Fuel Consumption Declines, BP and Fossil Fuel Companies at Risk, Global Strategy Proposed to Limit Global Warming

Fuel consumption in Europe is expected to decline due to weak economic growth and reduced demand in the manufacturing and transportation sectors. BP and other fossil fuel companies may face credit downgrades due to climate risk. The International Energy Agency proposes a global strategy to limit global warming to 1.5C, including tripling global renewable capacity and implementing innovative financing mechanisms.