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Senior Partner @ Wipro | Sustainability

Europe Off-Track For 2030 Climate Targets, Despite Record Clean Energy Investment, according to BloombergNEF BNEF’s base-case ‘Economic Transition Scenario’, which describes how the energy sector evolves as a result of cost-based technology changes, assuming no additional policy interventions are made, sees the European Union and UK both widely overshooting their end-of-decade #emission goals. Energy-related #CO2 emissions breach 2030 targets for all sectors by over 200 metric million tons, or a 9% overshoot across the region. 👏 Positive news is... Record investments in 2023 boosted #cleantechnology deployments. By 2030, #wind and #solar are projected to supply 50% of total power, and coal usage will drop to 1% by 2028. EVs are expected to constitute over half of Europe's passenger vehicle fleet by 2040, increasing electricity demand by 30% by 2050. 💶 Europe has made some of the strongest progress among major economies to date in reducing energy-related emissions from their peak. But it still needs to more than double investment in #energytransition-related activities to an average of $1 trillion every year until 2030, to close the gap to its targets and be on track for net-zero emissions by 2050. 📝 Regulations and #carbonmarket reforms have improved prospects for cleaner fuels in transportation and industry, with lower-carbon marine fuels and hydrogen-based steel production becoming more prevalent. Fully decarbonizing by 2050 requires significant electrification, clean power, and carbon capture and storage (CCS), which is crucial for decarbonizing backup power and some industries. Challenges include permitting delays for wind capacity and the need for substantial investment in #CCS technology. #climateaction #climatechange #sustainability

Europe Off-Track For 2030 Climate Targets, Despite Record Clean Energy Investment, According to BloombergNEF | BloombergNEF

Europe Off-Track For 2030 Climate Targets, Despite Record Clean Energy Investment, According to BloombergNEF | BloombergNEF

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Yann Mahieu

help partners and real estate building portfolio managers for Digitalisation & Decarbonisation, manage efficiently buildings and achieving their ESG sustainable targets

1w

Yes missing the 30% energy efficiency measures to cover the gap!

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