Global | Three paths to decarbonization

Summary

The question is not whether the world will decarbonize, but whether it will be achieved efficiently and in time to mitigate climate change.

Key points

• Key points:
• In 2024, renewable energy sources accounted for 5.5% of the total global energy supply (8.2% when hydroelectric power is included), more than twice as much as 10 years ago, with sustained or accelerating increases (Energy Institute data).
• In 2025, the decoupling of the US, China, and Europe in their decarbonization strategies has become more evident, with each region taking an imperfect approach in terms of objectives or implementation.
• In the US, the federal government wants to repeal legislation pushing for decarbonization. China dominates global value chains at the expense of sacrificing profitability, while Europe seeks to leverage sustainability as both a driver of competitiveness and a means of strategic autonomy.
• Deploying in the long term the massive investment necessary to decarbonize, public and above all private, requires public policies with consistent signals and certainty that align the decisions of companies, investors and civil society. Maintaining three strategies doesn't help.

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