The Pivotal Decade
The landmark IPCC 1.5°C Special Report in 2018 stated that to avoid the worst impacts of climate change, global carbon emissions must be halved by 2030, and reduced to net zero by 2050. At present, the reverse is happening. Between 2009 and 2019, average global energy-related carbon emissions rose by 1.5% per year.
It is in that context that this year’s report, the Net Zero Economy Index replaces the Low Carbon Economy Index. It is a recognition of the ultimate goal business and society needs to achieve, and the growing focus and momentum behind commitments from business, governments, and investors to achieve net zero activities and operations. While our analysis focuses on energy-related CO2 emissions, we will broaden that coverage when feasible.
There are encouraging signs that the reality of the scale of transformation required is taking hold across both public and private sectors. Over the past 18 months there has been a surge of net zero pledges announced by countries, companies, investors, cities and regions. The gap between ambition and action, however, remains substantial.
While the underpinning analysis remains the same, the PwC Net Zero Economy Index brings into focus the need for scale, collaboration, investment and innovation to transform commitments into action.
Click here to access the global report.
“South Africa's Low Emission Development Strategy 2050 published in February 2020, presents a vision of South Africa following a low-carbon growth trajectory, making a fair contribution to the global effort to limit the average temperature increase all while ensuring a just transition and building of the country's resilience to climate change.”
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