No Match Found
PwC’s Net Zero Economy Index found that even with the forced lockdowns, South Africa’s energy intensity for 2020 increased for the third consecutive year.
In 2020 the worldwide carbon intensity of the global economy saw a decrease of 2.5%. This was largely driven by the hard lockdowns in countries across the globe in response to the COVID-19 pandemic. The global decrease of 2.5% however, still falls far short of the 12.9% annual global decrease that is needed to meet the Paris Agreements goal of limiting warming to 1.5℃.
While the global average intensity saw a decrease, within the G20 there were four countries (Argentina, India, Saudi Aribia and South Africa) who’s energy-related intensity increased even with the hard lockdowns.
This shows there is still a long way to go to successfully delink economic growth from energy-related emissions. All eyes will be on COP26 taking place in November to see what further action will be taken from governments as well as the private sector to achieve the goal of the Paris Agreement.