Home / Business / World Business / IRENA: Global energy CO2 emissions could be cut by 70% by 2050

IRENA: Global energy CO2 emissions could be cut by 70% by 2050

Global energy-related carbon dioxide (CO2) emissions could be reduced by 70 percent by 2050 and completely phased out by 2060, research by the International Renewable Energy Agency (IRENA) showed on Monday.

To help achieve this, the share of renewable energy in primary energy supply would need to increase to 65 percent in 2050 from 15 percent in 2015, the report said.

An additional $29 trillion of energy investment would be needed to 2050, equivalent to 0.4 percent of global gross domestic product (GDP).

Such investment should provide stimulus that, with other policies supporting growth, would boost global GDP by 0.8 percent in 2050.

Globally, 32 gigatonnes of energy-related CO2 were emitted in 2015. Emissions need to fall to 9.5 gigatonnes by 2050 to limit global warming to no more than 2 degrees Celsius above pre-industrial temperatures, IRENA said. (Reuters)

Check Also

Rothschild, Telecom Italia ‘working to find broadband partner’

Rothschild is working with Telecom Italia to find a partner to help fund part of the Italian phone group's broadband business in Italy, three sources said on Tuesday.

South African Finance Minister ordered home

Finance Minister Pravin Gordhan was set to return to South Africa early on Tuesday after he was ordered home by the president, a move that rattled markets amid media reports that he might be sacked.

Leave a Reply

Your email address will not be published. Required fields are marked *