No longer a future environmental crisis, climate change has begun to impact the lives and livelihoods of everyone around the globe. Since the mid-20th century, the Earth’s natural carbon cycle has drastically changed by burning fossil fuels at a rate that vastly outpaces our natural cleanup crew – plants and trees.

The average global temperature in 2024 will exceed 1.5-degrees Celsius above what the global temperature was in pre-industrial 1900. At the current rate, temperatures will continue to rise, increasing by at least 2 degrees Celsius by 2050 above the 1900 level due to conditions that are already in place and are unlikely to be altered by energy transition efforts. However, efforts to transition to renewable energy in the coming decades will be crucial in limiting the rise above 2 degrees Celsius and thereby avoiding catastrophic “tipping points” in the second half of the 21st century.

Significant accomplishments have been made in reducing per capita GHG emissions in advanced economies. The Paris Climate Agreement, adopted by 196 countries in 2015, has spurred those nations into accelerated action to reduce the carbon footprint in order to achieve carbon neutrality by 2050. As more investors and companies seek greater clarity and confidence in accounting for long-term climate risks and opportunities, the corporate sector has also answered the call and are developing new technologies to lower their GHS emissions and implementing carbon capture solutions. Will these energy transition efforts be enough? Will Earth’s inhabitants be able to succeed in outpacing the damage that has been done?