21 June 2022

2021/22 Rybczynski Prize Essay

James Nixon, Oxford Economics
Felicity Hannon, Oxford Economics

“Without immediate and deep emissions reductions across all sectors, limiting global warming to 1.5°C [in line with the Paris Agreement] is beyond reach.” That was the unequivocal conclusion of the most recent report from the Intergovernmental Panel on Climate Change (IPCC 2020). Reducing emissions will require a transformation, not only in the energy sector but also in transport, buildings, and agriculture. This will involve a substantial reduction in fossil fuel use, widespread electrification, improved energy efficiency, and the use of alternative fuels (such as hydrogen).

Read Can the clean energy transition boost global growth?