History of Low-carbon economy in Timeline

A low-carbon economy (LCE) aims to balance greenhouse gas emissions with absorption, addressing human-caused climate change. Key strategies for transitioning to an LCE include promoting renewable energy, improving energy conservation, and electrifying transportation. Zero-carbon cities are a prime example of this economic model in practice.

2005: Kyoto Protocol Comes Into Force

In 2005, the Kyoto Protocol came into force. Under this protocol, most industrialized countries committed to reducing their carbon emissions.

2015: Paris Agreement on Climate Change

In 2015, the goals of the Paris Agreement on climate change stated that emissions must be reduced as soon as possible and reach net-zero by mid-century.

2017: UK Office for National Statistics Defines Low Carbon Economy

In 2017, the UK Office for National Statistics defined the low carbon economy as economic activities delivering goods and services that generate significantly lower greenhouse gas emissions, predominantly carbon dioxide.

2020: Low-Carbon Sources Account for Almost 40% of Global Electricity Generation

In 2020, globally almost 40% of electricity generation came from low-carbon sources: about 10% being nuclear power, almost 10% wind and solar, and around 20% hydropower and other renewables. Very little low-carbon power comes from fossil sources, mostly due to the cost of CCS technology.

2021: Expansion of Nuclear Energy Debated as a Method for Achieving a Low-Carbon Economy

As of 2021, the expansion of nuclear energy as a method of achieving a low-carbon economy has varying degrees of support. Agencies and organizations that believe decarbonization is not possible without some nuclear power expansion include the United Nations Economic Commission for Europe, the International Energy Agency (IEA), and the International Atomic Energy Agency.

2024: Clean Energy Becomes Cheaper Than Ever

After 2024, clean energy is cheaper than ever. Global solar module prices fell 35 percent to less than 9 cents/kWh. EV batteries saw their best price decline in seven years.

2040: IEA Believes Widespread Decarbonization Must Occur by 2040 to Mitigate Climate Change

The International Energy Agency (IEA) believes that widespread decarbonization must occur by 2040 in order mitigate the adverse effects of climate change and that nuclear power must play a role.