Pumping gas, oil, and coal into our economy is essential. Pumping them out is difficult. But carbon markets can support transitioning to a greener future. In a thriving world economy, which industries are guilty of producing the highest number of emissions? The energy industry is one of them. It produces three quarters of all global greenhouse emissions, 80% of which are generated from fossil fuels. And while the sector is well on its way towards adopting green energy, some obstacles stand in its way. Because using clean energy is highly costly, and many technologies are still underdeveloped, such as storage solutions, which are needed to smooth and stabilize energy produced from wind and solar.
Next in line is the transportation sector. It's responsible for approximately one quarter of all greenhouse gas emissions. Not surprising, since 95% of the world's transportation industry is fueled by traditional fuels. And demand for this industry is only expected to grow in the next few decades, translating into a much bigger carbon footprint for international travel. The global economy requires solutions that help decarbonize it without the complexities attached to it. That's where carbon markets come into play, helping industries to offset emissions while investing in clean energy and promoting low-carbon activities. Stay tuned for our next video, where we'll take you through the ins and outs of carbon markets and how they can help you deliver on your net zero strategy. Until then, learn about our work and get in touch at publicisapient.com.