This week we introduce the need for new plan for reducing global GHG emissions, since the current one, that envisions a fast switch from fossil fuels to renewables is proving to be unrealistic. The recently published International Energy Agency World Energy Investment 2019 report illustrates why the current plan is not working; investment into renewables has plateaued at best; energy efficiency is treading water, and world carbon emissions grew by 2.0% last year, the fastest growth in seven years. Instead, we propose the need for a more realistic plan that reduces GHG emissions on more dimensions, including a transition to progressively cleaner hydrocarbons, improvements in efficiency and growth in renewables.
As referenced in the podcast, here is a link to the ARC commentary Mind the Gap.
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