The UNEP 2016 Emissions Gap Report states that 2030 emissions are expected to reach 54 to 56 gigatons of carbon dioxide equivalents – far above the 42 needed to limit global warming to 2 °C this century. The 2-degree target is slipping out of reach.
The Green Shift has started, with most renewable technologies able to compete with fossil fuels under the right conditions. However, the levelised cost of renewables still varies greatly from project to project. Successful investors must be able to separate the good from the bad.
Recent developments represent a big step in the right direction. But renewables still only account for a tiny share of global energy consumption. Though growth is strong, the low base means fossil fuels are still growing more quickly in absolute terms.
