Imbalances in the global climate finance flow

 There are clear imbalances in the global climate finance flow. Vast majority of the flows go to advanced economies and East Asia and Pacific region (mostly to China) – near 85% of the total $1415 bn private and public financing.

After 60 years of energy import, the U.S. has become a net total energy exporter since 2019

"U.S. energy consumption was higher than U.S. energy production in every year from 1958–2018. The difference between consumption and production was met by imports, particularly crude oil and petroleum products such as motor gasoline and distillate fuel oil. Total energy imports (based on heat content) peaked in 2007 and subsequently declined in nearly every year since then. Increases in U.S. crude oil and natural gas production reduced the need for crude oil and natural gas imports and contributed to increases in crude oil and natural gas exports. The United States has been a net total energy exporter—total energy exports have been higher than total energy imports—since 2019."

Source: EIA, 2024.

Key questions about "loss and damage" from climate change

 Following are the 8 key questions answered in the WRI's article:

1) What Is Loss and Damage?
2) What Counts as Loss and Damage?
3) What Is the Difference Between Mitigation, Adaptation, and Addressing Loss and Damage?
4) What’s the History of Loss and Damage in UN Climate Negotiations?

Battery costs have fallen by more than 90% in recent years

 "Battery storage in the power sector was the fastest growing energy technology in 2023 that was commercially available, with deployment more than doubling year-on-year. Despite the continuing use of lithium-ion batteries in billions of personal devices in the world, the energy sector now accounts for over 90% of annual lithium-ion battery demand."

Renewables will lead global electricity generation growth

 About 85% of additional electricity demand through 2026 is set to come from developing economies, with China contributing substantially even as the country’s economy undergoes structural changes. 

Challenges of the economy decarbonization for countries with various GDP and carbon intensity

 The countries with significant CO2 emissions are mapped on diagram below depending on their GDP per capita and carbon intensity per unit of GDP.

• Wealthy economies with low emissions per unit of GDP (U.S., Japan, EU countries)  will be able to decarbonize comparatively quickly enough to meet their aggressive stated Net Zero timelines.

Heat pumps will play crucial role in CO2 reduction in buildings

According to International Energy Agency (IEA), heat pumps may reduce global hashtagCO2 emissions by 500 Mt by 2030 , or around 40% of total direct and indirect emissions reductions in space and water hashtagheating in buildings.