We need to strive for a future that allows us to expand access to electricity for more people globally, all without harming our planet. In this world, rapid development does not come with a looming environmental crisis. This is the world we can create by transitioning away from fossil fuels (oil, gas, and coal) that currently power everything from cars to factories.
G20 countries are at a critical juncture. They must decide whether to continue their reliance on fossil fuels, deepening the climate catastrophe, or to accelerate a phase-out and navigate potential economic disruptions. This fact sheet explores the challenges of phasing out fossil fuels and highlights the urgent need for this transition to achieve a sustainable future.
Why are fossil fuels hard to let go of?
Fossil fuels are everywhere and power the majority of our economic output. Oil powers 90% of global transport, while coal and gas are critical for electricity, industry, and food production. These fossil fuels are detrimental to our planet, as they emit greenhouse gases that contribute to climate change. Climate change results in significant adverse impacts on the world as we know it. It leads to rising temperatures and increased wildfires, ecosystem destruction, including the loss of flora and fauna, worsened floods and droughts, the spread of diseases, and mass migration as people flee uninhabitable regions.
Learn more
Explore the full findings and recommendations in the IEJ’s G20 Fossil Fuel Phase-out Factsheet.
Other factsheets in the 2025 G20 series include:
- What is the G20?
- International taxation
- African debt crisis
- Food security
- Climate financing
- Green industrialisation
- Universal social floors
- Women empowerment