Statkraft releases latest annual Low Emissions Scenario report

For the sixth consecutive year, Statkraft have released its Low Emissions Scenario - an analysis of the energy world towards 2050.

The Scenario covers the energy transition necessary to move towards a low emissions world.

It finds that renewable energy and electrification are the main solutions to decarbonisation, with green hydrogen playing a key role in industry and heavy transport.

Currently, the Earth’s temperature is 1.1 degrees warmer than it was during pre-industrial times, and we are already seeing the effects of climate change in the form of extreme heat, wildfires, and violent floods. The UN Climate Panel’s sixth report, released in August 2021, made us even more acutely aware of how a temperature increase of two, three and four degrees will have dramatic consequences for our planet. Two degrees is simply too much - we need to limit global warming to a level as far down towards 1.5 degrees as possible.

As we face the challenge ahead, it is also important to look back and celebrate achievements:

  • Global sales of battery electric cars increased by 40%, even though total car sales fell in 2020.
  • 2020 had a record-high buildout of solar and wind power.
  • Green investments increased in 2020 despite the economic downturn caused by the pandemic. Investment in renewable power was (7%) higher in 2020 than in 2019.

We must work together to make strides to meet our climate targets which include making solar power the world’s largest power source as early as 2035, ensuring green hydrogen plays a key role in industry and heavy transport sector and using renewable energy and electrification as a main solution for decarbonisation.

Read the full report on the Statkraft website.

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