World needs to double efforts to limit warming to 1.5 ºC by 2050 – WoodMac

The world is facing its biggest challenge yet in its journey towards net-zero emissions and needs to double-down on plans to achieve the goal of limiting the rise in global temperatures to within 1.5 °C above preindustrial levels by 2050, natural resources market research company Wood Mackenzie (WoodMac) notes in its ‘Accelerated Energy Transition 1.5-Degree scenario’ report. “Record commodity prices and recent geopolitical changes have highlighted the challenges in navigating the energy transition. To remain on course, those most exposed to global commodity markets need to double-down on plans to decarbonise through electrification and other emerging, net-zero enabling technologies.