Delivering immediate cuts to emissions Rapid progress can be achieved in a range of ways, including an accelerated shift away from coal, cuts to Scope 1 and 2 oil and gas emissions, greater energy efficiency, AI, and the expansion in CCUS use
The International Energy Agency (IEA) expects global energy demand to increase by 4.6% in 2021, led by emerging markets and developing economies as they come out of COVID-19. As a result, IEA’s Global Energy Review 2021 estimates that “global energyrelated CO2 emissions are on course to surge by
1.5 gigatons in 2021, increasing by almost 5% to 33 gigatons – the second-largest increase in history.” The COP26 ‘Glasgow Climate Pact’ expressed “alarm and utmost concern that human activities have caused around 1.1°C of warming to date, that impacts are already being felt in every region, and that carbon budgets consistent with achieving the Paris Agreement temperature goal are now small and being
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rapidly depleted.” The Pact asked for “rapid, deep
DECEMBER 2021
