BP has warned CO2 emissions will increase by 1 percent each year to 2035 — or 25 percent in total — unless policy makers put a “meaningful global price on carbon,” according to the oil giant’s latest energy outlook.

This increase will put emissions on a trajectory significantly above scientists’ recommended path to limit global warming to no more than 2 degrees Celsius, compared with pre-industrial levels.

The BP Energy Outlook 2035 also says global demand for energy is expected to rise by 37 percent from 2013 to 2035, or by an average of 1.4 percent a year.

Earlier this month BP recommended its shareholders support a resolution requiring the oil company to more transparently disclose climate change risks to its business, in response to a resolution brought by activist investors.