Can fossil fuels be regulated like nuclear weapons? 

Should fossil fuels be regulated the way nuclear weapons are? A group of governments and civil society organisations believe so, and are pushing the idea of a fossil fuel non-proliferation treaty (FF-NPT).

“Just like 50 years ago, when the world used international treaties to defuse the threats posed by nuclear weapons, today, the world needs a Fossil Fuel Non-Proliferation Treaty to phase out fossil fuels, support dependent economies, workers and communities to diversify away from fossil fuels, ensure 100% access to renewable energy globally and promote a just transition that leaves no-one behind,” the Fossil Fuel Non-Proliferation Treaty Initiative says on its website. The global organisation is made up of civil society members, indigenous peoples, activists, academics, and experts

Three days after COP29 began, a network of 70 sustainable banks, the Global Alliance for Banking on Values, said that 25 of its members were endorsing the FF-NPT. This is the first collective endorsement of the initiative by financial institutions.

At the press conference in Baku last week, Tzeporah Berman, Chair and Founder of the Fossil Fuel Non-Proliferation Treaty Initiative, spelt out the latest threats to the planet.

“To add to the evidence of our own eyes, scientific reports released here at COP29 show that fossil fuel emissions are projected to be about 8 per cent higher this year than in 2015, when the Paris Agreement was signed. The year 2024 is set to be the hottest year on record. This means that the world is still not on track to confront this crisis, with major fossil fuel-producing countries planning on producing more than 110 per cent more fossil fuels by 2030 than would be compatible with limiting global warming to 1.5 degree Celsius,” she said.