Limiting global warming to 1.5°C requires far-reaching transformations across power generation, buildings, industry, transport, land use, coastal zone management, and agriculture, as well as the immediate scale-up of technological carbon removal and climate finance. This report translates these transitions into 40 targets for 2030 and 2050, with measurable indicators. Transformations, particularly those driven by new technology adoption, often unfold slowly before accelerating after crossing a tipping point. Nearly a quarter of indicators assessed new technology adoption, with some already growing exponentially. This report considers such nonlinear change in its methodology. The transitions required to avoid the worst climate impacts are not happening fast enough. Of the 40 indicators assessed, none are on track to reach 2030 targets. Change is heading in the right direction at a promising but insufficient speed for 8 and in the right direction but well below the required pace for 17. Progress has stagnated for 3, while change for another 3 is heading in the wrong direction entirely. Data are insufficient to evaluate the remaining 9. This report also identifies underlying conditions that enable change—supportive policies, innovations, strong institutions, leadership, and shifts in social norms. Finance for climate action, for example, must increase nearly 13-fold to meet the estimated need in 2030.
Achieving emissions reductions to reach economywide net-zero emissions by 2050 will require sustained technological innovations and widespread deployment of emerging low-carbon technologies that are not yet commercially deployed on a mass-market scale. Tax credits are an important policy tool for supporting the early-stage deployment of emerging technologies as well as more mature technologies that have not yet reached widespread deployment. While existing federal tax credits have played an important role in enabling the deployment of several low-carbon technologies, including wind, solar, and electric vehicles, they also suffer from critical design deficiencies that make them less effective. This paper proposes six considerations for designing the next generation of federal tax credits that can support deployment of clean energy and low-carbon technologies in the U.S. power, transportation, industrial, and buildings sectors. Within each consideration, the paper lays out different approaches and discusses the tradeoffs between each.
This working paper identifies key climate policies and investments and estimates their emissions-reduction potential and associated costs, which can enable the United States to reduce economy-wide greenhouse gas (GHG) emissions by 50–52% compared to 2005 levels by 2030 and reach net-zero GHG emissions by midcentury, the goals set by the Biden administration.
This paper evaluates potential costs of implementing financial incentives for electric vehicles (EVs); specifically purchase subsidies and registration rebates offered in HCMC and the benefits related to individual savings and GHG emissions reductions. The analysis indicates that implementation could deliver net-positive benefits during the early stages of EV adoption in HCMC. Overall, the analysis shows that incentives to make EVs more cost-competitive, along with support for the deployment of charging stations, will be crucial for increasing EV adoption in HCMC.
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