Introduction

The solutions to climate change are already all around us. You’re probably seeing more electric vehicles in your community. Maybe you’ve noticed solar panels on houses or wind turbines in the countryside. Or perhaps your local grocery store is stocking more plant-based meat substitutes.

These everyday solutions are evidence of the real progress we’re already making. They can be divided into two key types: solutions that increase mitigation, and those that aid adaptation. Mitigation solutions mitigate, or lessen, the climate change problem by reducing emissions of the carbon-based greenhouse gases that cause global warming. Adaptation solutions reduce the harm caused by a changing climate. They help us adapt to, or adjust to, our changed conditions. In both these areas, we have come a long way.

How much progress have we made? In 2023, the International Energy Agency (IEA) issued an important report. The report looks at the progress we have made in reaching the goal of limiting global warming to 1.5° Celsius. The IEA said we now have technologies that will allow us to cut around 65% of the emissions that must be cut in order to reach the 1.5° C goal.¹

This is a major achievement. In 2021, the IEA reported that we had only about 50% of the technology needed to limit warming to 1.5° C. Going from 50% to 65% in just two years is an impressive jump.

Still, 65% is not enough. To reach our goal, we’re going to need to develop new technologies and practices.

Let’s take a look at the climate solutions we have and the innovations we need.

The solutions we have

When it comes to reducing carbon emissions, perhaps the biggest achievement is the progress we’ve made toward generating renewable energy. Renewable energy is energy that comes from a source that cannot be used up, such as wind or the sun. The cost of renewable energy technologies like wind power and solar power has dropped dramatically in recent years. As the chart shows, the price of electricity from solar declined by 89% between 2009 and 2019. The price of electricity from wind declined by 70% over the same period. These drops in price were primarily caused by decreases in the cost of technology. As we began using more solar and wind systems, companies learned how to produce these systems more efficiently, and prices dropped. Lower prices led to more use of these systems, which in turn led to decreasing prices. Those decreasing prices then led to even more use. As a result, by 2019, 72% of all new electricity production capacity came from renewables. Solar is now the cheapest source of energy on the planet.

Other climate solutions have helped us adapt to a changing climate. Some of the best adaptation solutions are the simplest ones. Local authorities can restore natural ecosystems, like wetlands, to act as natural barriers against floods. Other solutions can be used to protect cities. For example, buildings, roads, and bridges can be designed to be more resistant to extreme weather. Smart city planning can make a difference too. Since climate change can cause health problems, vaccines and high-quality healthcare are also increasingly important adaptation solutions.

The innovations we need

It’s wonderful that we already have so many solutions. However, these solutions aren’t enough to solve all our problems. We’re still going to need more innovation.

The development of new climate solutions is known as climate innovation. This innovation is not just about inventing new devices. It’s also about new approaches to government policies, business models, and systems. Innovation means both new technologies and new ways of doing and thinking about things.

What should the goals of innovation be? To start, we need to protect those whom climate change is putting at the greatest risk. In general, these are people who had very little role in creating the problems of climate change in the first place. We need to make sure that those who live in areas experiencing extreme drought, flooding, and severe weather have enough food and fresh water. This will require a wide range of health and agricultural innovations. Because climate change will alter rainfall levels and temperature in many areas, we’ll need to develop high-yield, drought-resistant, and flood-resistant crops. These plants must be well-suited to the specific regions in which they’re grown.

We also need to develop new technologies that will reduce the amount of carbon being released into the atmosphere. The process of replacing carbon-based energy with other sources of energy is known as decarbonization. Electric cars are one solution, but they are not enough. Hydrogen fuel and advanced biofuels are needed to decarbonize industries that can’t yet run on electricity, such as long-distance trucking and aviation. Steel production and cement production are also major problems. When steel and cement are manufactured, carbon dioxide is released as a by-product of the chemical reactions that are part of the manufacturing process. So, we’ll need to develop entirely new ways of making these products.

What’s next?

To speed up the pace of innovation, governments and companies must spend heavily on research and on developing new technologies. And when innovative new products become available, governments and companies must buy them—even if they are more expensive at first. This will increase demand for the products. And that in turn will ultimately lower prices for everyone.

But not all countries can afford to pay for innovation. We’ll need grants and loans to support poorer countries as they work to adapt to climate change and decarbonize their economies. Wealthy countries, in particular, have a responsibility to support adaptation efforts and disaster-relief funds in low-income countries. Wealthy countries like the US benefited the most from industrialization and historically did the most to cause climate change. They must ensure that poorer countries are able to continue developing in a sustainable way that doesn’t use up resources or cause more problems.

To ensure the health and well-being of everyone, we need to equally value adaptation and mitigation efforts, and we need to make wise decisions. Our actions now will affect everyone’s future.

1 IEA (2021), Net Zero by 2050, IEA, Paris. https://www.iea.org/reports/net-zero-by-2050