A new report from the International Energy Agency (IEA), a Paris-based autonomous intergovernmental organization that offers policy recommendations, analysis and data on the global energy sector, suggests that the oil and gas sector — a major emitter of planet-warming gases — needs an absolute overhaul to avoid worse extreme weather events associated with climate change.

The report suggest that oil- and gas-associated greenhouse emissions, attributed to the burning of fossil fuels such as oil, will need to be reduced by 60% to meet climate goals.

With estimates that the energy sector is responsible for more than two-thirds of all human activity-related greenhouse gas emissions, and, that oil and gas is specifically responsible for about half of those as well as for more than 60% of methane emissions, oil and gas companies are being urged to find clean energy solutions, such as hydrogen and hydrogen-based fuels and carbon capture technologies, the report detailed.

The full report, "The Oil and Gas Industry in Net Zero Transitions," is available on the IEA website.