Most of the greenhouse gases that trap heat in the Earth's atmosphere come from burning fossil fuels to produce energy, mainly for electricity and heat. In 2023, the power sector was the largest source of global greenhouse gas emissions.
The science is clear: to avoid the worst impacts of climate change, emissions must be reduced by almost half by 2030, and reach net-zero by 2050.
To achieve this, we need to end our reliance on fossil fuels and invest in alternative sources of energy that are clean, accessible, affordable, sustainable, and reliable.
Renewable energy sources — such as sunlight, wind, water, organic waste, and heat from the Earth — are abundant, replenished by nature, and emit little to no greenhouse gases or air pollutants.
Fossil fuels still account for nearly 60 per cent of electricity generation, but cleaner sources of energy are gaining ground. Between 2015 and 2024, annual electricity capacity of renewables increased by around 2,600 gigawatts (GW) - a 140 per cent increase. In the same period, fossil fuels electricity capacity only increased by around 640 GW (16 per cent).
It is important to remind our selves that about 80 per cent of the global population lives in countries that are net-importers of fossil fuels - that’s about 6 billion people who are dependent on fossil fuels from other countries, which makes them vulnerable to geopolitical shocks and crises.
In contrast, renewable energy sources are available in all countries, and their potential is yet to be fully harnessed. The International Renewable Energy Agency (IRENA) estimates that 90 percent of the world’s electricity can and should come from renewable energy by 2050.
Renewables offer a way out of import dependency, allowing countries to diversify their economies and protect them from the unpredictable price swings of fossil fuels, while driving inclusive economic growth, new jobs, and poverty alleviation.
Today, renewable energy is the most affordable source of power in most parts of the world.
Prices for renewable energy technologies are dropping rapidly. Over 90 per cent of new renewable projects are now cheaper than fossil fuels alternatives. At the same time, solar and offshore wind are now respectively 41 per cent and 53 per cent cheaper than fossil fuels.
Declining prices are making renewable energy more attractive worldwide – including to low- and middle-income countries, where most of the future demand for new electricity will arise. This creates a real opportunity for much of the new power supply over the coming years to come from low-carbon sources. By 2040, for instance, Africa could generate 10 times more electricity than it needs – entirely from renewables.
Renewable energy can also help meet new electricity demand, particularly for Artificial Intelligence (AI) and data centres. A typical AI data centre eats up as much electricity as 100,000 homes. Every major tech firm should switch to 100 per cent renewables to power data centres by 2030.
Cheap electricity from renewable sources could provide 65 per cent of the world’s total electricity supply by 2030. It could decarbonize 90 per cent of the power sector by 2050, massively cutting carbon emissions and helping to mitigate climate change.
According to the World Health Organization (WHO), about 99 percent of people in the world breathe air that exceeds air quality limits and threatens their health. Air pollution is associated with 7 million premature deaths every year.
The unhealthy levels of fine particulate matter and nitrogen dioxide originate mainly from the burning of fossil fuels. The economic health damage caused by air pollution amounts to $8.1 trillion a year, equivalent to 6.1 per cent of global GDP.
Switching to clean sources of energy, such as wind and solar, helps address not only climate change but also air pollution and health.
A Guest Editorial