Full Title: State of Climate Action: Assessing Progress toward 2030 and 2050
Author(s): Katie Lebling, Mengpin Ge, Kelly Levin, Richard Waite, Johannes Friedrich, Cynthia Elliott, Christina Chan, Katherine Ross, Fred Stolle, Nancy Harris
Publisher(s): World Resources Institute, ClimateWorks Foundation
Publication Date: November 19, 2020
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To keep the window open to limit global warming to 1.5 C, countries need to accelerate transformation towards a net-zero emissions future across all sectors at a far faster pace than recent trends, according to this report from World Resources Institute and ClimateWorks Foundation, with input from Climate Action Tracker.
The rapid transformation needed to halve emissions by 2030 will require significant financial investments, technology transfer and capacity-building for developing countries. While climate finance has increased significantly in recent years across the public, private and philanthropic sectors, it is still not at the scale needed to revolutionize our energy and transportation systems, accelerate energy efficiency and protect forests. Estimates indicate that between $1.6 and $3.8 trillion per year will be needed through 2050 to transform the energy system alone.