Emissions and Coal Have Peaked as Covid-19 Saves 2.5 Years of Emissions, Accelerates Energy Transition
- Dec 4, 2020 5:25 pm GMT
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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