PwC Analysis: Brazil, India Leading in Low Carbon Emission Drive Among G20 Countries
By 2050, carbon emission in Brazil will have gone down by 79 percent from the 5.4 percent it recorded since 2000, and India will have cut off its carbon emission by 20-25 percent in 2020 as targeted by its government, disclosed the analysis released by PwC.
PwC’s analysis, Low Carbon Economy Index, covered a 50-year ‘carbon budget’ for the G20 countries that aims to answer IPCC’s targeted greenhouse gas stabilization, including a combination of their GDP and emissions growth rates.
PwC noted how Brazil remained on top of the other G20 countries in terms of reducing carbon emission (also called carbon intensity levels that serve as emission ratios to GDP). The analysis generally measures the length of years the G20 countries would spend in their campaign against carbon emission until 2050. However, Brazil still faces challenges in deforestation and land use.
India, on the other hand, has managed to maintain a low carbon emission per capita by improving energy efficiency, maximizing renewable energy and reforming land and forestry practices. This is, however, challenged by India’s growing economy and population, and so it is developing a national ‘mission’ to achieve this.
Since 2000, reducing carbon emission has nearly doubled from 2 to 3.8 percent annually based on the estimates of PwC up to 2020. Sixteen years before the targeted deadline, PwC forecasted that the global community will have consumed the 50-year ‘carbon budget.’
PwC’s partner for sustainability and climate change Leo Johnson observed the shift in the climate change agenda to a race in the economy and value creation from political cooperation and sharing of costs. He also stressed the fact that Brazil will need only to reduce its carbon emission by one-fifth against the one-tenth of the rest of the G20 countries as reflected in the current levels.
PwC reported last week corporate leaders’ concern over carbon emission reporting and measurement as viable resorts in reducing costs and optimizing energy.