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BP: COP21 will not meet 2 degree climate target

Launching the 2016 World Energy Outlook at a conference in London, BP CEO Bob Dudley has warned world leaders that despite targets set at COP21 in Paris, the world is on course for a dangerous increase in temperature:

“The growth rate of carbon emissions over the period of the Outlook is expected to more than halve relative to the past 20 years – growing by 0.9% a year, compared to 2.1% a year. The sharp reduction in the rate of emissions growth reflects, in almost equal parts, faster improvements in energy efficiency and a reduction in the carbon intensity of energy.

“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.”

Although BP sees a switch from coal to gas helping to slow the rate of carbon emissions, Dudley points out that “The path to 2 degrees Celsius and below requires emissions to fall starting now.”  And while the energy industry has a role to play in this, it will be up to world leaders to take the necessary policy decisions.

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