The French lower house of parliament has passed a law that provides for the gradual abandonment of the exploration and production of oil, gas and coal by 2040, according to a communique by the French Ecology Ministry.
“This law links the legislation with the obligations taken within the Paris climate accord,” French Ecology Minister, Nicolas Hulot, said, as quoted in the communique.
French authorities are expected by 2020, to not only refuse issuing new licenses for the exploration and production of hydrocarbon fields, but also to limit the extension of old licenses.
The development will see France gradually abandon the production of hydrocarbon fuels by 2040.
The Paris Agreement, signed by more than 190 parties and ratified by 171, was adopted within the UN Framework Convention on Climate Change in December 2015 and came into force in November 2016 With an objective to tackle climate change.
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