil fuels remain the largest contributor to the global climate crisis, responsible for over 75% of global greenhouse gas emissions and nearly 90% of all CO2 emissions. A growing number of governments acknowledge the necessity to phase out oil, gas, and coal. The International Energy Agency and International Institute for Sustainable Development both assert that new fossil fuel developments must halt to achieve net-zero carbon emissions by 2050 and prevent the worst impacts of climate change.

Greenpeace EU climate campaigner Thomas Gelin emphasized, "Fossil fuels are by far the biggest cause of climate breakdown, but even now the EU and national governments approve and fund new drilling, pipelines, and import terminals. If you want to kick a smoking habit, at some stage you have to stop buying new packs of cigarettes. The EU must get on track to a world without oil, gas, and coal - for a safe climate, clean air and water, and affordable energy for all. It's time for a ban on new projects that perpetuate this crisis."

The legal analysis has determined that the EU can propose and pass a legislative ban on new fossil fuel projects within its territory. It states that such a ban is necessary for the EU to fulfill its climate and human rights commitments and that the EU has the competence to implement it as a collective response to the climate crisis affecting the entire region. This analysis is released in the same month the EU is expected to present its updated 'nationally determined contribution' under the Paris climate agreement, where governments agreed to limit global temperature rise to 1.5 degrees Celsius.

For fossil gas alone, new projects in the EU could cost up to £84.1 billion, with additional annual emissions potentially equivalent to nearly 300 coal-fired power plants. This scenario could strain European governments' and citizens' budgets and divert the region from its climate goals, as calculated by Global Energy Monitor.