Climate change: It can (still) be achieved...
Ten years after the Paris Agreement, the global green transition is at a critical juncture. The latest report from Allianz Research, «A decade after Paris: progress, paralysis and the race to net zero,» shows that even though progress varies greatly between countries and some challenges remain, many are advancing faster than generally assumed.
The Allianz Green Transition Tracker assesses 69 countries based on five indicators to determine how far they have progressed on the path to green transformation. It analyzes carbon and energy intensity, consumption- and area-related emissions per capita, and the share of low-carbon energy in the electricity mix. The Tracker uses two assessment dimensions: the Peer Score, which compares the current status of decarbonization between countries, and the Progress Score, which measures each country's progress relative to the base year 2015 and the net-zero target for 2050.
Structural differences evident
The country comparison reflects well-known structural differences. Countries with lower economic power, such as Sri Lanka, achieve good peer score ratings due to low per capita emissions, while European countries such as Sweden score highly thanks to sustainable decarbonization measures and the expansion of clean energies. Oil-exporting economies, on the other hand, rank at the bottom of the scale. Particularly worrying is the positioning of the world's two largest emitters: China and the US rank 57th and 58th respectively – a clear sign of the scale of the tasks they still have ahead of them.
The pace of decarbonization is encouraging, but still not enough. The progress score shows that 15 countries have already covered a third or more of the way to net zero. They are therefore on track, provided they maintain their current pace.
Luxembourg and Switzerland lead the group
Both countries are characterized by high energy efficiency and an electricity mix in which over 90 percent of electricity comes from low-carbon sources. Another 20 countries have already made at least 20 percent of the way – a measurable, albeit still insufficient, progress. Other economies have much more ground to make up: the US and China, which together account for around 40 percent of global emissions, have improved only marginally since 2015.
«Climate policy continues to face major challenges, but we have already made significant progress and should not give up halfway,» said Patrick Hoffmann, ESG economist at Allianz Research. «About half of the countries surveyed remain on track to do their part to limit global warming. That doesn't mean the mission is accomplished, but it shows that we are not lost. These examples should serve as motivation for the laggards, including China and the United States.»
Switzerland ranks second in the progress ranking
Since 2015, the country has already closed 55 percent of the gap in the climate protection indicators under review and remains on track to keep global warming within the Paris 2°C target. Emissions have fallen by 23 percent since 2005, while gross domestic product has grown by 43 percent. As a result, the carbon intensity of the economy has fallen by 25 percent over the last decade, and the share of global CO₂ emissions has decreased from 0.17 percent to 0.08 percent. Low-carbon energies now account for 99.6 percent of electricity generation, with renewable energy from wind and solar accounting for 21 percent. Nevertheless, the transformation is not proceeding evenly in all areas: emissions from end consumption remain high, and there is still room for improvement in both the transport sector and agriculture.
«Switzerland is now one of the clear leaders in climate transformation,» said Katharina Utermöhl, Head of Thematic and Policy Research at Allianz Research. «The country's almost completely CO₂-free electricity mix gives it an exceptionally strong foundation. To maintain this lead, the transformation must now be more broadly anchored and consistently continued—only then can Switzerland stay on its ambitious course and achieve its climate goals.»
Climate change far from being achieved, but (still) feasible
The report concludes that although global climate change is far from complete, it is by no means a failure. «The green transformation is not a question of possibility, but of pace,» said Ludovic Subran, Chief Economist and Chief Investment Officer at Allianz. «Countries that embed climate targets into their economic and financial frameworks are positioning themselves for stronger, more resilient growth. The challenge now is to accelerate investment where it matters most—energy, infrastructure, and technology—to ensure that the green transition remains both credible and inclusive.»
Source: www.allianz.com
This article originally appeared on m-q.ch - https://www.m-q.ch/de/klimawende-sie-kann-noch-geschafft-werden/
