Under the 2015 Paris Agreement, nations committed to limiting global warming to “well below” two degrees Celsius above the average temperatures recorded between 1850 and 1900, aiming for a target of 1.5 degrees Celsius if feasible. Efforts to date have not succeeded in meeting this challenge, the annual “Energy Transition Outlook” from Wood Mackenzie shows.
Unlike the UN pessimistic outlook, the Scottish consultancy believes that while major obstacles hinder short-term targets, particularly for 2030, a 2050 net-zero goal remains feasible. Immediate and coordinated global action would be necessary, WoodMac warns.
Threats to climate progress
A series of global crises, including the Russia-Ukraine conflict, escalating Middle East violence, rising populism in Europe and global trade tensions with China, are undermining the pace of the energy transition, Wood Mackenzie’s vice president head of scenarios and…
