Transitioning from fossil-based resources to renewable alternatives is critical to curbing carbon emissions, but it is not the complete solution. Several sectors will continue to rely on fossil fuels in 2050: in industries that require constant and high energy output (such as iron and steel, concrete and chemistry), in extensive and long-distance transport systems (including shipping, aviation and on-road freight transport). According to a report titled Global Renewables Outlook: Energy Transformation 2050, published by the International Renewable Energy Agency (IRENA) in 2020, it is projected that on current trajectories, the global contribution of renewables will be 38% by 2030, rising to 55% by 2050. Under the most ambitious scenarios, these figures could rise to 57% and 86% respectively. Thus, even under the most optimistic of outlooks, the transition away from fossil fuels will take place gradually, underscoring the need for strategies that can immediately reduce their CO₂ output.
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The role of CCS in the decarbonization strategy