PwC: Speed ​​to reduce CO2 emissions need to increase fivefold to reach Paris Agreement

Get real time updates directly on you device, subscribe now.

According to the PwC Net Zero Economy Index 2021, a rate of reduction of carbon emissions of 12.9% is required – five times higher than the rate achieved last year (2.5%) and eight times faster than global average over the 21st century – to halve global emissions by 2030 and achieve a zero carbon balance by the middle of the century. These are the steps that need to be taken to achieve the goal of the Paris Agreement, to keep the temperature rising below 1.5 ºC and to avoid a catastrophic climate change.

Global energy demand fell by 4.3% in 2020, leading to a reduction in energy-related emissions by 5.6% (from 2019 levels), as well as a reduction in total global emissions. As a result, the global rate of reduction of carbon emissions (reduction of carbon intensity: CO2 emissions from energy production per dollar of GDP) reached 2.5%. However, this is a small increase compared to 2.4% in 2019. In addition, the reduction in emissions caused by this energy demand abnormality is still far behind the progress needed to keep the temperature rising below 1.5 .C.

Emma Cox, PwC Global Climate Leader, says: “Over the years, businesses and governments have significantly upgraded their climate change ambitions. However, the emissions gap continues to widen. “The steps taken so far are not enough to meet the scale and urgency of the global climate crisis. All sectors of the economy will need to be transformed to achieve zero emissions.”

Even with the global economic slowdown in 2020, no G20 country has been able to reach the 12.9% reduction in carbon emissions needed to reduce global warming to 1.5 ° C. . Only a few countries have managed to achieve double-digit reduction over time. Although the majority of the G20 have set ambitious climate goals, they need to translate them into clear actions and policies that will lead to the necessary changes.

PwC Greece notes in the relevant announcement that it has a clear commitment and takes action to achieve zero carbon balance by 2030 through changes in its operation, training of its people and the overall network of customers and suppliers.

.

Source From: Capital

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.