Exxon sees CO2 emissions in 2050 more than twice Paris goal
Exxon Mobil sees the world failing to reduce emissions fast enough to limit global warming to 2C (3.6F) above pre-industrial norms by 2050 due to soaring economic growth, particularly in developing countries.
Energy-related carbon dioxide emissions will be 25 billion tonnes by 2050, more than twice the 11 billion tonnes needed to meet the Intergovernmental Panel on Climate Change’s 2-degree scenario, Exxon said in its annual Energy Outlook.
Oil use will “decline significantly” in personal transportation, but remain “essential” for shipping, long-haul trucking and aviation, demand for which is expected to rise, Exxon said. AP
While that represents a drop of more than 25 per cent from the 34 billion tonne peak expected this decade, it’s a long way from what’s required to meet the goals of the 2016 Paris Agreement.
By 2050, there will be 2 billion more people on the planet, an increase of 25 per cent, and rising living standards will fuel consumption for all types of energy, Exxon said.
Global gross domestic product per capita, a measure of purchasing power, is expected to rise 85 per cent by 2050, increasing demand for manufacturing, commercial transportation and other industrial activities, especially in Asia. Higher fuel efficiency will cause energy use to decline in the developed world.
“The world’s ability to reduce these emissions by 25 per cent, even as the global economy grows by more than 100 per cent, is a testament to the significant progress expected to be made,” Exxon said. “Even so, more is needed to hit the emission-reduction levels required to keep global temperature increases below 2C.”
Oil use will “decline significantly” in personal transportation, but remain “essential” for shipping, long-haul trucking
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