The global energy transition is now “unstoppable” due to “smart economics”, UN general-secretary António Guterres has said in an online speech titled: “A moment of opportunity.”
His comments coincide with two reports released today, one from International Renewable Energy Agency (IRENA) and the other from the UN that utilises the former’s research.
Between them, the reports provide details of how the “plummeting” cost of renewables has helped the sector expand at pace, meaning that renewables now almost match fossil fuels in terms of global installed power capacity.
In 2024, 91% of renewable power projects that were commissioned were more cost effective than any new fossil-fuel alternatives, according to IRENA.
The 582 gigawatts (GW) of renewable energy capacity added to the global energy system in 2024 helped avoid fossil-fuel use valued at about $57bn, with further cost savings expected as the sector continues to grow.
In his speech, Guterres said:
“Throughout history, energy has shaped the destiny of humankind – from mastering fire, to harnessing steam, to splitting the atom. Now, we are on the cusp of a new era. Fossil fuels are running out of road. The sun is rising on a clean-energy age.”
Below, Carbon Brief details five of the key points from the reports and Guterres’ speech.
- Renewables are increasing as costs fall
- Investment in clean energy tips $2bn
- ‘Stability…in a volatile global energy landscape’
- China dominates deployment…others should now follow
- ‘Faster and fairer’ for 1.5C
Renewables are increasing as costs fall
The cost of renewable energy technologies has fallen over the past decade, with 96% of new solar and wind now costing less than new coal and gas plants, according to IRENA.
In 2024, the global average cost of electricity generated by solar photovoltaics (PV) and onshore wind was 41% and 53% cheaper, respectively, than the least-cost new fossil fuel-fired power plant.
The global average cost of solar PV has fallen to $0.43 per kilowatt-hour (kWh) and onshore wind to $0.34/kWh.
There were some small increases in costs between 2023 and 2024 for some technologies, IRENA notes. Solar PV’s levelised cost of electricity (LCOE) increased by 0.6%, onshore wind by 3%, offshore wind by 4% and bioenergy by 13%.
According to BloombergNEF, increases were broadly due to inflation and supply chain pressures. These led to the first jump in the costs of offshore wind in the UK’s renewable energy auctions, for example.
However, IRENA explains that long-term cost reductions are expected to continue, as further technological lessons are “learnt” and supply chains mature.
Alongside this drop in cost, renewable energy capacity has increased significantly over the past decade, growing by around 2,600GW, or 140%, between 2015 and 2024, according to the UN report.
Over the same period, fossil fuels increased by around 640GW, or 16%.
In 2024 alone, renewables made up 92.5% of all new electricity capacity additions, as well as 74% of electricity generation growth.
This means that the share of global installed capacity is now nearly a 1:1 ratio between fossil fuels and renewables, the UN report notes.
Between 2015 and 2024, renewables increased by 81% in terms of global annual electricity generation compared to a 13% increase for fossil fuels.
The global rollout of solar and wind is already having a significant impact on emissions, saving almost the equivalent of the EU’s annual emissions.
Despite the increase in renewable energy capacity to date, lagging investment in expanding and modernising electricity grids is “becoming a bottleneck for the energy transition”, cautions the UN report. There are at least 3,000GW of renewable power projects waiting for a grid connection.
Investment in clean energy tips $2bn
In 2024, global annual clean-energy investments exceeded $2tn for the first time, according to the UN report.
This is $800bn more than fossil-fuel investment, as shown in the chart below, up almost 70% in 10 years. It follows investment in clean energy surpassing fossil-fuel investment in 2016.
Subsequently, the number of jobs in the clean-energy sector has also continued to grow, reaching 34.8m in 2023, of which 16.2n were in the renewables sector.
According to the UN report, in 2023, the clean-energy sector added $320bn to the global economy. This accounted for 10% of GDP growth globally.
Clean energy accounted for an even higher percentage in certain regions, For example, nearly a third of the EU’s GDP came from the sector. It made up 5% in India, 6% in the US and 20% in China.
In his speech, Guterres noted that, despite clean energy increasingly driving economies, there is still “clean market distortion” with fossil fuels benefiting nine-to-one from consumption subsidies globally. He continued:
“Add to that the unaccounted costs of climate damages on people and planet – and the distortion is even greater. Countries that cling to fossil fuels are not protecting their economies – they are sabotaging them. Driving up costs. Undermining competitiveness. Locking-in stranded assets. And missing the greatest economic opportunity of the 21st century.”
The UN report notes that, in 2024, the economic losses from weather-related extreme events were estimated to be $320bn, of which 56% were uninsured.
Under IRENA’s 1.5C scenario for the energy transition, global annual GDP would increase by 1.5% between 2023 and 2050.
‘Stability…in a volatile global energy landscape’
In 2024, renewable energy helped “avoid” $467bn in fossil-fuel costs globally, according to IRENA.
This reinforces renewables’ role as “not only as the lowest-cost source of new power, but also as a key driver of energy security, economic stability and resilience in a volatile global energy landscape”.
Between 2000 and 2023, Asia saw the biggest savings from clean-energy investment, with £212bn avoided, as shown on the chart below.
This was predominantly due to China, where renewable energy is surging, helping to put the country’s emissions “into reverse” for the first time earlier this year, according to Carbon Brief analysis. (The UN report cites two articles published by Carbon Brief this year.)
In a statement released alongside the report, IRENA director-general Francesco La Camera said:
“The cost-competitiveness of renewables is today’s reality. Looking at all renewables currently in operation, the avoided fossil-fuel costs in 2024 reached up to $467bn. New renewable power outcompetes fossil fuels on cost, offering a clear path to affordable, secure and sustainable energy. This achievement is the result of years of innovation, policy direction and growing markets.”
Additionally, the continued expansion of renewable energy technologies can, says the UN report, help to protect people from the impact of geopolitical instability on international energy markets.
Around 74% of the global population lives in a country that is a net importer of fossil fuels, the report notes. As such, when oil and gas prices surge, they are left particularly vulnerable.
For example, following Russia’s invasion of Ukraine in 2022, gas prices reached record highs and oil prices hit their highest level since 2008, the UN report adds.
Consequently, the average energy bill globally was 20% higher than the average over the previous five years. This was more acute in countries that are particularly reliant on gas imports, such as South Korea, which spent $17bn more on gas in 2022 compared to 2021.
China dominates deployment…others should now follow
While renewable energy deployment has been increasing around the world, the distribution remains uneven, notes the UN report.
As shown in the chart, of the 4,448GW of total renewable capacity installed globally as of the end of 2024, 41% was in China, 39% in OECD countries and almost half of the remaining 20% in Brazil and India.
Africa made up just 1.5% of the capacity installed by the end of last year, despite accounting for 85% of the global population without electricity access and having a renewable energy resource potential 10 times larger than the continent’s projected electricity demand in 2040.
Since 2016, outside of China, less than one in every five dollars invested in clean energy has gone to emerging markets and developing economies (EMDEs), explains the UN report.
Investment is hampered in part by higher costs in EMDEs – for example, the cost of capital for a large-scale solar PV project in one of these economies is well over twice as high as in advanced economies, adds the UN report.
To keep the Paris Agreement’s 1.5C goal within reach, annual clean-energy spending in EMDEs beyond China will need to increase by around five to seven times from 2022 levels, notes the UN report. This would see investment increase to $1.4-1.9tn a year in 2030 and to more than $2tn a year by 2035.
‘Faster and fairer’ for 1.5C
The UN and IRENA reports, along with Gueterres’ speech, highlight that, while progress in transitioning the energy sector away from fossil fuels is underway, “the transition is not yet fast enough or fair enough”.
Since the Paris Agreement came into force almost a decade ago, the collective ratcheting up of global climate ambition and action has meant that “projected global warming has been progressively declining”, the report notes.
It points to the UNEP emissions gap report, which found that warming this century under current policies have fallen from just below 4C to 3.1C. If parties’ conditional climate pledges – known as nationally determined contributions (NDCs) – are fully implemented, warming could fall from 3-3.5C to 2.6C.
This would be lower still, falling to 1.9C, if all net-zero pledges are fully achieved, the UN report notes.
As such, parties need to do more to take advantage of the opportunity presented by the “dawn of a new energy era”, Guterres said, as the “fossil-fuel age is flailing and failing”.
He set out six “opportunity areas”, which include NDCs, meeting surging energy demand with sustainable sources and using trade and investment to “supercharge” the energy transition.
The UN report highlights that at COP28 in Dubai, parties agreed to global targets to triple renewable energy capacity by 2030, double the annual rate of energy efficiency improvement and transition away from fossil fuels in line with global net-zero emissions by 2050.
In his speech, Guterres said “we must drastically speed up the reduction of emissions – and the reach of the clean-energy transition” to reach these goals as the “1.5C limit is in unprecedented peril”.
The impact of current plans and policies, in comparison to those needed to align with 1.5C, is shown in the chart below.
In his statement, La Camera welcomed the surge in renewables to date, but added:
“Progress is not guaranteed. Rising geopolitical tensions, trade tariffs and material supply constraints threaten to slow the momentum and drive up costs. To safeguard the gains of the energy transition, we must reinforce international cooperation, secure open and resilient supply chains, and create stable policy and investment frameworks – especially in the global south. The transition to renewables is irreversible, but its pace and fairness depend on the choices we make today.”
The post UN: Five reasons why switching to renewables is ‘smart economics’ appeared first on Carbon Brief.
UN: Five reasons why switching to renewables is ‘smart economics’
Climate Change
DeBriefed 15 August 2025: Raging wildfires; Xi’s priorities; Factchecking the Trump climate report
Welcome to Carbon Brief’s DeBriefed.
An essential guide to the week’s key developments relating to climate change.
This week
Blazing heat hits Europe
FANNING THE FLAMES: Wildfires “fanned by a heatwave and strong winds” caused havoc across southern Europe, Reuters reported. It added: “Fire has affected nearly 440,000 hectares (1,700 square miles) in the eurozone so far in 2025, double the average for the same period of the year since 2006.” Extreme heat is “breaking temperature records across Europe”, the Guardian said, with several countries reporting readings of around 40C.
HUMAN TOLL: At least three people have died in the wildfires erupting across Spain, Turkey and Albania, France24 said, adding that the fires have “displaced thousands in Greece and Albania”. Le Monde reported that a child in Italy “died of heatstroke”, while thousands were evacuated from Spain and firefighters “battled three large wildfires” in Portugal.
UK WILDFIRE RISK: The UK saw temperatures as high as 33.4C this week as England “entered its fourth heatwave”, BBC News said. The high heat is causing “nationally significant” water shortfalls, it added, “hitting farms, damaging wildlife and increasing wildfires”. The Daily Mirror noted that these conditions “could last until mid-autumn”. Scientists warn the UK faces possible “firewaves” due to climate change, BBC News also reported.
Around the world
- GRID PRESSURES: Iraq suffered a “near nationwide blackout” as elevated power demand – due to extreme temperatures of around 50C – triggered a transmission line failure, Bloomberg reported.
- ‘DIRE’ DOWN UNDER: The Australian government is keeping a climate risk assessment that contains “dire” implications for the continent “under wraps”, the Australian Financial Review said.
- EXTREME RAINFALL: Mexico City is “seeing one of its heaviest rainy seasons in years”, the Washington Post said. Downpours in the Japanese island of Kyushu “caused flooding and mudslides”, according to Politico. In Kashmir, flash floods killed 56 and left “scores missing”, the Associated Press said.
- SOUTH-SOUTH COOPERATION: China and Brazil agreed to “ensure the success” of COP30 in a recent phone call, Chinese state news agency Xinhua reported.
- PLASTIC ‘DEADLOCK’: Talks on a plastic pollution treaty have failed again at a summit in Geneva, according to the Guardian, with countries “deadlocked” on whether it should include “curbs on production and toxic chemicals”.
15
The number of times by which the most ethnically-diverse areas in England are more likely to experience extreme heat than its “least diverse” areas, according to new analysis by Carbon Brief.
Latest climate research
- As many as 13 minerals critical for low-carbon energy may face shortages under 2C pathways | Nature Climate Change
- A “scoping review” examined the impact of climate change on poor sexual and reproductive health and rights in sub-Saharan Africa | PLOS One
- A UK university cut the carbon footprint of its weekly canteen menu by 31% “without students noticing” | Nature Food
(For more, see Carbon Brief’s in-depth daily summaries of the top climate news stories on Monday, Tuesday, Wednesday, Thursday and Friday.)
Captured
Factchecking Trump’s climate report
A report commissioned by the US government to justify rolling back climate regulations contains “at least 100 false or misleading statements”, according to a Carbon Brief factcheck involving dozens of leading climate scientists. The report, compiled in two months by five hand-picked researchers, inaccurately claims that “CO2-induced warming might be less damaging economically than commonly believed” and misleadingly states that “excessively aggressive [emissions] mitigation policies could prove more detrimental than beneficial”80
Spotlight
Does Xi Jinping care about climate change?
This week, Carbon Brief unpacks new research on Chinese president Xi Jinping’s policy priorities.
On this day in 2005, Xi Jinping, a local official in eastern China, made an unplanned speech when touring a small village – a rare occurrence in China’s highly-choreographed political culture.
In it, he observed that “lucid waters and lush mountains are mountains of silver and gold” – that is, the environment cannot be sacrificed for the sake of growth.
(The full text of the speech is not available, although Xi discussed the concept in a brief newspaper column – see below – a few days later.)
In a time where most government officials were laser-focused on delivering economic growth, this message was highly unusual.
Forward-thinking on environment
As a local official in the early 2000s, Xi endorsed the concept of “green GDP”, which integrates the value of natural resources and the environment into GDP calculations.
He also penned a regular newspaper column, 22 of which discussed environmental protection – although “climate change” was never mentioned.
This focus carried over to China’s national agenda when Xi became president.
New research from the Asia Society Policy Institute tracked policies in which Xi is reported by state media to have “personally” taken action.
It found that environmental protection is one of six topics in which he is often said to have directly steered policymaking.
Such policies include guidelines to build a “Beautiful China”, the creation of an environmental protection inspection team and the “three-north shelterbelt” afforestation programme.
“It’s important to know what Xi’s priorities are because the top leader wields outsized influence in the Chinese political system,” Neil Thomas, Asia Society Policy Institute fellow and report co-author, told Carbon Brief.
Local policymakers are “more likely” to invest resources in addressing policies they know have Xi’s attention, to increase their chances for promotion, he added.
What about climate and energy?
However, the research noted, climate and energy policies have not been publicised as bearing Xi’s personal touch.
“I think Xi prioritises environmental protection more than climate change because reducing pollution is an issue of social stability,” Thomas said, noting that “smoggy skies and polluted rivers” were more visible and more likely to trigger civil society pushback than gradual temperature increases.
The paper also said topics might not be linked to Xi personally when they are “too technical” or “politically sensitive”.
For example, Xi’s landmark decision for China to achieve carbon neutrality by 2060 is widely reported as having only been made after climate modelling – facilitated by former climate envoy Xie Zhenhua – showed that this goal was achievable.
Prior to this, Xi had never spoken publicly about carbon neutrality.
Prof Alex Wang, a University of California, Los Angeles professor of law not involved in the research, noted that emphasising Xi’s personal attention may signal “top” political priorities, but not necessarily Xi’s “personal interests”.
By not emphasising climate, he said, Xi may be trying to avoid “pushing the system to overprioritise climate to the exclusion of the other priorities”.
There are other ways to know where climate ranks on the policy agenda, Thomas noted:
“Climate watchers should look at what Xi says, what Xi does and what policies Xi authorises in the name of the ‘central committee’. Is Xi talking more about climate? Is Xi establishing institutions and convening meetings that focus on climate? Is climate becoming a more prominent theme in top-level documents?”
Watch, read, listen
TRUMP EFFECT: The Columbia Energy Exchange podcast examined how pressure from US tariffs could affect India’s clean energy transition.
NAMIBIAN ‘DESTRUCTION’: The National Observer investigated the failure to address “human rights abuses and environmental destruction” claims against a Canadian oil company in Namibia.
‘RED AI’: The Network for the Digital Economy and the Environment studied the state of current research on “Red AI”, or the “negative environmental implications of AI”.
Coming up
- 17 August: Bolivian general elections
- 18-29 August: Preparatory talks on the entry into force of the “High Seas Treaty”, New York
- 18-22 August: Y20 Summit, Johannesburg
- 21 August: Advancing the “Africa clean air programme” through Africa-Asia collaboration, Yokohama
Pick of the jobs
- Lancaster Environment Centre, senior research associate: JUST Centre | Salary: £39,355-£45,413. Location: Lancaster, UK
- Environmental Justice Foundation, communications and media officer, Francophone Africa | Salary: XOF600,000-XOF800,000. Location: Dakar, Senegal
- Politico, energy & climate editor | Salary: Unknown. Location: Brussels, Belgium
- EnviroCatalysts, meteorologist | Salary: Unknown. Location: New Delhi, India
DeBriefed is edited by Daisy Dunne. Please send any tips or feedback to debriefed@carbonbrief.org.
This is an online version of Carbon Brief’s weekly DeBriefed email newsletter. Subscribe for free here.
The post DeBriefed 15 August 2025: Raging wildfires; Xi’s priorities; Factchecking the Trump climate report appeared first on Carbon Brief.
DeBriefed 15 August 2025: Raging wildfires; Xi’s priorities; Factchecking the Trump climate report
Climate Change
New York Already Denied Permits to These Gas Pipelines. Under Trump, They Could Get Greenlit
The specter of a “gas-for-wind” compromise between the governor and the White House is drawing the ire of residents as a deadline looms.
Hundreds of New Yorkers rallied against new natural gas pipelines in their state as a deadline loomed for the public to comment on a revived proposal to expand the gas pipeline that supplies downstate New York.
New York Already Denied Permits to These Gas Pipelines. Under Trump, They Could Get Greenlit
A “critical assessment” report commissioned by the Trump administration to justify a rollback of US climate regulations contains at least 100 false or misleading statements, according to a Carbon Brief factcheck involving dozens of leading climate scientists.
The report – “A critical review of impacts of greenhouse gas emissions on the US climate” – was published by the US Department of Energy (DoE) on 23 July, just days before the government laid out plans to revoke a scientific finding used as the legal basis for emissions regulation.
The executive summary of the controversial report inaccurately claims that “CO2-induced warming might be less damaging economically than commonly believed”.
It also states misleadingly that “excessively aggressive [emissions] mitigation policies could prove more detrimental than beneficial”.
Compiled in just two months by five “independent” researchers hand-selected by the climate-sceptic US secretary of energy Chris Wright, the document has sparked fierce criticism from climate scientists, who have pointed to factual errors, misrepresentation of research, messy citations and the cherry-picking of data.
Experts have also noted the authors’ track record of promoting views at odds with the mainstream understanding of climate science.
Wright’s department claims the report – which is currently open to public comment as part of a 30-day review – underwent an “internal peer-review period amongst [the] DoE’s scientific research community”.
The report is designed to provide a scientific underpinning to one flank of the Trump administration’s plans to rescind a finding that serves as the legal prerequisite for federal emissions regulation. (The second flank is about legal authority to regulate emissions.)
The “endangerment finding” – enacted by the Obama administration in 2009 – states that six greenhouse gases are contributing to the net-negative impacts of climate change and, thus, put the public in danger.
In a press release on 29 July, the US Environmental Protection Agency said “updated studies and information” set out in the new report would “challenge the assumptions” of the 2009 finding.
Carbon Brief asked a wide range of climate scientists, including those cited in the “critical review” itself, to factcheck the report’s various claims and statements.
The post Factcheck: Trump’s climate report includes more than 100 false or misleading claims appeared first on Carbon Brief.
https://www.carbonbrief.org/factcheck-trumps-climate-report-includes-more-than-100-false-or-misleading-claims/
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