The strategy involves increases in energy efficiency, greater use of renewables and carbon capture to cut emissions, and does not necessitate a large scale shift to nuclear power. According to PwC's plan, the world's leading economies in the G7 would take the lead, while the worlds fast-growing developing nations - China, India, Brazil, Russia, Mexico, Indonesia and Turkey - would be allowed to increase their emissions moderately in order to continue their development towards first world economies.
Highlights of the plan include:
- Double the current non-fossil fuel primary energy share to about 30% by 2050 for a 25% reduction.
- Increased energy efficiency gains to 2.6% a year from today's 1.6% for a 33% reduction.
- Carbon capture and storage for a further 20%.
- The European Union could cut its share of global emissions to under 9% by 2050 from 15% now.
- Britain's should fall to 1% from 2%, it said.