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…
Read MoreClean 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…
Read MoreUrgent 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…
Read MoreElectric 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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