The clock is ticking, and greater ambition is needed.
The scale of the challenge is unprecedented. The world economy is set to double in the next 20 years, while we need to cut our emissions by more than half in that time and become net-zero by mid-century. Limiting global warming to 1.5˚C requires monumental action. We need to change the way we live, the way we work, the way we farm and eat, and the way we consume energy.
Implementing this enormous shift will require substantial new investments in low-carbon technologies and efficiency. The IPCC SR 15 report finds that if the 1.5˚C goal is to be met, investments in low-carbon energy technology and energy efficiency will need to increase by roughly a factor of five by 2050 compared to 2015 levels.