PracticeAccounting FirmsPwC: Emission reduction target not enough

PwC: Emission reduction target not enough

The world could be a year closer to a climate crisis if more severe carbon cuts are not made said Richard Gledhill, PwC's head of climate change and carbon market services

PricewaterhouseCoopers is claiming UK government and EU target’s for the
reduction of carbon emission by 2020 does not go far enough

The firm analysed environmental data and found the European and UK target to
reduce greenhouse gas emissions (GHG) by 20% by 2020 will mean an overshoot
equivalent to a year’s worth of carbon.

A reduction of 20% will mean the EU will have used one year’s worth of carbon
more than it should have with a 30% reduction meaning an overshoot of six months
worth of GHG’s than it should have.

Richard Gledhill, global leader of climate change and carbon market services
at PwC, said: “The basic pledges of key economies would leave us some
considerable way short of the low carbon pathway.”

He added an over spend of carbon emissions could end up putting the world a
year closer to an “unpredictable climate crisis.”

“To make sure the sum of the parts adds up to the whole, we need an effective
monitoring, reporting and verification regime,” he said.

He added: “Getting to a political deal next Friday is arguably the easy bit.
The really hard work starts in the New Year, when we have to convert the
political deal into a legal agreement and start delivering on the pledges.”

Further reading:

Calls
for global standard on carbon reporting grow

Carbon
count

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