Despite shifts in U.S. policy, the world is making strides against climate change. Investment in renewable energy has surged, topping $2 trillion globally, representing about 90% of new energy capacity added in 2024. Public and private funding to combat climate impacts has also approached $2 trillion as of 2023.
Global carbon emissions per person are stabilizing, indicating a gradual move away from fossil fuels, largely due to China’s increased investment in renewables. According to the International Energy Agency, total global emissions might soon plateau for the first time in decades.
Progress has been visible since the mid-1990s, with the Paris Climate Agreement striving to keep global warming below 2 degrees Celsius. However, experts warn we’re crossing the 1.5-degree threshold. While emissions are still rising, the rate has slowed significantly—from 1.9% growth annually to just 0.3% in the past decade.
Globally, there’s potential for massive cuts to emissions. Greg Jones from the Climate Reality Project emphasizes that the technology for a carbon-free energy system exists. He states, “It’s just a matter of policies and funding getting to the right places.” The U.S. needs to ramp up clean energy sources like solar and wind to modernize outdated infrastructure.
However, decarbonizing certain sectors, like air travel and cement production, remains a challenge. Yet these represent a small fraction of overall emissions. Anne Criss from the University of California advocates for better public transportation options to help reduce greenhouse gases effectively.
On the political front, recent decisions by the U.S. government, particularly under President Trump, have reversed many climate initiatives, including withdrawing from the Paris Agreement and cutting electric vehicle incentives. These changes threaten America’s role as a leader in climate action, potentially allowing other nations to weaken their commitments as well.
Despite these political obstacles, global investments in renewable energy continue to rise, with over 91% of new projects being cheaper than fossil fuel alternatives. Notably, state and local policies contribute significantly to the growth of renewable energy in the U.S. This demonstrates that even with federal setbacks, progress can still occur at other levels of government.
However, experts agree that more robust funding is essential. Reports suggest that achieving net-zero emissions may require trillions in annual spending. In contrast, failing to act could cost the global economy over $3 trillion each year by 2050, according to the World Economic Forum.
Ultimately, as Amanda Levin from the National Resources Defense Council notes, addressing climate change often takes a backseat to other pressing challenges. But with the right investment and political will, there remains a clear path forward toward a sustainable future.
