We could see an even bigger push for green energy.
Sure, countries all over the world have pledged to cut emissions. The U.S. just pledged to reduce emissions by up to 52% over the next several years. Europe wants to cut CO2 emissions by up to 55% by 2030. China says it’ll stop releasing CO2 in the next 40 years.
However, it may not be enough.
In fact, according to a new report from The Climate Action Tracker, as noted by Yahoo Finance, “The recent pledges made by world governments to limit carbon emissions will not be sufficient to meet the goal of keeping global temperatures from rising above 1.5 degrees Celsius, a new report concluded. Instead, those non-binding commitments will result in a rise in the average global temperature to a potentially catastrophic 2.4 degrees Celsius.”
To help, says the International Energy Agency (IEA), we have to stop using gas-powered vehicles in the next 14 years, abandoning coal mines, ending oil exploration, and transforming energy systems.
According to the EIA’s Net Zero by 2050 report, some of the top changes needed, as also reported by Yahoo Finance include:
- Increasing the use of renewable sources of energy from 29 percent in 2020 to 90 percent in 2050
- Halting construction of all new coal plants this year, unless they are built with carbon-capture technology
- Implementing a ban in 2025 on the sale of new oil and gas furnaces to heat buildings
- Phasing out the sale of automobiles that use gasoline by 2035
- Conversion of vehicle fleets to either electric or hydrogen fuel sources by 2050
- Shifting power plants away from carbon emissions to renewable sources of energy by 2035
- Closing all coal-fired power plants not fitted with carbon-capture technology by 2040
- Transitioning half of all plane-travel energy sources to hydrogen or biofuels by 2040
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