The International Energy Agency recently released a report on renewable energy making clear that while the global community can meet the renewable energy tripling goal by 2030, we will not do so based on current policies and market trends. To be clear, this decade will show how the global community can come together to shatter historic trendlines by deploying more renewable energy over the next five years than the previous 100. Renewable energy will surpass coal power as the primary energy source next year. But if we intend to meet our climate commitments, we need to do so more urgently.
WWF is paying close attention to the new round of Nationally Determined Contributions (NDCs) that parties to the Paris Agreement are obligated to develop and submit this year. The NDCs represent the plans that a party intends to use to reduce its emissions in accord with the Paris Agreement. Ideally, countries should deliver emissions reductions of about 60% by 2035 to stay on track with the goals of the Paris Agreement. How countries get to their targets is critical. The more federal policymakers involve businesses, their regional, city and local governments, civil society, and other institutions, the more likely we are to reach our climate goals.
Reaching these kinds of goals requires massive scaling of renewables and energy efficiency. Companies will have to make strong net-zero commitments, report against them, and stick to them. We cannot treat technologies like carbon capture utilization and storage, direct air capture, or advanced nuclear as "silver bullets," as they are not ready to be used at scale. WWF is looking critically at the plans of governments and companies to ensure they are engaging in authentic, cost-effective, and practical measures to reach their goals. Utility-scale solar and wind are already cheaper than fossil fuel power generating facilities today so there is no need to rely on hypothetical technologies when investments in clean, renewable energy can be made now.
Fighting the flywheel effect of climate impacts with nature
Although 2023 was the hottest year on record, 2024 looks like it just might be worse. Last year sported a record-breaking number of billion-dollar disasters, with two high-powered storms slamming the Eastern half of the US within days of each other in the first weeks of January. There is no reason to expect 2024 is going to be different as storms, wildfires and other threats are exacerbated by climate change. We have already seen insurance companies backing out of providing ordinary coverage in places like Florida and California, by requiring property owners to pay extra charges to insure their homes. Climate-related weather events and disasters continue to impact communities and rack up billions in costs. Critically, communities, local and federal policymakers, and affected industries must invest in resilience and climate-adaptive buildings and infrastructure.
WWF will continue to advocate for more funding and deployment of nature-based climate solutions for precisely this reason. Unchecked climate change tends to behave like a flywheel – a circular object continuously spinning and gaining momentum if there is no intervention. We are witnessing storms, wildfires and other climate-related disasters destroying forests, mangroves, and landscapes that help sequester carbon and break up storm surges. And in turn these valuable ecosystems are becoming even more susceptible to climate impacts. The cycle accelerates the problem without intervention. Nature-based solutions – using large scale landscapes to help sequester carbon and protect landscapes and communities from storm damage – are one of the few tools that allow us to interrupt the cycle as we seek to reduce emissions and reduce climate impacts.
