According to draft rules set by the Beyond Oil and Gas Alliance (BOGA) that were seen by Reuters:
- Restricting domestic oil and gas production in line with what is required to live up to the Paris Agreement goals will be the core focus for BOGA
- The thinking aligns with the IEA's report in May, which stated that no further investment in oil and gas is needed in a scenario where the world achieves net-zero emissions by 2050
Denmark's parliament voted in December last year to end oil and gas licensing and stop producing hydrocarbons by 2050.
The decision will cost Denmark about $2.1 billion, according to estimates by the energy ministry.
Costa Rica has a goal to become a 100% carbon neutral country by 2050 through its National Decarbonization Plan.
The Costa Rican government says 90.7% of the 2022 targets are underway, while 25% of the objectives set for the initial stage (2018-2022) have already been met.