2024: A Critical Year for Climate Action

Global greenhouse emissions need to peak, clean energy investment at risk, and the U.S. presidential election could impact progress.

2024 is a critical year for the energy transition as global greenhouse emissions need to peak by 2025 to stay within the global warming limit of 1.5 C.
European importers of industrial products will need to report the carbon footprint of those goods, putting pressure on suppliers to decarbonize or risk losing market access.
Clean energy investment could fall 9% in 2024 due to rising borrowing costs and potential new banking rules.
Electric vehicles will lose eligibility for the full $7,500 tax credit in the U.S., potentially slowing sales growth.
The U.S. presidential election could impact the energy transition, particularly if Donald Trump wins and withdraws the U.S. from climate-focused agreements.