Is it possible to achieve the targets of the Paris Agreement with the current emission levels released into the atmosphere? It will be extremely difficult, according to a new report that has been added to previous ones along the same lines. Countries should put much more effort into starting from the beginning. Spain increasing emissions rather than reducing emissions in 2021 significantly.
Limiting the global warming of the planet to 1.5 degrees Celsius, which is the target of compliance with the Paris Climate Agreement, will require an annual decarbonization rate of 15.2 percent, an “unprecedented” level; According to the conclusion of a report by the PwC Foundation, which warns that none of the top 20 economies are going fast enough.
The ‘Net Zero Economy Index Report’ study shows that: last year, the reduction in carbon intensity in the global economy was 0.5 percentCO2 emissions per unit of Gross Domestic Product (GDP) in Spain increased by 4.39 percent in 2021.
The report concludes: None of the countries that are part of the G-20 (the world’s twenty most advanced economies) are decarbonizing their economies fast enough Enough to limit the planet’s global warming to 1.5ºC by 2050.
2021: lowest decarbonisation of the last decade
The Net Zero Economy Index 2022 shows whether you are willing to meet the goals of the Paris Agreement, which were approved at the Climate Summit (COP26) held in Glasgow (UK) in November 2021. Globally it must be reduced by 15.2 percent annually, with decarbonization in 2021 barely progressing 0.5 percent, which represents the lowest level in the last decade.
Especially in 2021 Nine of the twenty largest economies – accounting for 80% of energy use-related emissions – have increased their carbon intensity.
The study shows that China managed to reduce its carbon intensity by 2.8 percent, While it increased by 0.1 percent in the USA; India 2.9 percent; Japan, 0.6 percent; Germany 1.7 percent and France 1.4 percent.
On your own behalf Spain increased its emissions intensity by 4.39 percent compared to the previous year. Despite this, emissions intensity in Spain is at par with the EU average and below the world average, which is 132tCO2/$m GDP in Spain and 266 tCO2/$m GDP worldwide.
Pablo Bascones, Partner for Sustainability and Climate Change at PwC, Recovery of energy consumption after the cessation of activity due to the pandemic in 2020Combined with a higher rate of fuel consumption relative to total primary energy, it has led to “a worsening of emissions intensity in Spain compared to fiscal 2020”.
“The results of 2021 remind us that: If we want to achieve a net zero economy, we must act urgently.. Countries as a whole and all public and private organizations individually should significantly accelerate the current trend of reducing absolute emissions. If we fail in this task, the costs of adapting to climate change will continue to rise.”
Despite these data, the study companies continue to drive the climate agenda, It is driven by changes in the consumer and regulatory environment and increasing investor recognition of the importance of the low-carbon transition.
But he warns that the current geopolitical context, marked by rising energy prices and supply threats, supports the use of fossil fuels in the short term.
More information and full report: https://www.pwc.es/es/publicaciones/sostenibilidad/pwc-net-zero-economy-index-2022.html
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Environment department contact address:crisclimatica@prensaiberica.es
Source: Informacion
Anika Rood is an author at “Social Bites”. She is an automobile enthusiast who writes about the latest developments and news in the automobile industry. With a deep understanding of the latest technologies and a passion for writing, Anika provides insightful and engaging articles that keep her readers informed and up-to-date on the latest happenings in the world of automobiles.