Under its 'Forecast Policy Scenario' (FPS), which it believes is the most likely outcome for near-future climate policy announcements, PRI expects sweeping changes across energy systems and transport over the next decade.
It predicts that zero-emission vehicles will make up around 30 per cent of all vehicles on the road by 2030, accelerating the demise of oil, which is already near its all-time peak and is expected to decline significantly after 2026/27.
Wind and solar power will represent over 30 per cent of global electricity generation by 2030, more than three times today’s levels (around 10 per cent).
The FPS also anticipates rapid changes in the food and land systems, often overlooked in climate scenarios, that will see land use becoming a net carbon sink within 30 years as the world reaches ‘peak meat’ consumption in 2030.
The PRI did warn however, that the Paris Agreement’s loftier goal – which is to minimise warming to just 1.5°C above...