India has pledged to be at Net Zero emissions by 2070 – but pledges won’t go far enough toward curbing global carbon emissions, says SAGE Advisory’s ESG Analyst Andrew Poreda.
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“Pledges are nice, but when you see what is happening in places like Europe or China with respect to energy consumption it should be clear that we all have a long way to go in crafting a viable path towards Net Zero. It takes only one country for Net Zero to fall apart,” says Poreda.
Smaller countries around the world see Net Zero as a critical component toward solving the climate challenge.
Europeans have out-pledged the U.S. when it comes to climate change, but even within Europe, there are challenges. Germany is one of the top users of coal from a per capita perspective and now have some of the highest electricity prices in the world and are now at the mercy of countries like Russia for their energy needs.
France Will Have The Last Laugh
But, Poreda says there is one bright spot in Europe which more countries around the world should be looking to as they try to move toward Net Zero.
“I believe France will have the last laugh when it comes to seeing which country leads the way towards achieving Net Zero. When others were aggressively abandoning nuclear power, France remained committed to the technology, and now they seem to be perfectly positioned for an affordable path towards Net Zero,” says SAGE Advisory’s Poreda.
If you’d like to speak with SAGE’s Andrew Poreda about why building more wind turbines and other renewable energy sources will make it challenging for countries to get to Net Zero and why nuclear energy has been sidelines at COP26, we’d be happy to set up an interview with Andrew.
