Everyone has a role to play in achieving net zero
Contributions will be required from many sources—from people taking individual responsibility to the creation of economy-wide partnerships—if we are to achieve a sub-2°C outcome
Like it or not, consumers are reliant on fossil fuels. Some of the largest capital investments we make are on cars or boilers that have long lifespans and cannot simply be replaced overnight. Likewise, industry has invested huge sums in thermal power plants, which have 40-year lifespans, providing our electricity supply security. These assets create demand stickiness for fossil fuels, which complicates the challenge of meeting climate goals. Despite tremendous growth in renewables over the last ten years, the energy supply mix has not shifted from 80pc fossil fuels. While renewable electricity was over 70pc of the new global installed capacity, fossil fuels, mainly coal, made up over 50pc of
Also in this section
12 November 2024
Standards have been agreed for a mechanism under Article 6.4 of the Paris Agreement to trade carbon credits internationally
8 November 2024
The energy sector will need all viable technologies to meet surging demand as AI and datacentres drain power grids
31 October 2024
Russia still aspires to become a major supplier of hydrogen, CO₂ storage capacity and carbon credits, despite financial constraints and the loss of Western technology and expertise
30 October 2024
Occidental subsidiary signs agreement with Enterprise Products Partners for pipelines and transport services for Bluebonnet hub