Paris accord's 2-degree target requires double pace in RE build-out

Investments in renewable energy hit a record once again in 2020 despite macroeconomic setbacks. However, they must more than double on an annual basis over the next 30 years if global warming is to be kept below 2 degrees Celsius on average, shows Norwegian utility Statkraft's annual climate report.

Photo: Statkraft

Every year, Norwegian state-owned utility Statkraft, with unyielding optimism, publishes its analysis for a low-emissions scenario, with the company focusing less on extreme weather events and melting ice caps and more on how the world can keep temperature surges to a minimum.

In 2019, Statkraft announced a conclusion that not only was it possible to keep the global temperature increase to 1.5 degrees Celsius rather than 2, but it would also be cheaper due to falling prices on renewable energy.

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