To achieve the target of limiting global warming to below 2 degrees Celsius above pre-industrial times, countries and blocs of nations like the European Union should pursue three strategic thrusts. First, complete decarbonization of electricity generation as well as of the heating and cooling of buildings. Secondly, a substantial decarbonisation of industrial processes and transport. And lastly a greening of agriculture, forestry and landscape management. This third thrust not only reduces emissions, but also helps adaptation to climate change.
There are a plethora of innovations and new technologies that support these three thrusts. Many of them are now widely used, most often in electricity generation. In 2013 investments in renewable energies exceeded that in coal, oil or gas-fired plants. According to Bloomberg, in 2014 emerging economies for the first time, surpassed the members of the Organizations for Economic Cooperation and Development in the installed capacity for renewable energy.
In other industries, progress is much more modest, in spite of various Clean-Tech programs. The reduction of emissions by the Western world has been due to the massive relocation of heavy industries from OECD countries to emerging markets, especially to China. The transportation sector lags far behind — improvements in energy efficiency of engines is far from compensating the rapid growth of motorized transport.