As humanity faces record-breaking temperatures and rising seas, the explosive growth of renewable energy—where solar capacity soared by 22% and wind power neared 900 GW in 2022—proves that the sustainability industry isn't just a hopeful vision but a powerful, accelerating force reshaping our global economy and energy landscape.
Key Takeaways
- Global renewable energy capacity increased by 10.3% in 2022, reaching 3,372 GW
- Solar photovoltaic capacity grew by 22% in 2022 to 1,047 GW worldwide
- Wind power capacity reached 899 GW globally by end of 2022, with onshore dominating at 830 GW
- Global CO2 emissions from energy reached 36.8 Gt in 2022, up 0.9%
- Electricity and heat production caused 40% of energy-related CO2 emissions in 2022
- Transport sector emitted 8.3 Gt CO2 in 2022
- Global plastic waste generation 353 million tonnes in 2019
- Only 9% of plastic waste globally recycled as of 2019
- 19-23 million tonnes plastic enter oceans annually
- Global sustainable investment assets USD 35.3 trillion in 2022
- ESG assets under management grew 38% to USD 17.1 trillion in US 2022
- Green bonds issued USD 518 billion globally in 2022
- Global EV sales 10.2 million units in 2022, 35% growth
- Solar panel efficiency reached 25% for commercial modules in 2023
- Green hydrogen production cost fell to USD 3-6/kg in best projects 2022
Renewable energy is booming with record growth, falling costs and soaring investments globally.
Carbon Emissions and Climate Change
- Global CO2 emissions from energy reached 36.8 Gt in 2022, up 0.9%
- Electricity and heat production caused 40% of energy-related CO2 emissions in 2022
- Transport sector emitted 8.3 Gt CO2 in 2022
- Industry CO2 emissions at 9.9 Gt in 2022 globally
- China emitted 11.9 Gt CO2 in 2022, 32% of global total
- US CO2 emissions fell 0.8% to 4.7 Gt in 2022
- EU CO2 emissions dropped 2.5% in 2022 to 2.6 Gt
- India CO2 emissions rose 5.5% to 2.7 Gt in 2022
- Global methane emissions from energy sector 135 Mt in 2022
- 2023 was the hottest year on record with 1.48°C above pre-industrial levels
- Global surface temperature anomaly 1.19°C in 2022 per NASA
- Sea levels rose 101 mm since 1993, averaging 4.6 mm/year
- Arctic sea ice minimum 2023 was 4.23 million sq km, 7th lowest
- Antarctic sea ice hit record low 1.79 million sq km in Feb 2023
- Global glacier mass loss 267 Gt/year 2000-2023
- Ocean heat content increased by 436 ZJ from 1955-2022
- Atmospheric CO2 concentration 419 ppm in 2023
- Cumulative CO2 emissions to date 2390 GtCO2 since 1750
- Net zero by 2050 requires 45 GtCO2 cumulative reductions 2020-2050
- 1.5°C warming limit breached temporarily in 2023
- Fossil CO2 emissions share 89% of energy-related GHG in 2022
- Clean energy prevented 2.6 Gt CO2 emissions in 2023 vs 2007 levels
Carbon Emissions and Climate Change Interpretation
Despite achieving record-breaking temperatures that would make a sauna blush, humanity’s global carbon addiction stubbornly persists, as progress in some regions is still being outpaced by a rising tide of emissions elsewhere.
Green Technology and Innovation
- Global EV sales 10.2 million units in 2022, 35% growth
- Solar panel efficiency reached 25% for commercial modules in 2023
- Green hydrogen production cost fell to USD 3-6/kg in best projects 2022
- Carbon capture capacity 43 MtCO2/year operational globally 2023
- Battery energy density for EVs 300 Wh/kg average 2023
- Direct air capture plants 27 operational, capturing 0.01 MtCO2/year
- Smart grid investments USD 140 billion globally 2022
- 5G-enabled IoT devices for sustainability 1.4 billion by 2023
- Precision agriculture market USD 7 billion 2022, AI-driven
- Sustainable aviation fuel production 0.6 Mt 2023, target 17 Mt by 2030
- Long-duration energy storage pilots 100+ GW potential
- Blockchain for carbon credits traded 20 MtCO2e 2022
- 3D printing reduces material waste 90% in manufacturing
- AI optimizes energy use 10-40% in buildings
- Lab-grown meat production scaled to 10 tons/month 2023
- Nanotech water purification removes 99.99% contaminants
- Offshore wind turbines 15 MW capacity prototypes 2023
- Electric aircraft prototypes 20+ in development 2023
- Bioplastics production 2.2 million tonnes 2022
Green Technology and Innovation Interpretation
While the sobering math of direct air capture and sustainable aviation fuel proves we're still taking baby steps, the explosive growth in EVs, solar, and smart grids shows we've finally learned to sprint where it counts.
Renewable Energy
- Global renewable energy capacity increased by 10.3% in 2022, reaching 3,372 GW
- Solar photovoltaic capacity grew by 22% in 2022 to 1,047 GW worldwide
- Wind power capacity reached 899 GW globally by end of 2022, with onshore dominating at 830 GW
- Hydropower remains the largest renewable source at 1,296 GW in 2022
- Bioenergy capacity stood at 150 GW in 2022 globally
- China added 76 GW of renewables in 2022, more than half the global total
- Europe saw 32 GW of new renewable capacity in 2022, led by solar
- Renewables accounted for 82% of new power capacity added globally in 2022
- Costs of solar PV fell 89% between 2010 and 2022
- Onshore wind LCOE dropped 70% from 2010 to 2022
- Utility-scale solar PV achieved record low LCOE of USD 0.049/kWh in 2022
- Offshore wind LCOE averaged USD 0.081/kWh globally in 2022
- Renewables generated 29.4% of global electricity in 2022
- Global investment in renewables reached USD 495 billion in 2022
- Solar investments hit USD 273 billion in 2022
- Wind investments totaled USD 147 billion globally in 2022
- Battery storage capacity added 36 GW globally in 2022
- Green hydrogen projects reached 351 by end of 2022 with 38 GW electrolyser capacity announced
- Renewables met 90% of global electricity demand growth in 2022
- Floating solar capacity grew to 6 GW by 2022
- Geothermal capacity stood at 15.5 GW worldwide in 2022
- Concentrated solar power capacity reached 7.4 GW in 2022
- India added 11.3 GW renewables in 2022
- United States renewable capacity hit 389 GW by 2022
- Brazil's renewables at 170 GW, mostly hydro, in 2022
- Global solar PV module prices fell 31% in 2022
- Offshore wind capacity grew 16% to 35 GW in 2022
- Concentrating solar power added 0.7 GW in 2022
- Renewables share in electricity projected to reach 35% by 2025
- USD 1.7 trillion needed annually for net zero by 2030 in energy transition
Renewable Energy Interpretation
While the fossil fuel industry clings to its last-century playbook, the renewable revolution is frankly showing off, deploying cheaper, smarter technology at a breakneck pace and now powering almost all new electricity demand, yet this sprint still needs to turn into the marathon funding required to actually win the race against climate change.
Sustainable Finance and Investments
- Global sustainable investment assets USD 35.3 trillion in 2022
- ESG assets under management grew 38% to USD 17.1 trillion in US 2022
- Green bonds issued USD 518 billion globally in 2022
- Global sustainable funds inflows USD 510 billion in 2022 despite outflows in Q4
- Corporate sustainability-linked bonds USD 150 billion issued 2022
- Pension funds with ESG policies manage USD 20 trillion
- BlackRock ESG funds AUM USD 570 billion end 2022
- EU Taxonomy eligible assets EUR 2.3 trillion in banks 2022
- Global climate tech VC investment USD 25.2 billion in 2022
- Carbon market trading volume USD 851 billion in 2021, projected higher 2022
- Transition bonds issued USD 69 billion in 2022
- Sovereign green bonds USD 51 billion issued 2022
- Impact investing market USD 1.164 trillion AUM 2022
- Banks committed USD 4.1 trillion to net zero by 2050 via NZBA
- Insurers managing USD 30 trillion with climate risk integration
- Private equity sustainable investments USD 1.2 trillion 2022
- Global sukuk market USD 851 billion outstanding 2022, growing green segment
- Blended finance mobilized USD 52 billion private capital for SDGs 2018-2022
- Corporate net zero commitments cover USD 68 trillion revenue
- Green loans outstanding USD 100 billion 2022
- VC funding for cleantech USD 44 billion in 2021, dipped in 2022
Sustainable Finance and Investments Interpretation
While the massive influx of trillions of dollars into sustainable finance suggests the money is finally taking climate risk seriously, it also raises the sobering question of whether we are building a greener future or simply a more expensive and complex version of the same old system.
Waste and Recycling
- Global plastic waste generation 353 million tonnes in 2019
- Only 9% of plastic waste globally recycled as of 2019
- 19-23 million tonnes plastic enter oceans annually
- Global e-waste reached 62 million tonnes in 2022, up 82% since 2010
- Only 22.3% of e-waste formally recycled in 2022
- Food waste 1.05 billion tonnes/year, 19% of production
- Municipal solid waste generation 2.24 billion tonnes in 2020 globally
- Waste sector methane emissions 20% of global anthropogenic total
- Plastic packaging 40% of total plastics produced
- Global recycling rate for metals 50%, paper 58%, plastic <20%
- EU recycled 50.6% municipal waste in 2021
- US generated 292 million tons MSW in 2018, recycled/composted 32.1%
- China banned 24 waste types imports in 2018, diverting 111 million tons globally
- Organic waste 53% of global MSW in low-income countries
- Hazardous waste generation 400 million tons/year globally
- Battery recycling rate globally <5% for lithium-ion
- Global textile waste 92 million tonnes/year, 87% landfilled/incinerated
- Construction waste 40% of solid waste in Europe
- Single-use plastics 50% of plastic pollution in oceans
- Global circular economy material use USD 4.5 trillion potential
- Waste-to-energy capacity 600 GW thermal equivalent globally
Waste and Recycling Interpretation
We are a species of brilliant short-term convenience, architecting a world where 50% of what we build ends up as waste, 9% of our plastic finds renewal, and our oceans politely accept 23 million tonnes of it annually as a monument to our disposable genius.
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