The UK is on track to miss its ambitious decarbonization targets for 2030 and its goal of reaching net zero greenhouse gas emissions by mid-century, according to a report by Norwegian risk manager DNV.
Under the Paris Agreement, Britain committed to reducing emissions by 68% by 2030 compared to 1990 levels. However, DNV's forecast predicts a reduction of only 55% by then.
\"Without immediate action the UK will fail to deliver on its climate commitments, fall behind in the global race to decarbonize,\" warned Hari Vamadevan, Executive Vice President and Regional Director for UK & Ireland at DNV.
In addition to its Paris Agreement obligations, the UK has a legally binding target of achieving net zero emissions by 2050 from 1990 levels. Yet, the report indicates that annual emissions could be 125 million metric tonnes of carbon dioxide equivalent by 2050, marking an 85% reduction instead of the targeted 100%.
Transport and buildings are identified as the largest contributors to total annual emissions in 2050. Last year, the British government delayed the ban on new petrol and diesel cars and vans from 2030 to 2035. DNV noted that a significant number of vehicles, especially commercial ones, will continue to rely on fossil fuels, and the aviation sector will remain a major emitter due to the slow adoption of low-carbon fuels.
