Less than 15% of low-emissions technologies required to meet Paris Agreement-aligned targets by 2050 have been deployed, according to new McKinsey research.
Despite all the progress and commitments to decarbonise over the past decade, global emissions have still risen 9% since 2015.
This growth is largely driven by increasing global energy demand fuelled by population growth, rising industrialisation, growing income levels, and emerging demand sources, such as data centres.
Combining the operational, final investments, and under-construction capacity for each technology in the three key regions (China, US, Europe) suggests that 2030 targets may not be met.
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