Global | Climate tipping points

Sometimes we are not aware of the importance of the changes we are currently experiencing, either because they are happening too fast or too slow, or because we are just at a tipping point. This is the case with climate change.

Key points

• Key points:
• The sheer possibility of very severe climate scenarios, even with a low probability, demands a decisive turning point in mitigation policies, including those aimed at adapting to the physical effects that are already here.
• But while COP 27 was a breakthrough, it was not a real positive turning point in climate policy.
• There are key aspects of the transition to a decarbonized economy that are progressing more than linearly, such as increasing installed renewable energy capacity. It should not be forgotten that energy production accounted for almost one-fifth of all global emissions in 2019.
• The reliance on fossil fuels in a geopolitical scenario that is becoming fragmented by Russia's invasion of Ukraine and triggering an energy crisis means significantly and rapidly lowering the cost of the energy transition to a decarbonized economy. Perhaps more so than just good climate intentions.

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