Brazil is poised to play a central role in COP30, as the host
In the decade since the Paris Agreement, renewable energy has undergone a remarkable transformation
Against a backdrop of uncertainty—where climate urgency collides with complex geopolitical and socio-economic challenges—one trend is undeniable: the climate transition is irreversible. Across sectors, visionary leaders who anticipated these radical changes decades ago are already driving a sustainable revolution across the global economy.
The message of COP30 is clear: the time to act with urgency is now. Business leaders who embrace the transition will not only build resilience but also seize the extraordinary opportunities it offers. While the private sector has made notable progress, the moment demands more. COP30 must mark a decisive shift from commitments to implementation—aligning incentives, fostering innovation, and revitalizing public–private collaboration to turn promises into measurable outcomes.
On 22 July 2025, the UN Secretary-General underscored a hopeful story amidst the climate emergency: the rise of a new energy era. In his special report, “Seizing the Moment of Opportunity: Supercharging the New Energy Era of Renewables, Efficiency, and Electrification,” he made a compelling case that a just transition from fossil fuels to clean energy is not only inevitable but also full of vast economic and social benefits.
In the decade since the Paris Agreement, renewable energy has undergone a remarkable transformation. Solar, wind, and electric vehicles (EVs) have surpassed even the most optimistic forecasts, with exponential cost declines and manufacturing growth driving adoption worldwide. By 2023, 96% of new utility-scale solar PV and onshore wind projects were cheaper than new coal and gas plants, and by 2024, solar PV costs had fallen to USD 4.3 cents/kWh and onshore wind to USD 3.4 cents/kWh—making them the lowest-cost and fastest-to-deploy power options.
The numbers are striking:
- Renewables accounted for 92.5% of all new electricity capacity in 2024.
- Between 2015–2024, renewable capacity grew by 2,600 GW (140%), compared to just 640 GW (16%) for fossil fuels.
- Global annual electricity generation from renewables increased by 4,470 TWh (81%), outpacing fossil fuels’ 13% rise.
- EV sales surged by 3,300%, from half a million in 2015 to over 17 million in 2024 (>20% of all car sales).
These shifts signal that solar, wind, and EVs have crossed a positive tipping point, entering a self-reinforcing cycle of cost decline and mass adoption. Yet barriers remain: outdated grids, with 3,000 GW of renewable projects stuck in connection queues, and insufficient financing for emerging markets and developing economies outside China.
COP30 must therefore serve as a turning point—from acknowledging the inevitability of change to accelerating its pace. The task ahead is clear: scale up investments, modernize infrastructure, and ensure that the benefits of this new energy era are shared globally.
The writer of this article is Dr. Seema Javed, an environmentalist & a communications professional in the field of climate and energy
