6 May: Scatec has today signed the Call on Carbon initiative which calls on countries to back their net zero targets with Paris Agreement consistent measures to clear a path to reach net zero emissions.
Climate change is accelerating, but mitigation efforts are lagging behind and only a fraction of greenhouse gas emissions have an effective carbon price.
“We wholeheartedly support the Call on Carbon initiative. Less than a quarter of global greenhouse gas emissions are covered by carbon pricing initiatives, and we need to kick-start a change if we are to achieve the needed level of actions and investments”, says Raymond Carlsen, CEO of Scatec.
Despite the fact that countries representing about 65% of global CO2 emissions, and about 70% of the world’s economy, have set climate neutrality targets, the level of investment in clean solutions is still too low. It is estimated that investment needs to be roughly tripled to limit the global temperature increase to 2°C and increased about fivefold to meet the target of 1.5°C.
Read more about the initiative here.