Offshore wind giant Orsted has urged world leaders to accelerate the transition to green energy in a new white paper.
The ‘Taking action to stay within 1.5°C – Transforming the global energy system to combat climate change’ document calls for a greater emphasis on reducing global carbon emissions.
The white paper has been released ahead of the UN Climate Change Conference in Madrid, Spain, on 2 December.
Chief executive Henrik Poulsen (pictured) said: “To halve emissions by 2030 and stay within 1.5°C of global warming, the world must accelerate the deployment of green energy and the retirement of coal-fired power plants.
“At the same time, the world must intensify green electrification of transport, buildings and industry and keep the global energy consumption in check by boosting energy efficiency.”
He added: “2020 must become the year when world leaders finally take the necessary action to reduce global carbon emissions in line with what science says is necessary to stop climate change at 1.5°C. We have the solutions to do it.”
During the next year towards the 2020 UN Climate Conference in Glasgow, countries will announce their plans for how to reduce emissions.
In Glasgow, world leaders will meet to review the announced commitments in light of what is required by science to limit global warming to 2°C and preferably 1.5°C as agreed in the Paris Agreement in 2015.
Almost 75% of global emissions come from the use of energy, mainly due to the burning of fossil fuels for power, heat, cooling, transportation, and industrial processes.
“The solutions we need to transform the world’s energy system are at our disposal. Transforming from fossil fuels to green energy is no longer a question of technical feasibility or that renewable energy is too expensive compared to fossil fuels. It’s about having the ambition and will to make the necessary decisions sooner rather than later,” said Poulsen.
He urged policymakers, businesses and investors to “work together” to reduce emissions fast enough.
“When governments set ambitious targets and enact clear policies, the private sector can and will further accelerate the build-out of green energy. And this is urgently needed to speed up the retirement of old coal-fired power plants and to put an end to the construction of new coal-fired capacity,” he said.
According to the UN Climate Panel, more than 1.5°C of global warming could lead to irreversible tipping points in nature and trigger “runaway” climate change. The world has already warmed with 1°C, and to stay within 1.5°C of global warming, the world now needs to reduce the projected global carbon emissions by 50% towards 2030.