Global measures to reduce greenhouse gas emissions will not keep the temperature rise on Earth below two degrees Celsius by 2050. This is stated in the annual forecast of the oil company Exxon Mobil, ttelegraf.ru reported.
According to the forecast, in order to achieve the goals set by the intergovernmental panel on climate change, the world needs to reduce emissions to an average of 11 billion metric tons by 2050. However, Exxon estimates that greenhouse gas emissions will peak at 34 billion metric tons this decade.
The report says that the world's current commitment to reduce carbon dioxide emissions by more than 25% by 2050 "is evidence of the expected significant progress" and will happen even when the global economy will more than double in size. It is noted that this is a serious change, since emissions have increased by ten percent over the past decade. Exxon also argues that the world will have to continue to consume oil and natural gas to stimulate economic growth.
"Fossil fuels remain the most efficient way to produce the vast amount of energy needed to create and support the manufacturing, commercial, transportation and industrial sectors that are the driving force of the modern economy," the company said in a report.
At the same time, Exxon announced its intention to invest $17 billion in the coming years to reduce its own emissions and consumer emissions.
Alex Shishlo for Rough&Polished
