Modernising Agreements and Transition to Renewables
Transitioning towards net zero emissions
Low-carbon policies
Net zero by 20501
Net zero by 20502
✪ Carbon neutral by 20603
Scrap use
Cannibalises some demand
for primary material
Electrification
2.5x electrification growth
from now to 2050 in net
zero scenario
Average per capita
electricity demand will
more than double
Renewables
Renewable energy from
10% to 70% of energy
mix by 2050
16x wind increase
30x solar increase
Power storage
Battery capacity additions
for electric vehicles will grow
over 30x by 2050
Stationary storage will grow
with intermittent renewable
generation
Hydrogen
A critical part of the fuel
mix in industry and heavy
transport
6% of final energy mix by
2050
ΑΙ
4-6%
Steel
1-3%
Cu
3-4%
Annual growth to 2040
1 EU Updated Nationally Determined Contribution (NDC), Dec 2020, United Nations Framework Convention on Climate Change (UNFCCC) | 2 As per section 4.a(ii).b, The United States of America Nationally
Determined Contribution, April 21 2021 | 3 Official Statement in 75th Session of The UN General Assembly, Sep 2020 Source: Net zero statistics from International Energy Association (IEA)
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