Edmond Rhys Jones

Although the energy transition will continue worldwide, the past year’s election results around the globe have prompted many government leaders to devote more attention to energy affordability and energy security.
Conflicts in Ukraine and the Middle East fueled voter anxiety over potential supply shortages, particularly in countries that depend on energy imports.
Voters’ worries are prompting governments to take a fresh look at the cost of the energy transition and assess how to manage… Show more

Although the energy transition will continue worldwide, the past year’s election results around the globe have prompted many government leaders to devote more attention to energy affordability and energy security.
Conflicts in Ukraine and the Middle East fueled voter anxiety over potential supply shortages, particularly in countries that depend on energy imports.
Voters’ worries are prompting governments to take a fresh look at the cost of the energy transition and assess how to manage the financial burden more equitably.
Given the need to bolster growth and employment, governments will likely prioritize technologies and industries that strengthen their country’s competitiveness. Show less

In a shifting geopolitical landscape, policymakers and business leaders need to rethink how they collaborate and compete across borders as they work to reduce emissions. Current events point to more multipolar rivalries, with different blocs moving towards net zero at different speeds because of regional disparities and political agendas.
Coopetition—collaboration among competitors with the goal of outcomes that benefit all—provides a roadmap for countries and businesses to stay… Show more

In a shifting geopolitical landscape, policymakers and business leaders need to rethink how they collaborate and compete across borders as they work to reduce emissions. Current events point to more multipolar rivalries, with different blocs moving towards net zero at different speeds because of regional disparities and political agendas.
Coopetition—collaboration among competitors with the goal of outcomes that benefit all—provides a roadmap for countries and businesses to stay climate-resilient while holding onto, or even gaining, industrial capacity and economic security.
Three climate-specific consequences are likely to shape the course of actions toward net zero: more carbon border adjustment mechanisms, a rise in trade defense measures, and increasing complexity in national approaches to green policy.
Our recommendations for government and business leaders to maintain progress toward net zero are to set common standards, focus on outcomes, take a balanced policy approach, push for global inclusivity, and maintain carbon competitiveness. Show less

Leaders’ hesitation to incur the upfront costs of mitigation and adaptation has slowed the collective response to climate change. But what are the economic implications of inaction?
At the current level of investment in climate action, the world would stay on the prevailing temperature trajectory (more than 3°C) and generate losses of up to 16% to 22% in cumulative GDP.
Investing less than 2% of cumulative GDP in additional mitigation efforts until 2100 will limit the temperature increase… Show more

Leaders’ hesitation to incur the upfront costs of mitigation and adaptation has slowed the collective response to climate change. But what are the economic implications of inaction?
At the current level of investment in climate action, the world would stay on the prevailing temperature trajectory (more than 3°C) and generate losses of up to 16% to 22% in cumulative GDP.
Investing less than 2% of cumulative GDP in additional mitigation efforts until 2100 will limit the temperature increase to less than 2°C, avoiding economic impacts of an estimated 11% to 13% of cumulative GDP by 2100.
The cost of inaction amounts to approximately 10% to 15% of lost global GDP by 2100. But this share of GDP can be freed up if leaders take sufficient climate action now. Show less

Society has gone through energy transitions in the past—but nothing like this one. To limit global warming to 1.5°C above preindustrial levels, we must ramp up renewables and other low-carbon solutions at warp speed.