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Global Energy and Climate Outlook 2021: Advancing towards climate neutrality

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Abstract
This edition of the Global Energy and Climate Outlook (GECO 2021) takes stock of recent updates in nationally determined contributions (NDCs) and long-term net zero emission targets (LTS) announced leading up to and during the Conference of the Parties (COP 26) in November 2021. GECO 2021 finds that the NDC and LTS pledges stop global emissions growth over the next decades and lead to declining emissions until 2050. While delivering on these aims results in an increase of global mean temperature of 1.8°C (current policies in excess of 3°C), substantial further actions are needed to limit global warming to the Paris Agreement targets, to well below 2°C and pursue efforts to 1.5°C above preindustrial levels. To achieve this objective, net-zero greenhouse gas emissions has to be reached around the 2070s at the global level. Nevertheless, the announced LTS pledges could be a major step towards filling this gap, since an NDC-only scenario sees average temperature increases of 2.6°C at the end of the century.In this report, we focus on the transition of G20 countries, which accounted for nearly 75% of global Greenhouse Gas (GHG) emissions. For each of them, we assess emissions under three different scenarios: current policies, announced domestic targets (NDC-LTS) and under two 1.5°C-compatible pathways. We analyse decarbonisation drivers and transformation metrics within each scenario, highlighting the policy options to bring emissions in line with ambitious climate targets.

Suggested Citation

  • KERAMIDAS Kimon & FOSSE Florian & DIAZ VAZQUEZ Ana & DOWLING Paul & GARAFFA Rafael & DESPRÉS Jacques & RUSS Hans Peter & SCHADE Burkhard & SCHMITZ Andreas & SORIA RAMIREZ Antonio & VANDYCK Toon & WEIT, 2021. "Global Energy and Climate Outlook 2021: Advancing towards climate neutrality," JRC Research Reports JRC126767, Joint Research Centre.
    • Handle: RePEc:ipt:iptwpa:jrc126767
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    Cited by:

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    3. Antimiani, Alessandro & Costantini, Valeria & Paglialunga, Elena, 2023. "Fossil fuels subsidy removal and the EU carbon neutrality policy," Energy Economics, Elsevier, vol. 119(C).
    4. Fattahi, Amirhossein & Reynès, Frédéric & van der Zwaan, Bob & Sijm, Jos & Faaij, André, 2023. "Soft-linking a national computable general equilibrium model (ThreeME) with a detailed energy system model (IESA-Opt)," Energy Economics, Elsevier, vol. 123(C).

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    More about this item

    Keywords

    Global Energy system; Climate Change; Green House Gas emissions; Nationally determined contributions (NDCs); Long term strategies (LTS); G20;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General

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