Chances of limiting global warming to below 2C ‘almost zero’; companies make large-scale pledges on plastic waste; resolving the disconnect between corporate and consumer views of transparency
IT HASN'T been a good few weeks for the environment. On the back of last month’s alarming IPCC report came news from environment group WWF that 60% of global wildlife has been lost since 1970. Meanwhile, Brazil elected as president climate sceptic Jair Bolsonaro, who had threatened to pull out of the Paris Agreement – though this was later retracted – and open up the Amazon to agri-industrial expansion.
All of this makes yet more depressing statistics from PwC that bit harder to swallow. According to the global professional services firm, the chances of limiting global warming to below two degrees are now “almost zero”. The carbon budget for 1.5 degrees is “even smaller” and the reduction trajectory “even steeper” than 12 months ago, its Low Carbon Economy 2018 report concludes. Worryingly, it reveals that coal consumption grew globally by 1% last year, with rates in some large economies such as Turkey (12.7%), Indonesia (7.4%) and India (5%) accelerating far faster.
The last 12 months are not devoid of hope. Renewables grew by 17% worldwide. Decarbonisation is continuing, with the fall in carbon intensity levels consistent with previous years at 2.6% (although this is lower than the...