The past year has brought several challenges — among them, extreme weather events and natural disasters across the globe have been some of the worst in recent memory. With climate issues continuing to escalate each year, the urgent need for action has never been more apparent.
The International Energy Agency predicts that, despite emissions reductions tied to the pandemic shutdown, the world is not set for a "decisive downward turn" in emissions. While there has been momentum on energy transition, the agency's report underscores the fact that faster and bolder structural changes are needed to achieve a zero-carbon future, which is why we believe forging alliances in the public and private sectors is necessary for that to happen.
According to the EPA, the transportation sector in the United States emits the largest share of greenhouse gases — in 2018, it accounted for 28.2 percent of overall emissions. While the power sector is making strides to decarbonize the electric grid, equal attention should be paid to electrifying transportation.
We won't reach a zero-carbon future when our cars, trains, buses, ships and planes continue to run on fossil fuels, and we won't reach a zero-carbon future without commitment and investment in our energy and transportation infrastructure by private and public entities and organizations. Sustainability nonprofit Ceres reported there is a need for an additional $1 trillion per year in clean energy investment to limit global temperature rise to below 1.5 degrees Celsius and avoid the worst impacts of climate change.