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What the numbers say: Clean electricity has grown as a share of global energy generation for over a decade. The share of clean electricity in the global energy mix fell in 2012 and then grew consistently until 2021, when it saw another dip. 39.1% of the world's energy production was derived from clean sources in 2022, up from 32.95% in 2010. Relevance: 196 countries signed the Paris Agreement on December 12, 2015. The signatories agreed to slash carbon emissions to keep the global average temperature from rising more than 2°C above pre-industrial levels. Several countries have submitted plans to increase clean energy generation as part of their nationally determined contributions to the Paris Agreement. The U.S. has set a target to make 100% of its electricity production carbon pollution-free by 2035. Brands that should care: Energy companies may benefit from generous government incentives to increase clean energy production. President Biden's Inflation Reduction Act features $369B in funding and tax incentives for clean energy and climate programs over the next 10 years, while the EU currently spends approximately €70B ($77B) a year on renewable energy subsidies. |
