What is the latest carbon economy index?

Price Water house Coopers (PwC) recently analyzed low carbon economy index. According to the new analyses, reducing carbon emission per unit of GDP decrease 2°C Global warming while the current rates of emission growth are 6°C by the end of century. Therefore, it needs to reduce global carbon intensity by an average of 5.1% for limiting global warming to 2°C per carbon emission per unit of GDP.
Although, it hasn’t been achieve since 1950, when this record began. Jonathan Grant, director, sustainability and climate change, PwC said: ‘The risk to business is that it faces more unpredictable and extreme weather, and disruptions to market and supply chains. Resilience will become a watch word in the boardroom – to policy responses as well as to the climate. More radical and disruptive policy reactions in the medium term could lead to high carbon assets being stranded.”
The new reality is a much more challenging future in terms of planning, financing and predictability,’ he added. ‘Despite growing international attention on climate change, the financial crisis still is big suppressor for reduction of carbon emissions – the carbon intensity fell by 1% since 1950.Leo Johnson, partner, PwC noted that ‘While we’ve reversed the increase in emissions intensity reported last year, we’re still seeing results that are simply too little too late. We’ve now got to achieve, for the next 39 years running, a target we’ve never achieved before.’
Jonathan Grant, director, sustainability and climate change, PwC added that ‘The challenge now is to implement gigatonne scale reductions across the economy, in power generation, energy efficiency, transport and industry, as well as REDD+ in forested nations.’ According to examining the role of shale gas, PwC’s report recommended that “at current rates of consumption, replacing 10% of global oil and coal consumption with gas could deliver emissions savings of around 3% a year (1gt C02e per annum)”.
However the report alarmed that “while it may ‘buy some time’, it reduces the incentive for investment in lower carbon technologies such as nuclear and renewables, and could lock in emerging economies with high energy demand to a dependence on fossil fuels”
GLOBE-Net, 2012, Business as usual is not an option Retrieved from https://www.environmental-expert.com/news/business-as-usual-is-not-an-option-325540

Categorised in: EPA