The transition is fast, but not fast enough
Despite primary energy supply peaking alongside massive growth in power from renewables, we estimate a rise in average global temperatures of 2.4°C above pre-industrial levels by the end of the century; well short of the 2°C Paris Agreement goal. The additional effort to achieve the 2-degree future, or stretch target of 1.5°C, may appear trivial, however as last year’s Intergovernmental Panel on Climate Change (IPCC) report highlighted, every tenth of a degree matters in avoiding dramatic and consequential impacts such as severe environmental degradation and massive movements of populations.
The rates of technology development and cost reduction suggest it is still possible to achieve the 1.5°C target; but advancing and deploying them swiftly enough is a tremendous challenge. Only extraordinary steps combining the efforts of governments, the private sector and broader society will get us there if we take action now.