Achieving net zero global carbon emissions by 2050 will undoubtedly be a vast challenge.
🌏🏭
Yet there's also a bit of a danger that we assume it's unachievable given our current economic model or rates of population growth.
A brief thread...🧵
...Pessimism is perhaps natural when you look at the global trajectory of emissions.
Despite the landmark summits and the big pledges, global emissions have continued to rise...
...and so has the size of the global population...
...yet emissions have *not* risen as fast as overall global economic activity...
...which is another way of saying that the carbon intensity of global economic growth has been falling...
...As for emissions per head of global population, they have risen as the likes of China and India have industrialised - but they've also stabilised in recent years...
...and in the US - which has one of the highest levels of emissions per capita of any country - they have been falling...
...We need to keep those lines falling and indeed to speed it up so they hit zero by mid century, if not before.
It will be a challenge - but be wary of those who proclaim it's impossible.
We have already demonstrated progress & we have the potential to produce much more.
...More reasons to be positive in this report by Neil Shearing of @CapEconUK
"Tackling climate change doesn’t mean sacrificing economic growth" 👇
capitaleconomics.com/blog/tackling-…
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