Renewable generation is projected to form 80-90pc of the global energy mix by 2050
Net-zero targets ‘inadequate’ to hit Paris goals – McKinsey
Faster shift away from fossil fuels toward efficiency, electrification and new fuels needed to keep 1.5°C pathway in sight, according to consultancy
Global warming is projected to reach 1.7°C by 2100—exceeding the goals of the Paris Agreement—even if all countries with net-zero commitments deliver on their aspirations, according to modelling in consultancy McKinsey’s Global Energy Perspective. Most major emitters have committed to net-zero goals, but more will need to be done in the near-term if the world is to stay within reach of the 1.5°C pathway laid out in Paris. “To keep the 1.5°C pathway in sight, even more ambitious acceleration is needed,” says Christer Tryggestad, senior partner at McKinsey. This means a faster shift away from fossil fuels toward efficiency, electrification and new fuels over the next few years. The report echo
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E&P company is charting its own course through the transition, with a highly focused natural gas portfolio, early action on its own emissions and the development of a major carbon storage project
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The oil behemoth recognises the need to broaden its energy mix to reduce both environmental and economic risks
