by Matt Mace, Sep. 19, 2019 in Euractiv
Global decarbonisation efforts will need to be seven times greater if the world is to stand a fair chance of limiting global warming to 1.5C, according to a new PwC report which found decarbonisation has slowed to its lowest level since 2011. EURACTIV’s media partner edie.net reports.
PwC UK’s latest Low Carbon Economy Index (LCEI), published today (19 September), found that reaching the Paris Agreement’s 2C limit for global warming would require the global economy to reduce its carbon intensity by 7.5% every year up to 2100. The report notes that this is five times faster than the current decarbonisation rate of 1.6% – less than half the decarbonisation rate witnessed in 2015 (of 3.3%), when the Paris Agreement was introduced.
In order to meet the more ambitious target of the Paris Agreement – limiting global warming to 1.5C which has been requested by the Intergovernmental Panel on Climate Change (IPCC’s) special report – decarbonisation rates must reach 11.3% annually. That is seven times greater than the current rate, which has slowed to its lowest level since 2011.