A snapshot of the sustainable business world this month
G20 emissions analysis
The world’s largest economies need to cut their annual energy-related carbon emissions by 6.2% per dollar of Gross Domestic Product between now and the end of the century to avoid a 2°C increase in the global average temperature. The required decrease is more than four times the current level of emissions reductions. Annual energy-related emissions total just over 30bn tonnes of CO2 at present, and carbon intensity (emissions per dollar of GDP) is reducing at a rate of only 1.2%, according to the Low Carbon Economy Index.
The index singles out Australia as the fastest decarbonising economy among the G20, with a carbon intensity reduction rate of 7.2% during 2013. Three other countries – the UK, Italy and China – achieved reductions of between 4% and 5%. France, the US, India, Germany and Brazil all increased their carbon intensity, meanwhile. On average, the seven major emerging market economies (represented by the E7) are reducing their annual carbon emissions by 1.7% per dollar of GDP. This compares to a mere 0.2% by the world’s seven largest economies (G7).
The index and associated report, produced by financial services firm PricewaterhouseCoopers, finds that renewable electricity production (excluding hydro) in the G20...