The analysis finds that holding temperature rise to 1.5°C above preindustrial levels is 'less likely than ever.'
Share on linkedin issued by risk management firm DNV is among a suite of reports that help frameIt explores how rapid deployment of renewables and other climate-friendly tech is greatly slowing fossil fuel growth, preventing some of the worst future climate outcomes.
But while coal has leveled off, clean sources have yet to reverse overall fossil growth — let alone start shoving emissions downward fast enough to keep the 1.5°C north star in view. "Globally, the energy transition has not started, if, by transition, we mean that clean energy replaces fossil energy in absolute terms," DNV CEO Remi Eriksen said in a statement.DNV sees global energy-related emissions peaking in 2024, but falling too slowly to be Paris friendly, with a 46% cut at midcentury.
Geopolitical risks — notably Russia's attack on Ukraine — have boosted focus on energy security and local supplies. "This trend is favouring renewables and nuclear energy in all regions and coal in some regions," the report states.That's far below the catastrophic levels that would be in store, absent steep zero-carbon energy growth.Share on linkedin
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Suriname seeks $30 per credit in first Paris Agreement carbon sale -ministerIn its race to be the first country to sell carbon credits under a new Paris Agreement scheme, Suriname has set a price of $30 per credit in a bid to raise $144 million, the country's environment minister told Reuters on Tuesday.
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