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COP26 Highlights
The United Nations Conference on Climate Change, or COP26, concluded earlier this month after two weeks of deliberations, finalizing the Glasgow Climate Pact. World leaders made ambitious commitments to act against the climate crisis and to avoid a temperature rise beyond 1.5 degrees Celsius target, as set in the Paris agreement. While there is still much to be done to ensure this future, here are some of the highlights and key announcements from the summit:
- The U.S. re-entered climate negotiations and released a long-term strategy to reduce greenhouse gases in order to meet net zero no later than 2050.
- Energy companies engaged in the UN Race to Zero committed to reaching 750 gigawatts of installed renewable energy capacity by 2030.
- Over 20% of major global corporations by revenue have now committed to sourcing 100% renewable electricity through RE100.
- 61 investors managing $10 trillion in assets committed to phasing out most thermal coal assets by 2030 for industrialized countries and globally by 2040.
- Ford, General Motors, Volvo, and Mercedes-Benz were among the 11 car manufacturers who pledged to transition new car sales to zero emissions globally by 2040, and by no later than 2035 in leading markets.
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Environment America Releases 2021 Renewables on the Rise Report
Environment America and Frontier Group released their 2021 Renewables on the Rise report, tracking the rapid growth of clean energy technologies in the U.S. over the last decade. The report attributes the growth of clean energy to strong leadership and ambitious targets set by key states, as well as supportive federal policies.
Over the last ten years, renewable energy production grew at an average rate of 15% per year. If the U.S. can continue to accelerate its adoption of renewable energy as we have over the past decade, America could meet all its electricity needs with wind, solar, and geothermal energy by 2035.
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