The world is not yet on track to avoid dangerous, irreversible climate change. But in the five years since the Paris Agreement, progress on low-carbon solutions and markets has been much faster than many realise. And SYSTEMIQ’s latest report finds that low-carbon solutions could progress rapidly through the 2020s. Published today, “The Paris Effect” finds that by 2030, low-carbon solutions could be competitive in sectors accounting for nearly three-quarters of emissions; this is up from one-quarter today (electricity) and no sectors five years ago. “It is clear the global long-term goal of Paris – net zero GHG emissions by mid-century – is now the reference point for governments and financial actors”, says Laurence Tubiana, CEO, European Climate Foundation. “World leaders started a journey in 2015 and now is the time to accelerate.” The Paris Agreement laid out a clear framework for 195 countries to steadily cut their emissions. This shared direction of travel increased the confidence of political leaders to provide consistent policy signals. In turn, these have created the conditions for companies to invest and innovate, and for the markets for zero-carbon solutions to start scaling – from electric vehicles to alternative proteins to sustainable aviation fuels. T […]
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