Global Decarbonisation By 2050
The number of countries announcing pledges to achieve net zero emissions over the coming decades continues to grow. But the pledges by governments to date — even if fully achieved — fall well short of what is required to bring global energy-related carbon dioxide emissions to net zero by 2050. This special report is the world’s first comprehensive study of how to transition to a net zero energy system by 2050 while ensuring stable and affordable energy supplies, providing universal energy access, and enabling robust economic growth. It sets out a cost-effective and economically productive pathway, resulting in a clean, dynamic and resilient energy economy dominated by renewables like solar and wind instead of fossil fuels.
What is decarbonisation?
Decarbonisation (also referred to as decarbonisation across the Atlantic) refers to the process of reducing carbon dioxide (CO2) emissions resulting from human activity in the atmosphere. The current (and optimistic) objective of decarbonisation is to eventually, eliminate our carbon dioxide emissions. To achieve deep decarbonisation, we need to rethink how we produce and consume energy and operate a radical switch to renewables and low carbon energy sources.
Why there is a need of Global Decarbonisation?
According to the World Economic Forum, full decarbonisation of our energy systems is the only solution to climate stabilisation. Now, we are already lagging behind targets set in 2015, and our current policies would, in the best-case scenario, lead to an increase of 2.1 °C and, in the worst-case scenario, to a rise of 3.9 °C.
How do we get there? What is needed for the transition?
Of course, we cannot drop the old ways of producing and consuming energy overnight. But the emergency of the situation mandates that we drastically accelerate our zero carbon emission transition.
The road to decarbonisation implies that industrials revamp the way they produce, that we — individuals — review what we purchase and put in our plates, and — and it’s actually something we at Virta can help with — upgrade the way we produce, store and distribute electricity.
EVs are batteries on wheels
It turns out that electric vehicles are batteries on wheels. When enough vehicles are plugged in, we can use them to power and stabilise the grid.
With the use of Smart EV charging infrastructures and new technologies like V2G (vehicle-to-grid), we can charge or discharge EV batteries connected to the grid based on momentary needs and, therefore, eliminate all shortage risks.
Will there be enough electric vehicles to support our energy system? Yes. By 2030, that EVs will account for 32% of the total market share for new car sales worldwide.
In Europe alone, we expect EV sales to account for over 40 % of new car sales by 2030.
This optimistic forecast finds its roots in everything the European Union currently does to meet and exceed the 2015 Paris Agreements. On July 14th, 2021, the EU released new milestones and objectives for 2030 and beyond as part of the Green Deal.
How do we achieve decarbonisation?
Decarbonisation can be achieved by decreasing the amount of CO2 emitted across industries. Decarbonisation will require fundamentally different energy system, by using alternative energy sources based on green electricity and green molecules (such as biofuels and hydrogen).
How to accelerate decarbonisation in specific industries?
To realise the ambition, progress needs to be made particularly in the harder-to-abate sectors. These sectors share common characteristics, such as long asset lifespans, high energy dependency, and complexity of electrification. Together they account for around 32% of global CO2 emissions.
As part of our Future of Energy initiative, Deloitte collaborated with Shell to develop a series of reports that address the decarbonisation challenge of these harder-to-abate sectors. “All hands on deck, an industry perspective”, “Getting into gear”, and “Cleared for Take-off” focus on the shipping, road freight, and aviation sector respectively and highlight practical solutions to help accelerate decarbonisation in those sectors.
These deep dives explore how to accelerate decarbonisation in various sectors, the challenges to zero emissions and what these sectors can do to achieve the climate ambitions.
What did we learnt?
Then what should be learning or takeaway? “Save what you have, Treat what you lost”. This quote clearly focuses our attention on how we don’t just focus our attention on just planning but also the actions required in-order to make things work in the real scenario. As it is wisely said by James Clear, our success is 20% planning and 80% action. Time passing clearly says to us that the blame game should now get over and each one of us should be rightfully made aware about the depleting conditions. As a good foundation kept now will bear sweeter fruits in the future. For the adults it should be mandatory to save on fuels and use pooling or public transport and use less of plastic and related products. Lets say ask the government to make rule wherein the lesser emission and electric consumption the individual has and lesser is the plastic or related product is used.
