|A new report by PricewaterhouseCoopers finds humanity has its foot on the accelerator as we head toward a cliff. The only hope is very rapid deployment of carbon-free technology starting ASAP.
The title of the PWC report is sobering, 'Too late for two degrees?' So is its main conclusion:
Our Low Carbon Economy Index evaluates the rate of decarbonisation of the global economy that is needed to limit warming to 2oC. This report shows that global carbon intensity decreased between 2000 and 2011 by around 0.8% a year. In 2011, carbon intensity decreased by 0.7%. The global economy now needs to cut carbon intensity by 5.1% every year from now to 2050. Keeping to the 2oC carbon budget will require sustained and unprecedented reductions over four decades.
Governments' ambitions to limit warming to 2oC appear highly unrealistic.