"Conventional wisdom suggests that climate tech is entering a winter season, where political and investor interest and investment levels are cooling - an ironic contrast with the climate itself, which keeps delivering years of record warmth. A new report from the International Energy Agency suggests there has never been a better time to go all-in on climate tech. In comparing it with the IEA's stance from a decade ago, it's clear the world's expectations about the future have changed dramatically in less than a generation."
"In 2014, the International Energy Agency assumed that, absent any international effort to rein in carbon pollution, emissions would continue to go up and to the right. Even the most optimistic forecast at the time predicted a linear increase, just with a lower slope. Those scenarios essentially took the trend line from the previous few years and extended it through 2050."
"Today, if countries continue with business as usual, the IEA expects emissions will level off at 38 metric gigatons per year. If countries follow through on their pledges, the IEA suggests we'll hit about 33 metric gigatons per year by 2040. It's still far off from what's needed to hit net zero by 2050, but it's a significant shift in a short amount of time."
Conventional wisdom holds that climate tech investment and political interest are cooling, even as global temperatures continue producing record warmth. New International Energy Agency projections show a marked improvement in emissions trajectories compared with a decade ago. In 2014, without international action emissions were projected to rise to about 46 gigatons of CO2 per year by 2040, with pledged measures only lowering that to 38 gigatons. Current IEA scenarios place business-as-usual at roughly 38 gigatons and pledged actions near 33 gigatons by 2040. Those shifts reduce near-term risk and strengthen the case for accelerated investment in climate technologies.
Read at TechCrunch
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