The Paris Agreement is working. Now it must work faster

The We Mean Business Coalition asserts that the Paris Agreement has created a shared global framework that made climate policy investible, leading to a surge in clean energy investment and the growth of renewables. Despite progress, such as renewables supplying nearly a third of global electricity and clean-energy investment surpassing $2 trillion in 2024, the document warns that overall ambition remains insufficient. It calls for governments to redirect fossil-fuel subsidies toward clean investment, reform energy markets, and deliver more credible Nationally Determined Contributions (NDCs) by COP30 to ensure a stable economic and climatic future.

• The Paris Agreement established a global framework that enabled climate policy to attract investment, leading to trillions in capital and the alignment of thousands of companies with science-based targets.
• The clean energy transition has seen significant growth: renewables now provide nearly one-third of global electricity, and global clean-energy investment exceeded $2 trillion in 2024, which is double the investment in fossil fuels.
• Solar and onshore wind are now cheaper than fossil fuels by 53% and 41% respectively, and electric vehicle sales grew from approximately 500,000 in 2015 to over 17 million in 2024.
• Climate-driven extreme heat in Europe caused losses exceeding 43 billion euros last year, with projections suggesting these costs will reach 126 billion euros by 2029.
• To accelerate the transition, the document recommends redirecting a portion of the $1 trillion spent annually on fossil-fuel subsidies toward clean investment and implementing carbon pricing and targeted tax incentives.

APA

Clandillon, S. (2025). The Paris Agreement is working. Now it must work faster. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/the-paris-agreement-is-working-now-it-must-work-faster/

Chicago

Clandillon, Susan. The Paris Agreement is working. Now it must work faster. We Mean Business Coalition, 2025. https://www.wemeanbusinesscoalition.org/blog/the-paris-agreement-is-working-now-it-must-work-faster/.

Wikipedia

{{cite press release |last1=Clandillon |first1=Susan |title=The Paris Agreement is working. Now it must work faster |publisher=We Mean Business Coalition |date=31 October 2025 |url=https://www.wemeanbusinesscoalition.org/blog/the-paris-agreement-is-working-now-it-must-work-faster/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{clandillon2025paris, author = {Clandillon, Susan}, title = {{The Paris Agreement is working. Now it must work faster}}, publisher = {We Mean Business Coalition}, year = {2025}, month = oct, url = {https://www.wemeanbusinesscoalition.org/blog/the-paris-agreement-is-working-now-it-must-work-faster/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }