2021 Could See Greater Progress On Decarbonization [Video]

2021 Could See Greater Progress On Decarbonization [Video]

Share to Linkedin Lost amid the news of the ongoing pandemic last year were some positive developments in decarbonizing the world's economy. Reduced economic activity during prolonged lockdowns lowered carbon emissions significant, and a number of governments and major companies announced ambitious net-zero goals of 2050 or even sooner. This year, momentum is expected to actually increase in the run-up to COP 26, the U. N.'s climate conference in Glasgow in November 2021. Wood Mackenzie, the U. K.-based energy research and consultancy firm, predicts that more countries will make net-zero commitments, with India, South Africa and Saudi Arabia among the countries expected to do so. Meanwhile, governments including the U. K., Canada and the EU, all of which had announced their mid-century target dates are expected to share detailed policies on how they'll achieve these objectives. In February, the U. S. rejoined the Paris Agreement, with the Biden administration announcing ambitious plans to decarbonize the energy sector by 2035. Investors will have an impact on decarbonization this year, starting with BlackRock, the world's largest asset manager. Companies will continue to step up as well, according to Wood Mackenzie. Progress in reducing emissions from hard-to-abate industrial sectors such as metals extraction