More than three-quarters of the effort to reduce carbon emissions to net-zero by 2050 will have to be made by the power sector and through faster adoption of wind and solar options, according to the New Energy Outlook 2021 report published last week by research consultancy BloombergNEF.
Global energy-related emissions must drop to 30% below 2019 levels by 2030, and to 75% below by 2040, to be on track to reach the Paris Climate Agreement's net-zero goal by mid-century, the report said.
The power sector must make the greatest progress over the next decade, reducing emissions by 57% from 2019 levels by 2030, and then 89% by 2040.
The report outlined three distinct scenarios -"green" prioritizing clean electricity, "red" with extensive use of nuclear power, and...