How is KR 2.4 Tracking?
The global transition from fossil fuel power to clean energy power is a colossal challenge. It requires both supply and demand of fossil fuels to be cut at the same time.
The U.S. and Europe have already halted new installations for coal, the dirtiest fossil fuel. Now they need to do the same for new oil and natural gas plants.
Then the emphasis must shift to shutting down existing coal plants and phasing out natural gas as fast as we can while guaranteeing a reliable grid. To avoid impractical cost burdens, emerging economies may take longer to phase out fossil fuels.