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Achieving the Paris Agreement goal of limiting warming to 1.5°C will now require a rate of global decarbonisation of 11,7% every year, five times faster than in 2019, according to PwC Net Zero Economy Index.
âCarbon emissions fell by 25% in some countries in the first half of the year, as a result of the reduction in economic activity, especially in transportation. The data is showing a fast rebound in emissions as economies and societies begin to open up and 2020 is still set to be another record-breaking year for global temperature increases. At the same time, the emergence of the COVID crisis has put on the second plan the concern for climate change, but achieving the emissions reductions required to limit global warming will remain on the governments agenda, companies and polluting sectors having more need to reset and invest for the long-termâ, said Dinu BumbÄcea, Partner and Advisory Leader.