Urgent, Faster Scale-Up of Clean Technologies Presents Multi-Trillion-Dollar Opportunities for Decarbonization of India

India’s window to curb its carbon emissions in line with the major goal of the Paris Agreement – holding global warming to well below two degrees Celsius and avoiding the worst impacts of climate change – is still possible, however, it looks increasingly hard to achieve. BloombergNEF’s (BNEF’s) New Energy Outlook: India shows what it would take to get there. India must rapidly decarbonize its power sector – the largest emitter in the country – to stay on track, more than tripling its solar and wind capacity by 2030 to…

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Faster Scale-Up of Clean Technologies Could Get China on Track for Net-Zero Emissions by 2050

BloombergNEF’s New Energy Outlook: China illustrates how the country could accelerate its decarbonization journey. By achieving net-zero emissions a decade earlier than its current 2060 target, China—the world’s largest emitter—could play a pivotal role in enabling the world to meet the Paris Agreement goal: keeping global warming well below two degrees Celsius and averting the worst impacts of climate change. The report emphasizes that scaling up clean technologies for hard-to-abate sectors is crucial for this accelerated transition. The New Energy Outlook: China, published today by research provider BloombergNEF (BNEF), presents…

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Clean Electricity Breaks New Records; Renewables on Track for Another Strong Year: BloombergNEF

The global transition to clean electricity has reached important new milestones and is set to continue at the current pace. According to a pair of new reports by research provider BloombergNEF (BNEF), for the first time ever, zero-carbon sources made up over 40% of the electricity the world generated in 2023. Hydro power accounted for 14.7%, while wind and solar contributed almost as much at 13.9% – a new record high. Nuclear’s share was 9.4%. These findings emerge from two reports published today by BNEF: Power Transition Trends 2024, and…

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Urgent Scale-Up of Clean Technologies Needed to Keep Australia on Net-Zero Trajectory

The window for achieving net zero by 2050 is closing, but Australia could still achieve a carbon emissions trajectory in line with the major goal of the Paris Agreement – holding global warming to well below two degrees Celsius and avoiding the worst impacts of climate change. BloombergNEF’s New Energy Outlook: Australia shows what it would take to get there. Australia must rapidly decarbonize its power sector to stay on track, growing renewable-energy capacity by 135% before 2030, to more than 126 gigawatts. BNEF’s analysis shows that Australia’s energy mix…

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Electric Vehicle Sales Headed for Record Year but Growth Slowdown Puts Climate Targets at Risk, According to BloombergNEF Report

BloombergNEF’s Long-Term Electric Vehicle Outlook (EVO) shows that EV adoption is still growing, despite the mixed near-term outlook. The new report indicates that rapidly falling battery prices, advancements in next-generation battery technology and improving relative economics of electric vehicles with internal-combustion engine counterparts continue to underpin long-term EV growth globally. However, the report indicates that the window to reach global net-zero transport ambitions is now narrower than ever. The report presents two updated road transport scenarios: the base case Economic Transition Scenario (ETS) – in which EV adoption is shaped…

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