According to the Intergovernmental Panel on Climate Change (IPCC), global greenhouse gas (GHG) emissions must be reduced by 50 to 80 percent by 2050 to avoid dramatic consequences of global warming. Scenarios from the International Energy Agency (IEA) indicate that the potential for reduced CO2 emissions through enhanced energy efficiency and increased renewable energy production is limited. According to the IPCC, a delay in CO2 emission reductions can lead to dramatic consequences, and a new strategy for reducing CO2 emissions as soon as possible is required. CO2 Capture and Storage (CCS) is a technology with potential for large reductions in CO2-emissions within 10 to 20 years. Therefore, the strategy for reducing global CO2-emission must be a combination of:
– increased energy efficiency
– more renewable energy production, and
– a wide implementation of CCS.
By establishing stronger incentives favouring energy efficiency and renewable energy and by ensuring wide deployment of CCS, global CO2 emissions can be reduced by approximately 70 percent by 2050 compared to emissions today.
The complete paper from this study can be downloaded as a PDF file from the box above.