'Leisure travel has been understandably at a standstill for the last two months so business has been adversely affected. Our focus has been in helping our community navigate through this crisis.'
The pandemic, carbon emissions and revised INDCs
By Somit Dasgupta The current pandemic that has witnessed falling GDP all over the world in 2020 (with the exception of China) has had one positive effect, and that is falling carbon dioxide (CO2) emissions. The Climate Transparency Report (CTR) published in November 2020 stated that the GDP of G20 countries is projected to decrease by about 4% in 2020, which will lead to a decrease in energy-related CO2 emissions by about 7.5%.
A similar sentiment was expressed in the IEA s World Economic Outlook (2020) which mentioned that CO2 emissions will fall by 7% in 2020. The fall in demand for fuels would, however, vary, being 8% for oil, 7% for coal and 3% for natural gas. Generation from renewable sources, on the contrary, will register an increase. The G20 countries, incidentally, account for about 85% of the world s GDP and 80% of CO2 emissions and, therefore, any analyses made on the basis of G20 data is a good approximation of what i