Toronto, Ontario — According to the State of Climate Action 2023 report, global efforts to reach net-zero carbon emissions are failing in almost every way with one exception: the rise in electric vehicles.
The State of Climate Action 2023 report is made by the Bezos Earth fund in tandem with other non-profits and collectively, these groups assessed 42 different measures key for the world hitting net-zero emissions by 2050.
The study reveals that six areas of the global economy are not meeting expectations and these include factors such as the need to phase out government financing of fossil fuels, the need to make steel production greener and the need to reduce the share of singer passenger car journeys.
Of these factors, electric vehicle sales are the only area moving at the right speed to reach 2030 targets. Specifically, the report notes that the share of light duty EVs grew globally from 1.6 percent in 2018 to 10 percent in 2022 (an annual growth rate of 65 percent).
While EV technology needs to continue to improve in the public sector in the form of public transportation and growth needs to extend to developing countries, the report also notes that “rapid, nonlinear change is not only possible but already underway in some sectors.”
For more information, and to check out the report in greater detail, click here.
