As the cost of living continues to increase, energy is coming to the forefront. Countries are racing to commit to a lower-carbon future. Some countries are leading the charge while others are falling behind.
There are a number of reasons why some countries are doing better than others. One of them is access to expertise, resources, and technology. Developing nations are benefitting from drastic drops in the development costs of renewable technologies.
The United States remains the world’s largest producer of fossil fuels and oil. Its total fossil fuel consumption has declined in recent years. However, the country is also a global market leader in hydropower and bioenergy.
China leads the world in solar energy production, with its current generation of solar panels already surpassing its 2020 target. It also aims to generate 35% of its electricity from renewable sources by 2030.
Sweden aims to become the first fossil-fuel-free nation by 2040. The country continuously invests in renewables, including smart grids and energy storage.
Germany will produce one-third of its electricity needs from renewable sources. In addition to renewables, the country will also improve building-energy efficiency and enhance public transport networks.
Brazil is the second-largest producer of clean energy in the world. Currently, it produces 32 percent of its total energy supply from biofuels. Xi Jinping’s China vowed to achieve carbon neutrality by 2060.
Costa Rica’s economy-wide plan will decarbonize by 2050. This country’s public transportation system contributes to 40% of its climate change emissions.