The document discusses trends related to climate change and clean energy. It notes that temperatures and climate disasters are increasing globally. It also reports that 165 countries have submitted plans to reduce emissions and that solar, wind, and battery costs continue to decline. While Trump may slow progress, emissions in the US still declined in 2017 and renewables are the fastest growing energy source. The document concludes that three renewable technologies are now cheaper than other new electricity sources in some areas. The transition to low emission energy is unstoppable but more rapid impacts could accelerate action. Deep decarbonization remains a challenge in some regions due to heating demand.

1. Chris Huhne
Senior adviser, ET
A short progress report
Cleantech, London
Tuesday 20 March 2018

2. Temperatures are increasing
Source: NASA Earth Observatory

3. The frequency of climate related disasters is increasing
Source: EM-DAT International Disaster Database

4. Climate regulation is increasing globally
Source: Climate Change Laws of the World

5. Insight: carbon pricing now covers 25% of global emissions
Source: World Bank

6. 165 Countries have submitted formal decarbonisation plans
Source: World Resources Institute

7. Solar costs go on falling (and so do batteries, on- and off-shore wind)
Source: Bloomberg New Energy Finance

8. Trump will slow progress, but not stall it
Source: Carbon Tracker
‣ US emissions fell to 25 year low in 2017 as solar
replaces gas, and gas replaces coal
‣ State and city coalition for action in USA (left)
‣ Half of G20 have stable or falling emissions
‣ IEA finds renewables fastest growing energy
source: now 18% in USA, x2 in 10 years
‣ Big fall in offshore wind costs to £57 per mwh
(UK) mean that 3 renewables now cheaper than
gas if back up costs are excluded
‣ Global clean energy investment rose to $333
billion last year (BNEF) despite falling costs
‣ Markets are still valuing low carbon companies
more highly

9. Low carbon shares outperform the global market

10. Conclusions
Source: Carbon Tracker
‣ Three renewables (solar, onshore wind, offshore
wind) now cheaper in increasing parts of globe
than any other new electricity generation
‣ The low emission revolution is unstoppable, and
the only issue is speed of roll out (carbon price or
carbon tax)
‣ But danger of faster impacts than expected,
particularly glacier melt, gulf stream and sea level
rise: this could accelerate politics and markets
‣ Deep de-carbonisation for northern hemisphere
still a challenge because of heat demand peaks
‣ Need to put geo-engineering onto the agenda to
buy time for deep de-carbonisation