Emissions from energy sector likely to rebound from COVID-19, Capgemini warns
(EurActiv, 5 Nov 2020) Emissions from the global energy sector will be 7-8% lower in 2020 than in 2019, but most nations are still failing to align their energy generation and consumption patterns with long-term climate targets, Capgemini is warning. EURACTIV’s media partner, edie.net, reports.
The firm’s World Energy Markets Observatory (WEMO) report for 2020 was published on Tuesday (3 November), providing a broad view of trends in generation, consumption and energy-related technologies. The report covers a 12-month period and takes the impact of the COVID-19 pandemic into account.
According to the report, emissions from the global energy sector will be 7-8% lower in 2020 than in 2019, largely because of reduced oil and gas demand in sectors like transport and heavy industry. It notes that this decrease is unprecedented – emissions from the sector fell just 0.4% year-on-year in 2019 – but unlikely to last. Capgemini believes emissions will “likely rise again” as mobility restrictions ease, with nations largely failing to decouple GDP growth from energy-related emissions.
The report provides a string of policy recommendations for markets with net-zero targets, including the UK and the EU, the latter of which has applied a “do no harm” principle to its €750bn recovery fund and ring-fenced 30% for ‘climate-friendly’ activities.