This country refuses to phase out fossil fuels
While the majority of countries around the world are aiming to phase out fossil fuel use in transportation and other sectors, Australia is refusing to do so. Australian Prime Minister Scott Morrison has reportedly refused to commit to phasing out fossil fuels.
Australia is the world's top coal and a major gas exporter. The country is under growing pressure to come up with emissions reduction targets ahead of November 2021's COP26 United Nations climate conference in Scotland, reports Reuters. The International Monetary Fund has asked Australia to set a time-bound target to reach net-zero emissions.
Speaking about the zero-emission strategy, the Australian Prime Minister has said that the country is still working on its emissions plans. He said that the change will take place over time. "We are working on the transition technologies and fuels and the ultimate technologies that will be there over the next 20, 30 years that can get us to net-zero... This doesn't happen overnight," he said.
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On the back of rising concerns around global warming and climate change, demands for banning fossil fuels are increasing. Also, the demands for using sustainable energy sources are increasing.
Several countries in Europe have already set deadlines for the auto industry for using petrol and diesel engines in their respective vehicles. The countries such as France, UK, Germany are focusing on introducing an all-electric vehicle fleet in a few decades. The automakers too are focusing more on investing huge sums of money for the development of greener engine technology and fuel solutions.
This is increasing pressure on the fossil fuel sector for quite some. Australia being one of the major fossil fuel exporters in the world is also facing heat from the changing trend.