2020 required the world to deal with COVID-19. The drop in economic activity and changes in behaviors led to historic, record declines in global emissions, caused by losses in oil and to a lesser extent, coal and natural gas (with renewables faring much better).
We do expect an economic rebound, and the long-term impact of behavioral changes, lost economic growth, and green stimulus efforts will not be nearly enough to meet the 2ºC trajectory.
The first half of 2020 saw countries hesitant to increase their climate ambitions, while the second half saw an array of new long-term net-zero targets from countries like Japan, Korea, China and Canada, all joining prior European ambitions. With growing policy support, hydrogen has (re-)emerged on the stage as a leading clean energy solution.
• Price Assessments: Power generation curtailment indices, recycled plastics, low sulfur fuel oil, renewable biofuels / sustainable aviation fuels, voluntary carbon
• Insights: Future Energy Outlooks rebrand, CORSIA Aviation Supply/Demand
