Emissions climbing to pre-pandemic levels in G20 countries

Source: This post is based on the article “Emissions climbing to pre-pandemic levels in G20 countries” published in TOI on 14th October 2021.

What is the News?

The Climate Transparency Report 2021 has been released.

What is the Climate Transparency Report?

The Climate Transparency Report is the world’s most comprehensive annual review of G20 countries’ climate action and their transition to a net-zero emissions economy.

The report has been developed by experts from 16 partner organisations from the majority of the G20 countries.

What are the key findings of the Climate Transparency report?

G20 Contribution in Global Emissions

The G20 group is responsible for around 75% of global emissions.

However, energy-related CO2 emissions have decreased by 6% across the G20 due to the Covid-19 pandemic. But the report has projected that the CO2 will go up by 4% across the G20 group in 2021.

Growth of Renewable Sector

The report points to some positive developments, including the growth of solar and wind energy in richer countries, with record amounts of new capacity installed across the G20 in 2020.

Renewables now supply around 12% of power, compared to 10% in 2020.

Further, the report also notes that apart from the UK, G20 members have neither short-term nor long-term strategies for achieving 100% renewables in the power sector by 2050.

Coal in Demand

Consumption of Coal is projected to rise by nearly 5% in 2021 while consumption of gas has increased by 12% from 2015-2020. 

The increase in coal consumption will be driven primarily by China (accounting for 61% of the growth), the US (18%) and India (17%). China is currently the largest global producer and consumer of coal.

Net-zero targets

By August 2021, 14 G20 members had announced net-zero targets by mid-century, covering 61% of global GHG emissions. If fully implemented, these targets would go a long way to limiting global temperature rise to 1.5 °C. 

Electric Vehicles

Across the G20, the current average market share of electric vehicles (EVs) in new car sales remains low at 3.2% (excluding the EU), with Germany, France, and the UK having the highest shares of EVs.