Exxon Sounds Alarm on Worsening Global Warming Amid Coal's Persistence
ExxonMobil's annual Energy Outlook warns that global carbon dioxide emissions will reach 30 billion metric tons by 2050, nearly three times the level needed to limit warming to 2C above pre-industrial norms. This estimate is about 10% higher than last year due to slow adoption of emission-reduction efforts and continued reliance on coal for power generation.
The world is 'nowhere close' to meeting the UN's 2C target, according to ExxonMobil Economic and Energy Director Prasanna Joshi. The company predicts a temperature increase of between 2.5C and 3C by 2050. Coal has remained a key energy source due to rising prices for liquefied natural gas and the intermittent nature of some renewables.
Joshi noted that coal is 'sticking longer' from an energy security perspective, particularly in Asia-Pacific regions. The US Department of Energy's Undersecretary Kyle Haustveit also expressed support for coal, stating it remains the largest fuel source for electricity and is a positive development.