In the past year of 2024, we witnessed numerous events caused by climate change, including flash floods at Dubai Airport, flooding in various areas of Thailand, and wildfires in the United States. This has heightened awareness regarding sustainability and the need to address climate change, making sustainability a continuing trend into 2025.

COP29 and the Next Steps in Addressing Climate Change

The COP29 conference held in Baku, Azerbaijan, has concluded, resulting in some conclusions and guidelines for addressing the rising global temperatures. However, there are still many issues that require further resolution, such as climate finance. At COP29, an agreement was reached to increase funding to tackle the problem of rising global temperatures. Yet, there remains debate between developed and developing countries regarding support for mitigating the impacts of rising temperatures. Developed countries must assist developing nations in reducing greenhouse gas emissions, as over 75 percent of the emissions increase over the past decade has come from developing countries. The amount of funding needed to support developing countries is still a contentious issue, and with the arrival of a new president in the United States, the appropriateness of support from developed nations will continue to be a topic to watch.

Regarding the carbon trading market, COP29 agreed on developing a more standardized process for carbon credit trading. Establishing standards for the carbon credit market will help make carbon emission reductions more tangible. We can expect to see increased efforts to create a common standard for the carbon market.

The reduction of fossil fuel usage has not yet met targets in many countries, necessitating increased efforts in this area before COP30 in Brazil, where many countries will report their carbon reduction targets as outlined in their NDCs. This will likely lead to a push for greater reductions in fossil fuel usage across various nations.

Renewable Energy and the Growth of Solar Power

In the realm of clean energy, solar power is experiencing the highest growth. According to the International Energy Agency (IEA), it is projected that between 2023 and 2028, renewable energy will see a significant increase of 3,700 gigawatts. The IEA also anticipates that by 2025, renewable energy sources will surpass coal as the primary source of electricity generation. By 2028, 42 percent of global electricity production will come from renewable sources, particularly solar and wind energy, leading to increased installations of solar panels and investments in solar power.

Plant-Based Food Products

Livestock farming produces methane, one of the greenhouse gases that need to be reduced. The decrease in meat consumption presents an opportunity for the growth of plant-based food products, which are increasingly gaining popularity. A report from the National Restaurant Association (NRA) in the United States predicts that not only will plant-based protein alternatives become more popular, but plant-based dairy products, such as oat milk and various nut milks, will also see increased demand. Additionally, plant-based cheeses, such as cashew cheese and vegan cheese, are on the rise, and the issue of overfishing, which has led to declining fish populations, is driving growth in plant-based seafood consumption as well.

 

Sources

https://energydigital.com/top10/top-10-renewable-energy-sources-2024

https://totalfood.com/curating-plant-based-food-trends-growth-outlook-2025/

https://www.theccc.org.uk/publication/cop29-key-outcomes-and-next-steps-for-the-uk/