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The Anthropocene

A new global energy economy is emerging, but the transformation still has a long way to go

Today’s emission reduction pledges cover less than 20% of the gap that needs to be closed by 2030 to keep a 1.5 °C path within reach.

For all the advances being made by renewables and electric mobility, 2021 is seeing a large rebound in coal and oil use. Largely for this reason, it is also seeing the second-largest annual increase in CO2 emissions in history.

Public spending on sustainable energy in economic recovery packages has only mobilised around one-third of the investment required to jolt the energy system onto a new set of rails, with the largest shortfall in developing economies that continue to face a pressing public health crisis.