Ten years after the landmark Paris Agreement to pursue net-zero emissions by 2050, the world faces a slowing transition to clean energy despite record-breaking renewable capacity installations.
Much has changed in the energy systems in the decade since the Paris Agreement was signed in 2015. These systems faced a global pandemic, the first war in Europe since WWII, an energy crisis, a U.S. government that questioned climate change, and backlash against net-zero policies in banking and equity investment.
Some things have remained constant. One is China’s undisputed leadership in clean energy investment and installations, and cheaper domestically-manufactured equipment, allowing the rollout of solar and wind power capacity at much lower costs compared to Europe and the U.S.
The other constant is the EU’s unwavering insistence on decarbonizing to achieve net-zero emissions across its economies by 2050, despite…
