The largest U.S. oil producer projects the world will reach 25 billion metric tons of energy related carbon dioxide (CO2) emissions in 2050, according to its energy outlook published on Monday.
That is more than twice of the 11 billion metric tons the United Nations Intergovernmental Panel on Climate Change (IPCC) say would be needed on average in its Lower 2°C scenarios.
Only two of the 55 technologies needed to reach net-zero emissions by 2050 are “on track,” Exxon said citing the IEA.
Overall, Exxon projects energy-related CO2 emissions will peak at more than 34 billion metric tons sometime this decade as economies and energy demand grow, and then decline to 25 billion metric tons in 2050.
It expects wind and solar to provide 11% of the world’s energy supply in 2050, five times today’s contribution.
Persons:
Pascal Rossignol, Exxon, Sabrina Valle, Josie Kao
Organizations:
IPC Petroleum France, REUTERS, Companies Exxon, HOUSTON, Exxon Mobil Corp, United Nations, Exxon, International Energy Agency, Thomson
Locations:
Soudron, Reims, France, U.S