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The ongoing COVID-19 pandemic has brought our globaleconomy to a standstill, with fears of the worst recession since 1929. Economies around the world are reeling from the cascading shocks wrought upon them since the beginning of March. (This post was published earlier this year on Medium.
Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5 For example, the indicative financed emissions from the UK financial sector in 2019 were found to be 1.8
“Natural gas will remain an important fuel source to meet total energy demand for the time being, decreasing by only 13% in 2030 (from 2015 levels), until hydrogen, e-gas and biogas are ramped up,” the Allianz report noted. “As Increasing gas infrastructure must be avoided to avert dangerous climate impacts and strandedassets.”.
The report tracks developments across sectors covering 90% of global emissions in 2015-2021. Fourteen governments declared support for Just Transition through green growth, decent work and economic prosperity as economies move towards net-zero emissions at COP26. Coal emits around 980 grams of CO2 per kilowatt hour (kWh), 2.5
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