Posted on: 16/02/2016
Carbon dioxide emissions will continue to rise despite the huge growth in the use of renewable energy, according to BP’s annual Energy Outlook report.
The oil giant predicted that emissions will continue to increase by 0.9% each year over the next 20 years.
BP pointed out that the rate of growth is slower than the 2.1% annual rise posted each year over the past 20 years.
Analysts said the slower growth was due to “faster improvements in energy efficiency and a reduction in the carbon intensity of energy”.
Further policy action needed
BP said: “The world is starting to make the transition to a lower-carbon energy system, and the COP21 meeting in Paris last December represented a significant step on this journey.
“But carbon emissions are still projected to be growing, suggesting the need for further policy action.
“A meaningful global price for carbon is likely to be the most efficient mechanism through which to achieve an even faster transition to a low carbon world.”