Search Climate Insights Directory

Climate change is extending the U.S. allergy season through warming temperatures and increased CO2, which stimulate allergen production and lengthen the freeze-free growing season. These trends increase health risks, particularly for asthma sufferers, and contribute to significant economic costs. The document highlights regional variations, the role of 'thunderstorm asthma,' and the disproportionate impact on low-income and minority communities.

An analysis of 215 U.S. locations reveals that 84% have experienced a long-term decrease in winter chill since 1980. This trend threatens the $27 billion U.S. non-citrus fruit and nut industry, as many temperate trees require sustained cold temperatures to ensure proper flowering, pollination, and fruit yield. The study highlights significant chill decreases in key producing regions, particularly in California, Washington, and the Southeast, affecting high-value crops such as grapes, almonds, and strawberries.

As of September 2022, there are 13,053 committed electric school buses in the US, spanning 483 school districts across 39 states. California leads adoption, and the largest funding source is California's Hybrid and Zero-Emission Truck and Bus Voucher Incentive Program. While adoption is high in areas with significant air pollution and among communities of color, the highest number of buses are concentrated in districts with the lowest percentages of low-income households.

The report finds that U.S. solar and wind capacity grew to over 238 GW in 2022, generating 683,130 GWh of electricity. Texas and California emerged as the primary drivers of this growth, with Texas leading in wind capacity and generation, and California leading in solar generation. While historical growth rates might leave the U.S. short of 2030 benchmarks set by the Net-Zero America project, the report suggests that the Inflation Reduction Act of 2022 provides the necessary incentives to accelerate the transition toward the 2050 net-zero goal.

In 2022, China experienced a dramatic surge in coal power project activity, permitting 106 GW of new capacity—the highest level since 2015. While 50 GW started construction, representing six times the capacity of the rest of the world combined, the trend is driven by rising peak electricity loads and a rigid grid paradigm. Despite claims that new plants are for "supporting" grid stability, evidence suggests they are intended for baseload use. This expansion occurs alongside record clean energy additions, but risks undermining China's carbon neutrality goals if it leads to a moderation of clean energy buildout or increased CO2 emissions.

In 2022, private equity healthcare investments in the US remained high, with 125 buyouts and 503 add-on acquisitions. Outpatient care, medtech, and health IT were the most active categories. The report highlights risks associated with the private equity model, such as cost-cutting and high debt, which may negatively impact patient care and increase prices. It recommends expanding federal and state pre-merger reviews for all private equity-backed healthcare transactions.

In 2022, the EU electricity mix was led by nuclear (22%), gas (20%), coal (16%), and wind (15%), with solar accounting for 7.3%. While solar and wind continued their long-term growth trends, nuclear and hydro experienced significant declines due to plant closures and drought. Coal saw a temporary increase to offset these losses, while gas remained the only fossil fuel to show growth over the last two decades.

In 2022, wind and solar generated a record 22% of EU electricity, overtaking fossil gas (20%). Despite this, EU power sector emissions rose by 3.9% due to a 185 TWh generation gap caused by a severe drought affecting hydro power and unexpected French nuclear outages. This gap was partially filled by a 7% increase in coal generation. However, electricity demand fell by 7.9% in Q4 2022, and coal generation declined in the final four months of the year. Ember projects a 20% plummet in EU fossil generation in 2023 as hydro and nuclear capacity recover and renewable deployment accelerates.

In 2022, EU electricity demand fell by 2.7% to 2809 TWh, driven by mild weather and demand reduction measures. Despite this, power sector CO2 emissions rose by 3.9% due to shortfalls in nuclear and hydro generation, which necessitated increased fossil fuel use. Wind and solar generation continued to grow, reaching a 22% market share, while nuclear generation fell to its lowest share in 40 years at 22%.

In 2022, the EU experienced a temporary 7% rise in coal generation driven by shortfalls in nuclear and hydro power, rather than a structural 'return to coal'. This was offset by a record surge in solar capacity and a significant 7.9% drop in electricity demand in Q4 2022. Solar power generated 7.3% of EU electricity, avoiding approximately 249 billion in gas import costs. Looking ahead to 2023, the report forecasts a potential 20% plummet in fossil fuel generation as French nuclear capacity returns and renewable capacity continues to grow.

Since 1970, 204 U.S. locations have seen a decrease in annual freezing nights, with an average reduction of 13 nights. Warming has been most rapid during winter and at night, with nighttime lows warming 25% faster than daytime highs since 1900. Projections indicate that by 2040, every state in the contiguous U.S. and Alaska will experience a drop in below-freezing days under a medium-high emissions scenario, with 23 states potentially seeing three to four fewer weeks of freezing days by mid-century. While this may reduce heating costs and cold-exposure risks, it threatens snow-fed water supplies, winter recreation economies, and fruit crop yields.

The briefing outlines six trends for financial institutions in 2023: the rise of short-term transition plans, political backlash against ESG investing, the growth of renewables over plateauing fossil fuels, the need for climate upskilling of employees, increased regulatory scrutiny on greenwashing, and the shift toward using transition-relevant data for portfolio steering.

In 2022, the U.S. experienced 18 billion-dollar weather and climate disasters causing $165 billion in damages and 474 deaths, with Hurricane Ian being the costliest hurricane on record. The year was the 18th hottest on record for the U.S., with 73% of analyzed locations experiencing warmer-than-normal temperatures. These events are part of a longer warming trend, with 98% of analyzed U.S. locations showing increased average annual temperatures from 1970 to 2021. Meanwhile, U.S. fossil fuel emissions increased by 1.5% in 2022, though the Inflation Reduction Act is expected to help double annual wind and solar PV capacity additions by 2027 compared to 2021.

The report argues that current global economic responses to COVID-19, the war in Ukraine, and the climate crisis have been too focused on short-term stabilisation and stimulus rather than long-term structural reform. It highlights that only 18% of the USD 14.6tn allocated to COVID-19 recovery in 2020 was green spending, and that such investments have been concentrated in wealthier nations and focused primarily on decarbonisation. The authors advocate for a 'systems mind-set' that integrates circular economy principles, nature-based solutions, and just transition policies. Key recommendations include the use of debt-for-nature swaps, increased multilateral funding for the Global South, and the implementation of a 'Green Structural Recovery Menu' featuring fiscal reforms and the phasing out of fossil fuel subsidies.

Global investments in energy transition technologies reached a record USD 1.3 trillion in 2022, yet this remains insufficient to meet climate goals, with annual needs estimated at over USD 5 trillion. While renewable energy investments are growing, they are heavily concentrated in a few regions—primarily East Asia and the Pacific—and specific technologies like solar PV and wind. Conversely, fossil fuel investments continue to rise, and subsidies remain high, particularly in Europe and the MENA region. The report emphasizes the need for a fundamental shift in financing for the Global South, calling for more innovative public finance instruments, the mobilization of institutional capital, and a transition away from fossil fuel funding to ensure a just and inclusive energy transition.

Global energy transition investments reached a record USD 1.3 trillion in 2022, but this is less than one-third of the annual USD 5 trillion needed to meet the 1.5°C Scenario. While renewable energy investments grew to nearly USD 0.5 trillion in 2022, they remain heavily concentrated in solar and wind technologies and a few regions, primarily East Asia and Pacific. Developing and emerging markets receive a disproportionately small share of finance; for example, Sub-Saharan Africa received less than 1.5% of global investments between 2000 and 2020. The report emphasizes that private capital prioritizes low-risk, commercially viable projects, leaving a critical gap in less mature technologies and high-risk regions. It argues for a fundamental shift in public financing, moving beyond simple de-risking to provide more grants, concessional loans, and innovative instruments like local currency lending and green bonds to ensure a just and inclusive transition.

The report finds that while global climate finance reached USD 1.3 trillion in 2021–2022, adaptation finance is diminishing in relative importance, accounting for only 5% of total flows. Developing countries face a significant funding gap, needing approximately USD 212 billion annually by 2030. In Africa, adaptation finance grew modestly by 14% to USD 13 billion annually, yet remains far below the estimated need of USD 53 billion per year. The analysis highlights an over-reliance on debt as the primary financial instrument and a critical lack of robust, adaptation-specific commitments from public financial institutions. Furthermore, it reveals a disconnect between adaptation finance and humanitarian aid, noting that the most fragile African states depend on emergency response funding because they struggle to access proactive adaptation finance.

The report finds that dedicated outdoor air quality funding is critically low, representing less than 1% of total international development commitments. While there is a significant pool of funding with air quality co-benefits, the report argues for more explicit intentionality in project design. It highlights a geographic concentration of funds in Asia and a lack of investment in Africa. The document also notes a positive trend where funding for air quality projects exceeded fossil fuel-prolonging projects for the first time in 2021.

The 2023 Forest Declaration Assessment executive summary reports that global gross deforestation in 2022 exceeded the trajectory required to eliminate deforestation by 2030, despite progress in over 50 countries and specific reductions in Indonesia and Malaysia.

The report finds that while global coal capacity is increasingly subject to carbon neutrality targets, a significant gap remains between current phase-out rates and Paris Agreement goals. China is the primary driver of new coal capacity, while the US leads in retirements. In Indonesia, the Just Energy Transition Partnership (JETP) provides a $20 billion financial commitment to accelerate the electricity sector's emission peak to 2030, though 'captive' coal plants for industrial use remain a significant challenge.