To keep the window open to limit global warming to 1.5 C, countries need to accelerate transformation towards a net-zero emissions future across all sectors at a far faster pace than recent trends, according to this report from World Resources Institute and ClimateWorks Foundation, with input from Climate Action Tracker.

For example, the report finds that to get on track for the emission cuts required by 2030, the world needs to:

  • Accelerate the increased share of renewables in electricity generation five times faster;
  • Phase out coal in electricity generation five times faster;
  • Reduce the carbon intensity of electricity generation three times faster;
  • Accelerate the uptake of electric vehicles 22 times faster than the significant rates of adoption in recent years;
  • Accelerate the increase in the share of low-carbon fuels by eight times faster; and
  • Accelerate the increase in annual tree cover gain five times faster.

The rapid transformation needed to halve emissions by 2030 will require significant financial investments, technology transfer and capacity-building for developing countries. While climate finance has increased significantly in recent years across the public, private and philanthropic sectors, it is still not at the scale needed to revolutionize our energy and transportation systems, accelerate energy efficiency and protect forests. Estimates indicate that between $1.6 and $3.8 trillion per year will be needed through 2050 to transform the energy system alone.

Read the full article about climate action by Katie Lebling, Mengpin Ge, Kelly Levin, Richard Waite, Johannes Friedrich, Cynthia Elliott, Christina Chan, Katherine Ross, Fred Stolle, and Nancy Harris at World Resources Institute.