Carbon emissions ‘will drop just 40% by 2050 with countries’ current pledges’

Cop26Carbon emissions ‘will drop just 40% by 2050 with countries’ current pledges’International Energy Agency says $4tn investment needed over decade to reach net zero target Rob Davies@ByRobDaviesWed 13 Oct 2021 00.00 EDTLast modified on Wed 13 Oct 2021 03.11 EDTCurrent plans to cut global carbon emissions will fall 60% short of their 2050 net zero target, the International Energy Agency has said, as it urged leaders to use the upcoming Cop26 climate conference to send an “unmistakable signal” with concrete policy plans.In its annual World Energy Outlook, redesigned this year as a “guidebook” for world leaders attending the summit in Glasgow, the IEA predicted that carbon emissions would decrease by just 40% by the middle of the century if countries stick to their climate pledges.The organisation said the difference between current plans and the change necessary to reach the net zero target was “stark”, requiring up to $4tn (£2.94tn) in investment over the next decade alone to bridge the divide.The IEA’s executive director Fatih Birol told the Guardian that major economies recovering from Covid-19 were already missing the opportunity to spur investment in clean energy.‘Overwhelming’ backing for strong climate action, UK study showsRead more“We are witnessing an unsustainable recovery from the pandemic,” he said, pointing to sections of the report that show coal use growing strongly, contributing to the second-largest increase in CO2 emissions in history.Birol called for developing economies in particular to make …

12/10/2021