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 it could be that 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 basic types: solutions that increase mitigation, and others that increase adaptation. Mitigation solutions reduce emissions of the carbon- based greenhouse gases that cause global warming. Adaptation solutions lessen the impacts of a changing climate. In both these areas, we have come a long way.

How much progress have we made? This is a question the International Energy Agency (IEA) asks in a 2023 report about what it would take to limit global warming to 1.5° Celsius. In its report, the IEA said we have the technologies to account for about 65% of the emissions reductions necessary to limit warming to that 1.5° C.¹

This is a major achievement. In 2021, the IEA released a similar report that said we had about 50% of the technology we would need to limit warming to 1.5° C. Going from 50% to 65% in just two years is an impressive jump.

Still, while getting 65% of the way is certainly something to celebrate, it’s not enough. To reach our goal, we’re going to need to develop new technologies and practices.

Let’s take a look at both the solutions we have and the innovations we need to reach our climate goals.

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 driven 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 fueled further expansion, creating a positive feedback loop of increasing adoption and decreasing prices. 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.

While some innovators have worked on the clean energy problem, others have found ways to adapt to a changing climate. Some of the best adaptation solutions are the simplest ones. Local authorities restore natural ecosystems, like wetlands and mangroves, to act as natural barriers against floods. These areas also act as carbon sinks that pull carbon dioxide out of the atmosphere. 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. In a world in which climate change can cause health problems, vaccines and high-quality healthcare are also increasingly important adaptation solutions.

The innovations we need

The fact that we already have so many solutions is wonderful, but on their own, these solutions aren’t enough to solve all our problems. We’re still going to need more innovation.

Climate innovation is the label we give to the research, development, and scaling of new climate solutions. Innovation is not just inventing new devices — it’s also about new approaches to 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 who are most vulnerable to the impacts of a changing climate. In general, these are people who had very little role in creating the problems of climate change in the first place. We need to develop a wide range of health and agricultural innovations so that those living in areas impacted by extreme drought, flooding, and severe weather have access to nutritious food and fresh water. Because climate change will alter rainfall levels and temperature in many areas, we’ll need to develop high-yield, drought- 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 to 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. Other industries, such as steel and cement production, release carbon dioxide as a by-product of the chemical reactions that are part of their processes. So, we’ll need to develop entirely new ways of making these products.

What’s next?

To speed up the pace of innovation, we need governments and companies to invest heavily in the research and development of new technologies. And to create markets for emerging innovations, we need governments, companies, and individuals who can afford it to commit to purchasing them—even if they are more expensive at first. This will drive demand, and ultimately lower prices for everyone.

But not all countries have the resources to invest in innovation. We’ll need grants and loans to support low- income 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. Countries like the US that have benefited the most from industrialization and that historically did the most to cause climate change, can ensure poorer countries are able to continue developing in a sustainable way.

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 impact everyone’s future.

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