CO2 QUOTE Closing from 25-09-2026 86,47 €/T

At COP27 this November, the end of the thermal car by 2035 will be asked to be set globally.

• A recent report by the UN, the International Energy Agency and the Renewable Energy Agency is already requested
• Quadruple the investment in renewables, required to meet the 2030 climate goals
• The investment would mean more than one trillion euros in renewables plus another 130,000 million in hydrogen

At COP27 next November, a large group of countries around the world are expected to sign an agreement to set a common date for the mandatory exclusive sale of new zero-emission vehicles. That would be a historic milestone for the transformation of mobility worldwide, set in the framework of the 27th edition of the United Nations Conference on Climate Change. It would also imply a new nail in the coffin of exclusively thermal vehicles on a joint scale, since until now these initiatives had been advancing only at the individual level of the countries, although with continuous announcements.

This possibility arises from a report prepared jointly by the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA) and the UN, which has transcended data before the celebration between November 6 and 18 of said annual conference. This document has already been endorsed by 45 leaders of governments of the world that represent 70% of the world economy. Its recommendations include not only setting such a joint date for zero-emission vehicles, but also others such as raising the minimum energy efficiency standards for the most energy-consuming appliances or setting international standards for low-carbon hydrogen. The report is called the 2022 Innovation Agenda and has just been made public.

For four

The data indicates that, to meet the 2030 climate goals, the amount of renewable energy the world deployed in 2021 will need to be multiplied by four each year. This would mean reaching 8 Tera watts – eight trillion watts – of additional renewable capacity.

Drastically multiplying the production of green hydrogen, but also the so-called low carbon – that is, the one that combines with carbon capture technologies to trap polluting emissions – is another of the announcements. The document calls for an increase in its production to 150 million metric tons by 2030.

For this, it would be necessary to make investments of one trillion dollars (€ 1,036,699,172,864 approx. according to change), in addition to another 130,000 million in hydrogen to avoid the effects of climate change.

Other indications of a more strategic cut point to a joint work of the states to scale markets for these clean technologies. That would involve purchasing commitments and joint processes to ensure financing and technical assistance to developing countries whose economies are fossil fuel-based to abandon them.

Acceptance of those guidelines will not be easy. Among the 45 signatory countries are in addition to the bloc of the European Union, the United States and Australia, but also other less developed ones such as Nigeria or Egypt. However, complaints have already been raised from developing countries, which claim that so far no country has managed to develop solely with renewable energy.

Where are we

Transport in the broad sense, not only road transport, accounts for 20% of global CO2 emissions. Road transport achievements lag behind the path committed in the Paris agreements.

• In 2021, only 1% of the world’s car fleet was zero-emission, compared to the 20-25% needed by 2030.
• Global sales of zero-emission cars were below 9% versus the 60% that will be needed by 2030.
• Zero-emission trucks, which have just debuted on the market, should constitute between 35-40% of sales by 2030.
• Zero-emission buses should increase their sales from 14% to 60%.

recommendations

So these three international bodies (UN, IEA, IRENA) recommend:

1. A global consensus on the date of prohibition of sales of vehicles other than zero emissions, with the proposal that the agreed date be around 2035.
2. Governments must accelerate the development of charging infrastructure. This should be complemented by technical and financial assistance to developing countries at the city, province, national and zonal levels.
3. Governments should work together with industry to avoid divergent standards for charging infrastructure. The same to establish joint standards that ensure sustainability and social responsibility throughout the battery supply chain.
4. Exporting and importing countries should agree on common trade regulations to improve efficiency and safety in second-hand vehicles.

Guterres, blunt

According to UN Secretary-General Antonio Guterres, under the historic Paris Climate Agreement, developing countries were promised $100 billion annually to finance initiatives to help them cope with the effects of climate change. An objective that has not been met to date. Guterres stated that financial commitments to the developing world must be fulfilled immediately, and in full.

UN Secretary-General Antonio Guterres continued his appeal because, according to him, efforts to keep the increase in global temperatures at 1.5 degrees above pre-industrial levels also set in the Paris Agreement, are “with assisted respiration”. He also said that emissions that should be halved by 2030 are on track to increase by 14%. And he launched very harsh statements by stating that “The fossil fuel industry is killing us,” as well as that “leaders are not up to their people, who are crying out for urgent climate action.”

Source: Nius