Global CO2 emissions from fossil fuels and industry to fall by at least 4 pct in 2020: study

APD NEWS

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The economic impact of the COVID-19 pandemic would cause global CO2 emissions from fossil fuels and industry to fall by 4 to 11 percent in 2020, according to a new study by Germany-based Climate Action Tracker (CAT).

According to the study by the German non-profit organization CAT, global emissions could possibly continue to decline in 2021 by around 1 to 9 percent below 2019 levels.

However, the study warned that if no low carbon policies were rolled out with economic recovery packages responding to COVID-19, "emissions could rebound and even overshoot previously projected levels by 2030, despite lower economic growth."

Depending on the COVID-19 recovery scenario, the study found that investing in green energy infrastructure, including energy efficiency, had "by far the strongest effect on reducing emissions."

The study recommended to directly support zero-emission technologies and vehicles and to accelerate research and development in clean aviation technologies, but warned of rolling back emission standards, regulations and climate measures that were already introduced.

In addition, governments should refrain from supporting old industry without any plans to transit towards zero-emission and stop stimulus packages for new building without criteria for energy efficiency, according to CAT.

"A critical message for policymakers is that the rate and speed of the economic recovery from COVID-19 is secondary to the speed and degree to which investments are switched towards low and zero carbon energy, infrastructure, transport and other systems," CAT noted.

In the short term, governments would rightly focus on saving lives, supporting health infrastructure, food availability, and the many other urgent social and economic support measures such as short-term job allowances, direct cash handouts to citizens, or targeted liquidity support to small and medium-sized enterprises.

"COVID-19 recovery presents both opportunities and threats to enhancing our resilience to climate change," CAT noted.