Exxon Sees CO2 Emissions in 2050 More Than Twice Paris Goal
- More emissions cuts “needed” to meet climate goals, Exxon says
- Soaring energy demand outpaces emission-reduction efforts
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Exxon Mobil Corp. sees the world failing to reduce emissions fast enough to limit global warming to 2C (3.6F) above pre-industrial norms by 2050 due to soaring economic growth, particularly in developing countries.
Energy-related carbon dioxide emissions will be 25 billion metric tons by 2050, more than twice the 11 billion tons needed to meet the Intergovernmental Panel on Climate Change’s 2-degree scenario, Exxon said Monday in its annual Energy Outlook. While that represents a drop of more than 25% from the 34 billion ton peak expected this decade, it’s a long way from what’s required to meet the goals of the 2016 Paris Agreement.