Energy giants plan to cut carbon to half by 2040

Bloomberg

A group of companies and non-profit agencies that includes energy giants Royal Dutch Shell Plc and BHP Billiton said global greenhouse gas emissions could be cut in half by 2040 without impeding economic development, in part by converting grids to use mostly renewable power.
The declining costs of wind, solar and batteries will make it possible within 15 years to build power networks that get as much as 90 percent of their power from renewable sources while providing electricity at a cost that’s competitive with fossil-fuels, according to a report released on Tuesday by the Energy Transitions Commission, a group of energy companies, investors and non-profit organizations including the Rocky Mountain Institute.
The study’s details will be outlined on Tuesday at the Bloomberg New Energy Finance Future of Energy Summit in New York and presents a road map toward meeting the Paris climate agreement aimed at keeping global warming well below 2 degrees Celsius. It comes as US President Donald Trump is weighing whether to meet a campaign promise of pulling out of the Paris accord.
“The really good news is the potential on renewable electricity,” Adair Turner, chairman of the Energy Transitions Commission, said in an interview. “It is really credible to say we can decarbonize electricity.”