World is on track to drain remaining carbon budget for 1.5C scenario by end of this decade and put world on track for 2.3C of warming by 2100, according to latest edition of DNV’s influential Energy Transition Outlook. The carbon budget for a 1.5C warming scenario is on track to be exhausted by the end of this decade after pandemic recovery packages largely failed to put the world on a more sustainable development pathway. That is the stark conclusion of the latest report from global risk management and energy research company DNV GL, which argues the response to the coronavirus pandemic represents a “lost opportunity” to speed up the energy transition. The fifth edition of the firm’s Energy Transition Outlook highlights how the majority of Covid-19 recovery packages have been spent on maintaining the status quo within existing industries, rather than catalysing a more rapid deployment of clean infrastructure.
Business Green 1st Sept 2021 read more »