(LF.12) Responsible Consumption and Production

In September 2015, 193 world leaders agreed to 17 Global Goals for Sustainable Development. If these Goals are completed, it would mean an end to extreme poverty, inequality and climate change by 2030.
Goal 12: Ensure sustainable consumption and production patterns.

• [New] Funded by the Photonics PPP, the scientists behind the €4.7 million laser project hope that specially-designed structures on steel ship hulls might help to reduce fuel consumption and replace toxic ship paints and varnishes that are harmful to the environment.
• [New] Global sales of argan oil are soaring: Production, which is almost all from Morocco, is expected to reach 19,623 US tons or $1.79bn (£1.4bn) by 2022 up from 4,836 US tons in 2014.
• [New] The US Department of Agriculture's Foreign Agricultural Service has cut its estimate for India's 2019-20 (Aug-Jul) cotton production at 37.6 mln bales, from 38.1 mln bales projected in December.
• [New] In terms of consumption, the EIA expects 2020 coal use to drop by 11% from 596 million tons last year and by another 3% in 2021.
• [New] Chinese iron ore production increased by approximately 30 Mt in 2019 in response to strong domestic demand and tight seaborne supply: In 2020, Wood Mackenzie forecasts a decent recovery in seaborne supply.
• [New] In Europe, domestic gas production is set to roughly halve over the Outlook causing the share of imported gas in total consumption to increase from around half in 2016 to three-quarters by 2040.
• Natural rubber will likely record a surplus in 2020 with production expected to increase 3.8% on year to 14.3 million metric tons.
• Considering the opening stock and production, global cotton supply in 2019-20 is projected at 44.92 mln tn, compared with 44.38 mln tn a year ago.
• Shale gas is the largest contributor to the projected growth in production, and by 2035 shale gas production accounts for 46 percent of U.S. natural gas production.
• Natural gas consumption in the United States should slow after 2020 and remain flat through 2030 due to slower industrial sector growth and declines in the power sector: U.S. exports could rise to about 27.0 bcfd by 2030 and remain near there through 2050.
• US Gulf of Mexico production will reach a record 2.4 million b/d in 2026, due to deepwater discoveries of oil and natural gas resources.
• By some estimates, Africa could face a near double-digit reduction in crop yields and production volumes over the next decade, as well as rising food prices by similar margins.
• Natural gas consumption is expected to remain relatively flat through 2030 because of slower industrial sector growth and a decline in electric power consumption.
• Deepwater discoveries of oil and natural gas resources in the Gulf of Mexico is expected to lead offshore production in the Lower 48, reaching a record 2.4 million barrels per day in 2026.
• Oil production is expected to begin a slow decline in the mid-2030s, falling another 500,000 barrels per day over the next decade and declining below 12 million barrels per day by 2050.
• Rystad Energy forecasts that Guyana's oil production could reach 1.2 million barrels per day by the end of the decade, lifting total annual oil revenues to about $28 billion, assuming an oil price of about $65 per barrel.
• India's food production needs to be increased substantially in the coming decades due to an expected population growth up to more than 1.6 billion in 2050 along with changing dietary preferences like a higher demand for animal-sourced products.
• In the U.S., the Production Tax Credit has been extended for 2020: The amount of the Solar Investment Tax Credit will be reduced from 30 percent to 26 percent.
• Coal production in the U.S. is expected to decline, along with the amount of energy production that relies on coal, which is at its lowest level in more than 40 years.
• Rising income and consumption, especially as large middle classes emerge in developing countries, will push global consumption to grow by $23 trillion from 2015 to 2030, leading to overall job and economic growth 42.
• Production of all EVs, including gasoline hybrids, will reach 13.3 million in 2026 and account for 13.6% of total global car production of 98.1 million.

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Last updated: 17 February 2020