France to ban oil and gas production by 2040

Paris – France’s government is unveiling a law to ban all production and exploration of oil and natural gas by 2040 on its mainland and overseas territories, reports AP/UNB.

The bill is to be formally presented in a Cabinet meeting later Wednesday.

Current drilling permits will not be renewed, according to the draft bill obtained by The Associated Press.

The government claims such a ban is a world first. The move is largely symbolic, however, as France’s oil and gas production represents just 1 percent of national consumption – the rest is imported.

The ban is part of a larger plan to wean the country’s economy from fossil fuels, to encourage clean energy and fulfill France’s commitments under the Paris Climate Agreement to curb global warming.