The correct answer would be yes, we can. A lot of countries have altered their way towards renewables and are much more careful in terms of ecology. Still, there is a long way for us to go in order to try and help our planet in its recovery.
A new report published by the Energy Transitions Commission (ETC) states that businesses must act now to halve global emissions by 2040. Furthermore, if this happens, it can also set the stage for further reductions required afterwards.
In the Better energy, greater prosperity report released on the 25th April, ETC states that it is technically and economically feasible to grow economies whilst providing reliable clean energy and achieving the Paris agreement. It also states that annual carbon emissions can be reduced if the business community works with governments and investors to accelerate clean electrification, decarbonise power generation and optimise remaining fossil fuel use.
‘We are ambitious but realistic,’ said Adair Turner from ETC. ‘Despite the scale of the challenges facing us, we firmly believe the required transition is technically and economically achievable if immediate action is taken.’
The ETC says four pathways are essential to create a global low-carbon energy system by 2040. We are talking about decarbonisation of power generation and electrification of a wider set of activities, a stronger public policy and large-scale investment and even a revolution in energy productivity improvements, which is technically feasible, but it needs more forceful policies.
You can go deeper into the subject and find out more about this in the report, which can be found here.