BAKU, Azerbaijan, March 9
By Leman Zeynalova – Trend:
The pandemic continued to impact oil use for transport in 2021, with demand more than 6 million barrels per day below 2019 levels, and emissions 600 Mt lower, Trend reports with reference to the International Energy Agency (IEA).
The agency says in its latest report that CO2 emissions related to international aviation in 2021 stood at only 60% (370 Mt) of their pre-pandemic levels.
“Continued lockdowns and other Covid-19 transmission reduction measures in many major economies through the course of the year also stymied the recovery of road transport activity. A return to pre-pandemic levels of transport activity would have added another 600 Mt to global CO2 emissions in 2021. That would have brought emissions from oil in line with 2019 levels. The resultant 7.8% increase in total CO2 emissions would have been the fastest rate of growth since the 1950s,” said the IEA.
The report says that with carbon-intensive growth reminiscent of 2010, the global economic recovery from the Covid-19 crisis has not been the sustainable recovery that IEA Executive Director Fatih Birol called for at the onset of the pandemic in 2020.
“Nonetheless, certain advanced economies have emphasised decarbonisation measures in their economic recovery. The IEA’s Sustainable Recovery Tracker has shown that as of October 2021, USD 470 bilion had been earmarked for sustainable measures within recovery packages through 2030. Looking at the crucial 2021-2023 period, measures to date could mobilise around USD 400 billion a year in clean energy and sustainable recovery investment. However, this would still only represent 40 percent of the investment needed in the IEA’s Sustainable Recovery Plan, which is aligned with a pathway towards reaching net zero emissions by 2050 globally,” the report reads.
Clean energy provisions in the recovery packages of several major economies have contributed somewhat to mitigating the near-term rebound in emissions, largely where low-carbon programs were already in place and could channel the additional support quickly. However, many recovery plans have added new programs, which are set to have greater mitigation impacts in the coming years, according to the IEA.
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