AVN 67.44 Increased By ▲ 0.22 (0.33%)
BOP 9.94 No Change ▼ 0.00 (0%)
CHCC 130.51 Increased By ▲ 1.01 (0.78%)
DCL 11.30 Increased By ▲ 0.09 (0.8%)
DGKC 111.52 Increased By ▲ 0.20 (0.18%)
EFERT 60.90 Increased By ▲ 0.16 (0.26%)
EPCL 43.85 Increased By ▲ 0.35 (0.8%)
FCCL 21.58 Decreased By ▼ -0.02 (-0.09%)
FFL 18.68 Increased By ▲ 0.03 (0.16%)
HASCOL 22.29 Increased By ▲ 0.50 (2.29%)
HBL 134.40 Increased By ▲ 0.65 (0.49%)
HUBC 84.50 Increased By ▲ 0.32 (0.38%)
HUMNL 8.64 Increased By ▲ 0.11 (1.29%)
JSCL 29.17 Increased By ▲ 0.44 (1.53%)
KAPCO 28.48 Increased By ▲ 0.28 (0.99%)
KEL 4.25 No Change ▼ 0.00 (0%)
LOTCHEM 13.46 Increased By ▲ 0.07 (0.52%)
MLCF 39.74 Increased By ▲ 0.21 (0.53%)
OGDC 110.09 Increased By ▲ 0.28 (0.25%)
PAEL 38.01 Increased By ▲ 0.14 (0.37%)
PIBTL 14.20 Increased By ▲ 0.01 (0.07%)
PIOC 96.32 Increased By ▲ 0.22 (0.23%)
POWER 9.53 Increased By ▲ 0.05 (0.53%)
PPL 98.89 Increased By ▲ 0.21 (0.21%)
PSO 206.50 Increased By ▲ 0.73 (0.35%)
SNGP 64.15 No Change ▼ 0.00 (0%)
STPL 13.30 No Change ▼ 0.00 (0%)
TRG 57.66 Decreased By ▼ -0.02 (-0.03%)
UNITY 17.99 Increased By ▲ 0.21 (1.18%)
WTL 1.29 No Change ▼ 0.00 (0%)
BR100 4,439 Increased By ▲ 19.42 (0.44%)
BR30 22,677 Increased By ▲ 64.82 (0.29%)
KSE100 42,505 Increased By ▲ 170 (0.4%)
KSE30 18,046 Increased By ▲ 102.45 (0.57%)
COVID-19 TOTAL DAILY
CASES 288,047 747
DEATHS 6,162 9

PARIS: All new electricity supply growth worldwide can now come from zero-carbon sources, according to a plan released by businesses and environmental advocates Wednesday that charts the path to a net-zero world by 2050. In one of the most comprehensive proposals to date on how the global economy can reduce its carbon emissions in line with the Paris climate goals, the Energy Transitions Commission (ETC) said clean power provision must be ramped up at a pace nearly six times higher than currently. It said there should be "no permanent reliance" on negative emissions technologies to achieve net-zero, calling instead for increased energy efficiency and removing fossil fuel subsidies. "We have witnessed great progress in renewables and batteries that make us optimistic about the prospects for clean electrification," Sandrine Dixson-Decleve, an energy policy expert and former chief partnership officer of UN Sustainable Development, told AFP.

She said achieving the Paris goals would require "the right policy and investment" as well as consumer pressure on industry to slash pollution and pursue greener growth paths.

This would include increasing carbon prices and working with financiers to channel more funding towards renewables.

The 2015 landmark climate deal enjoins nations to limit global temperature rises to "well below" two degrees Celsius (3.6 Fahrenheit) through a rapid and sweeping drawdown of greenhouse gas emissions. It also aims for a safer warming cap of 1.5C.

With just 1C of warming so far, Earth is already seeing a drastic increase in the scale and frequence of droughts, wildfires and storm surges made worse by rising sea levels.

Yet in the years since the Paris accord was struck emissions have risen steadily. The UN now says that for 1.5C to remain in play the world must slash its carbon pollution 7.6 percent every year through 2030. The ETC is a global coalition of business leaders and environmental advocates, including heads of energy producers and financial institutions.

Its analysis found it was "technically and economically possible" to achieve a carbon-free economy by 2050 for less than the cost of 0.5 percent of global GDP.

Comments are closed on this story.