Thread by @Peters_Glen

Another day, another bleak scenario...

@WoodMackenzie emerged with a conservative outlook:
* Current pathway more consistent with 3°C
* A carbon constrained pathway leading to 2.5°C could conceivably happen
* Very low confidence that 2°C achievable

1/

eto.think.woodmac.com

"There’s resistance to achieving the aspirational targets to reduce global carbon emissions set in Paris...The energy mix is not changing nearly as quickly as the world needs it to...there is still no carbon price in many major consuming countries or market segments."

2/

"the technologies essential for decarbonisation remain nascent; policy & regulation lack global coordination; & investment in the production of hydrocarbons & in the sectors that consume them persists at a high rate because money can be made."

3/

"While some of the technologies required for a 2°C future are economic, proven & scalable, many others are not. And the huge challenges that remain in sectors beyond power and road transport are often downplayed."

4/

@WoodMackenzie argues "It’s easy to produce a bullish forecast on the pace of the energy transition when you use a top-down approach that doesn’t model at the asset level or is solely focused on renewables."

I will leave that as a hanging question...

5/5