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Sources

Sources

01

01 Year in Focus

Fig. 1
Temperature rising Our World in Data
Fig. 2
In the greenhouse Global Carbon Budget 2022 (Friedlingstein et al., 2022b, Earth System Science Data)
Fig. 3
The emissions gap Climate Action Tracker
Fig. 4
China in charge IEA (2023), The State of Clean Technology Manufacturing
Fig. 5
Fuel imports from Russia in 2023 2023 Russia Fossil Tracker by Centre for Research on Energy and Clean Air, accessed Aug 31, 2023
Fig. 6
Wind and politics in America U.S. Energy Information Administration
Fig. 7
Birth of an industry Atlas EV Hub

02

02 Power

Fig. 8
Growth of wind and solar Annual Electricity Data, Ember
Fig. 9
Diverging Ember
Fig. 10
Clean power, dirty power Energy Institute 72nd edition Statistical Review of World Energy 2023
Fig. 11
Electricity emissions Ember
Fig. 12
Wind power capacity, China vs US Energy Institute 72nd edition Statistical Review of World Energy 2023
Fig. 13
Solar power capacity, China vs US Energy Institute 72nd edition Statistical Review of World Energy 2023
Fig. 14
The latest coal boom in China Global Coal Plant Tracker, Global Energy Monitor, July 2023 release
Fig. 15
The big clean-up Ember
Fig. 16
Rising backlog Lawrence Berkeley National Laboratory

03

03 Transportation

Fig. 17
Cars with plugs take off IEA (2023), Global EV Data Explorer, IEA, Paris
Fig. 18
Car chargers start to appear IEA (2023), Global EV Data Explorer, IEA, Paris
Fig. 19
Oil displacement from vehicle electrification BloombergNEF Electric Vehicle Outlook 2023
Fig. 20
Global oil consumption, 1965 – 2022 Statistical Review of World Energy 2023
Fig. 21
Lithium carbonate price Bloomberg
Fig. 22
Metals we mined in 2022, in kilotonnes U.S. Geological Survey Mineral Commodity Summaries 2023
Fig. 23
Transport emissions, 2022 EA (2023), Greenhouse Gas Emissions from Energy
Fig. 24
Emissions per passenger kilometre Conversion Factors. UK Government, Department for Business, Energy & Industrial Strategy

04

04 Buildings

Fig. 25
Building emissions IEA, Generation analysis
Fig. 26
Worldwide deployment of solar water heating IEA Solar Heating & Cooling Programme, Solar Heat Worldwide 2023
Fig. 27
Lifecycle building emissions WBCSD, ARUP, Net-zero buildings: Halving construction emissions today
Fig. 28
Smart policy matters: the impact of policy change on energy efficiency uptake in the UK Carbon Brief and the UK Climate Change Committee
Fig. 29
German heat pump sales Bundesverband Wärmepumpe (BWP) e.V.
Fig. 30
German monthly household gas demand Bruegel European natural gas demand tracker
Fig. 31
LED share of global residential lighting sales IEA, Global residential lighting sales share by technology in the Net Zero Scenario, 2010 – 2030, IEA, Paris

05

05 Industry

Fig. 32
Emissions of hard-to-abate sectors World Resources Institute
Fig. 33
Status of clean hydrogen projects worldwide IEA Hydrogen Projects Database, October 2022
Fig. 34
Annual CO₂ emissions from cement, 1925 – 2021 Our World in Data
Fig. 35
Rising interest in carbon capture Global CCS Institute 2022 Status Report
Fig. 36
Status of carbon capture projects worldwide IEA CCUS Projects Database, March 2023
Fig. 37
World plastics production, 2021 Plastics Europe, ​“Plastics – the Facts 2022”, October 2022
Fig. 38
Plastic into oceans Meijer LJJ, van Emmerik T, van der Ent R, Schmidt C, Lebreton L. More than 1000 rivers account for 80% of global riverine plastic emissions into the ocean. Science Advances 2021 Apr 30;7(18):eaaz5803. doi: 10.1126/sciadv.aaz5803. PMID: 33931460; PMCID: PMC8087412
Fig. 39
Fate of plastic waste OECD Global Plastics Outlook — plastics waste by region

06

06 Land & Food

Fig. 40
National commitments to land protection The World Bank
Fig. 41
Forest loss in the Amazon Global Forest Watch
Fig. 42
Forest loss in the Congo Basin Global Forest Watch
Fig. 43
Forest loss in Southeast Asia Global Forest Watch
Fig. 44
Why forests are lost Curtis, P.G., C.M. Slay, N.L. Harris, A. Tyukavina, and M.C. Hansen. 2018. ​“Classifying Drivers of Global Forest Loss.” Science. Accessed through Global Forest Watch on 23/08/23. www​.glob​al​forest​watch​.org.
Fig. 45
Greenhouse implications of dietary choices Our World in Data
Fig. 46
Investment in plant-based meat alternatives Good Food Institute

07

07 Financing the Transition

Fig. 47
Clean vs dirty IEA (2023), World Energy Investment 2023, IEA, Paris
Fig. 48
Historical and required investments IEA, Generation analysis
Fig. 49
Global fossil-fuel subsidies Black, Simon, Antung Liu, Ian Parry, and Nate Vernon, 2023. ​“IMF Fossil Fuel Subsidies Data: 2023 Update.” Working paper, IMF, Washngton, DC.

08

08 Looking Ahead

Fig. 50
Running away Temperature anomaly data are from JRA-55, the 55-year Japanese reanalysis product. Analytical code courtesy of Zeke Hausfather, Berkeley Earth
Fig. 51
China is catching up Washington Post, ​“The United States has caused the most global warming. When will China pass it?”, March 1, 2023
Fig. 52
Climate finance delivered from richer to poorer countries OECD (2022), Aggregate Trends of Climate Finance Provided and Mobilised by Developed Countries in 2013 – 2020

Acknowledgements

Generation and Just Climate would like to thank our partners at Applied Works, one of London’s great digital design firms, for their hard work under deadline in helping us to compile this report and present it in a readable form. Mandy Doran, Joe Sharpe, Callum Strachan, Richard Males and Radhita Jain provided invaluable assistance. We thank Rebecca Keys for proofreading the manuscripts.

We also thank the organizations whose work and data sets we drew on heavily, including Ember, the International Energy Agency, Our World in Data, Bloomberg New Energy Finance, the Intergovernmental Panel on Climate Change, Climate Trace, the Energy Institute and others. We thank the Global Carbon Project for its annual Global Carbon Budget, including the modeling groups around the world that contribute to that invaluable series of reports. At the IEA, we especially thank Curtis Brainard and Jon Custer for help locating data from the vast archives of that organization, so indispensable to understanding the world energy landscape. At Ember, we thank Matt Ewen for tolerating so many queries. We thank WindEurope for its close tracking and intelligent commentary in regard to the energy situation in Europe.

Critiques and errata notices are most welcome and can be sent to str@​generationim.​com

Important information

This report has been prepared by Generation Investment Management LLP (‘Generation’) for discussion purposes only and reflects the views of Generation as at September 2023. It is not to be reproduced or copied or made available to others without the consent of Generation.

The information presented herein is based on Generation’s analysis of publicly available data, is intended to present a global perspective on different areas that Generation believes represent a sustainable economy and should not be construed as investment research, advice or the making of any recommendation. References to any companies must not be construed as a recommendation to buy securities of such companies.

The jurisdictions and time periods presented herein may vary, as the data shown is what Generation used in its own assessment and believes to be the most complete view to support each identified area of sustainability and the associated trends. 2023 and other historic estimates made throughout the report were extrapolated from cited research and based on previous trends and known current data.

While the data is from sources Generation believes to be reliable, Generation makes no representation as to the completeness or accuracy of the data. Generation shall not be responsible for amending, correcting, or updating any information or opinions contained herein, and we accept no liability for loss arising from the use of the information presented herein.