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Emissions and Coal Have Peaked as Covid-19 Saves 2.5 Years of Emissions, Accelerates Energy Transition

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Content development and editorial professional focusing on clean tech and sustainable energy industries. 24 years experience in technology trends market research, publishing, event development...

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  • Dec 4, 2020 9:51 pm GMT
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The stark drop in energy demand due to the coronavirus pandemic will remove some 2.5 years' worth of energy sector emissions between now and 2050, according to research company BloombergNEF's (BNEF) latest New Energy Outlook 2020 (NEO 2020).

BNEF's latest projection of the evolution of the global energy system over the next 30 years, using its proprietary Economic Transition Scenario, shows that emissions from fuel combustion peaked in 2019. Down approximately 8% in 2020 as a result of the Covid-19 pandemic, energy emissions rise again with economic recovery, but never again reach 2019 levels. From 2027 on, they fall at a rate of 0.7% per year to 2050.

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Matt Chester's picture
Matt Chester on Dec 4, 2020

Down approximately 8% in 2020 as a result of the Covid-19 pandemic, energy emissions rise again with economic recovery, but never again reach 2019 levels. From 2027 on, they fall at a rate of 0.7% per year to 2050.

The potential that we've reached peak emissions is indeed encouraging, but I can't help but feel that 0.7% reduction per year is still much too slow of a pace to truly meet the decarbonization goals that are necessary to prevent the worst of climate change. What do you think, Daniel? 

 

Bob Meinetz's picture
Bob Meinetz on Dec 4, 2020

Agree, Matt. I don't think we can conclude COVID-19 will have any effect on the "Energy Transition", although it might set climate change back a few months.

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