A new report suggests that despite Carbon Dioxide levels in the atmosphere rising to record levels last year, the carbon intensity of the global economy fell by 2.6%.
The report published by PwC suggests that this fall is still less than half of the required 6.3% level needed for the 2°C global warming target to be achieved.
It is suggested that G20 nations need to crack down on businesses and ensure they are compliant in their decarbonisation processes.
A number of countries saw increases in emissions above GDP growth levels, countries such as Indonesia, Turkey, South Africa and Argentina helped to ensure that fossil fuel accounted for a third of global power production.
The UK, however, is the leader of clean growth with a decarbonisation level of 7.7% with China just behind with a level of 6.5%.
These decreases have been put down to a reduction in coal usage for power generation.
Director of Climate Change at PwC, Jonathan Grant stated: “When it comes to action on climate change and the two degrees goal, the gulf between the best and worst performing nations is widening – and this creates a problem for business.”
“Companies are being encouraged by investors and others to assess the risks of 2°C scenarios.”
“But they’re not forecasting or planning on a 2°C outcome because the signals from governments just aren’t there right now.”