taken together…the world’s most powerful financial institutions believe that the future is decarbonized—and that, far from hurting the economy, climate action is likely to help it.
Other important news from 2020:
- Bipartisan bill that Congress just passed…commits the U.S. to phasing out a type of chemical called hydrofluorocarbons, or HFCs. Though normally used in refrigerators or air conditioners, HFCs can escape into the atmosphere and trap heat thousands of times more effectively than carbon dioxide.
- China is willing to compete with the West over who can cut carbon the fastest.
- Operation Warp Speed, the federal program to develop COVID-19 vaccines, has produced two safe and effective vaccines within a year of the virus’s discovery. A similar approach could work if applied to clean energy and other climate tech, too.
- European Union leaders agreed to strengthen the Continent’s climate goals and pledged a new target of 55 percent greenhouse-gas reduction by 2030. The old goal was a 40 percent cut by that year.