Peak in Energy Emissions Seen as Too Slow for Net Zero Goal
- DNV says peak will mark key point for global energy transition
- But that won’t be enough to hit net-zero targets by 2050
Gas supplies that once flowed to Asia are now being diverted to Europe, meaning countries such as China, Pakistan and Indonesia are also burning more coal.
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Global energy-related emissions should peak next year — marking a key point for the renewables transition — but the shift will be too slow to meet 2050 net-zero targets, DNV said.
In the five years to 2022, renewables met just over half of new energy demand, with fossil-fuel usage still growing in absolute terms, the Norwegian risk management company said in a report. Limiting global warming to 1.5C looks less likely than ever, it said.