Oil and gas firms must convert to renewables or face decline, says IEA chief

Fatih Birol: ‘I very much hope we will see a strong signal to energy markets that fossil fuel use needs to decline.’ Photograph: Ole Berg-Rusten/EPA

Oil and gas producers must convert their operations to renewable energy or face steep economic decline, the world’s chief energy adviser has said amid the forging of a new alliance of energy companies at the UN Cop28 climate summit.

Fatih Birol, executive director of the International Energy Agency, said: “We have to find a way to reduce fossil fuel consumption, and as such there is an important role that the oil and gas industry can play. I very much hope that they can show in Dubai that they can be part of the solution when it comes to tackling climate change.”