The analysis covers all major emitters
* China the only major nation with grow (+0.5%), with end-of-year monthly emissions exciting 2019 levels
* USA: Down 9.4%
* EU27+UK: Down 7.5%
* India: Down 8.1%
The COVID declines build on top of preexisting trends.
2/
Transport was the major driver of change:
* Ground transport was 37% of the decline
* International transport was 28%, despite representing 2-3% of global emissions
The power sector was 18% of the decline, but monthly emissions are already back to 2019 levels (globally).
3/
The estimates are consistent with other recent estimates:
3. Comparing 2011-2015 with 2016-2019 (global stocktake), CO₂ emissions have
* Declined in 64 countries: -0.16GtCO₂/yr
* Increased in the remainder: 0.37GtCO₂/yr
* Net increase: 0.21GtCO₂/yr
But emission reductions need to ramp up to 1-2GtCO₂/yr 𝐞𝐯𝐞𝐫𝐲 𝐲𝐞𝐚𝐫...
1. The @IEA is out with estimates of fossil energy CO₂ emissions for 2020:
* Primary energy down ~4%
* CO₂ emissions down 5.9% or 2GtCO₂
* Coal down 4%
* Oil down 8.6%
2. Our latest estimate (from yesterday) is 4.9% down. The main difference is in oil. Our method may not have picked up the drop in international bunkers. Time will tell...
"The reason we’re net zero is that we have this enormous renewables business ... all the avoided emissions that come with that" compensate for emissions in other investments.
Houston, we have a problem... This from climate finance champion Carney.
2. "Most large asset managers have a renewable energy fund. Simply having one does not make you net zero. ... Such commitments are not credible & represent greenwashing" @bencaldecott
3. "It’s virtually impossible for a company to be a net-zero company now" @FarsanAlexander
"It won’t matter how many solar panels one installs if we don’t reduce actual CO₂ emissions." @UlfErlandsson
2. There are a range of scenarios spanning the high-end (>5°C in 2100) to the low-end (<1.5°C in 2100). This shows the Shared Socioeconomic Pathways (one of many scenario intercomparisons).
Out of these scenarios, which ones should be used for analysis?
Here is a Kaya based projection we did 7 years ago. If a country continues along historical trends, the method is ok. If the country changes trends, the method is useless. See China. We were way out.
Though, for the EU, we will much better than the other study..