• 07-NOV-2011

G20 Fuel a Dirty Global Recovery as Carbon Emissions Exceed Economic Growth, According to PwC New Analysis

PricewaterhouseCoopers HQ, London
Global emissions in the G20 are increasing faster than economic growth, reversing a slow, but gradual, reduction in carbon emissions intensity seen since 2000. The findings, from new analysis in the PwC Low Carbon Economy Index released on November 7, show that for the first time since 2000, no improvement has been made in reducing the carbon intensity (which reflects the fuel mix, energy efficiency and the balance of industry and services) of the G20, despite modest economic recovery globally. The results call into question the likelihood of global decarbonisation ever happening rapidly enough to limit global warming to 2 degrees Celsius. With three weeks to the UN Climate Summit in Durban, the report also highlights the scale of the low carbon financing challenge yet to be resolved. During the recession, many countries saw carbon emissions fall quicker than GDP, because manufacturing output fell. But that trend was reversed during 2010, when global GDP growth was 5.1%, but emissions growth was higher at 5.8%. Available video includes general views.