Renewables, green hydrogen and CCUS key to Paris target

Published onOctober 9, 2020

A new study released by research firm Wood Mackenzie states that achieving goals set under the Paris Climate change agreement remains a herculean task. In its annual Energy Transition Outlook, the research firm says the world must combine coronavirus recovery efforts with massive investments in renewable energy and clean infrastructure if it is to limit global warming to 2 degrees or lower. Wood Mackenzie says renewables, green hydrogen and carbon capture, use and storage are key technologies in fighting climate change. The study states that the world needs to be much more efficient, substantially more electrified and make circular economy a priority to be able to achieve the targets. At the present rate of progress, Wood Mackenzie’s base case indicates the world is on a 2.8C-3C pathway – not a 2C or lower – warming trajectory. An obstacle blocking the path to a 2-degree world is the emissions-intensive capital stock already embedded in our energy systems.