10 Years on from the Paris Climate Agreement
By Ross Douglas
Next year marks the tenth anniversary of the Paris Climate Agreement, when the world agreed on a path to keep global warming within 1.5°c. But this year we will breach 1.5°C, which is quicker than most imagined. While global CO2 emissions continue to rise, they have at least peaked in China, thanks largely to increased solar installation, with 161 GW added in the first 9 months of 2024.
A Milestone and a Warning
Europe is warming faster than any other continent and maybe that’s why the EU is sticking to its decarbonization plan - Fit for 55 - which legislates for a 55% reduction in carbon emissions by 2030. But most importantly, half the world’s largest companies have committed to net zero emissions.
The transition is slower than hoped but we are now reaching a decarbonization tipping point, when a gradual buildup morphs into sudden change. As Bill Gates famously put it: “We always overestimate the change that will occur in the next two years and underestimate the change that will occur in the next ten. Don’t let yourself be lulled into inaction”.
China has shown that the integration of renewable energy and battery storage with electric and autonomous vehicles reduces costs and improves productivity. The rest of the world will follow China, because it makes such good business sense. Despite Trump’s promise to “drill baby drill” America too will integrate these technologies. After all, Trump’s “First Buddy” Elon Musk is heavily invested in them. Tesla’s Q3 2024 results show that automotive revenues grew only 2% year-on-year, while revenue from energy generation and storage jumped 52%, netting $2.4 billion in new revenue.
Europe: Leading in Policy, Lagging in Innovation
Meanwhile, Europe has been leading on legislation but has fallen behind on innovation. Northvolt’s bankruptcy is a watershed moment, signalling that Europe cannot catch up to China and America in a broad range of industries, including solar, batteries, EVs, autonomous vehicles, AI and aerospace. The EU simply lacks the funds to subsidize European companies to catch up in this broad range of technologies. Instead of trying to beat the best in these core technologies, expect European companies to partner with counterparts in China and America, staying in the race by leveraging their comparative advantage. The strategy: stay competitive through partnerships and look for the next big wave.
Partnering for Global Solutions
Autonomy has been in the European sustainable startup arena for a decade; we’ve seen how tough it has been. Our clients have mainly consolidated, closed or gone abroad as the reality of low demand and high cost takes its toll. Entrepreneurship is not easy at the best of times. Surviving now requires extreme determination and agility.
We believe that the only solution to global warming is global decarbonization and that means partnering with players from around the world. We are opening an office in Shenzhen to help European companies partner with leading Chinese greentech innovators.
Our customers want niche events that connect them to customers and partners outside of their usual ecosystem. So, we are doubling down on small curated summits that bring global companies together to discuss and partner on decarbonization solutions.
Upcoming Summits to Shape the Future
Global Decarbonization Summit
Our first Global Decarbonization Summit takes place on 18-19 March at the HQ of La Poste Groupe and will be opened by La Poste CEO, Philippe Wahl whose approach to decarbonization is to “we need to do it together”.
Recommended by LinkedIn
This year, the summit focuses on decarbonizing:
If you have unique insights into any of these topics please apply to speak here | pre-register here.
Green Energy Industry Summit
Our next summit is the Green Energy Industry Summit on 27 February in Shenzhen. Speakers from the following companies will be participating:
In addition to the summit, we are also leading a tour of Shenzhen battery storage companies, which will be ideal for those seeking out suppliers.
We will repeat the Global Decarbonization Summit in Shenzhen in early September, focusing on energy storage and management systems, and in London in late September, focusing on financing the decarbonization transition.
Decarbonization is about leapfrog technologies happening at scale. All too often, European startups focus on interim technologies that are bound to be disrupted: what’s the point of carshare in the age of robotaxis; and what’s the point of retrofitting combustion vehicles with battery packs by hand when robots make new EVs better, faster, cheaper? Autonomy will continue to focus on the big disruptive technologies of our time. The 3rd edition of our London AV Partnership Summit takes place at Woolwich Works on 10 July and will feature the world’s leading suppliers and buyers of AV technology.
Postponing GDE
We have decided to postpone the Global Decarbonization Expo until global politics settles: Germany has to elect a new chancellor, the French government has collapsed, and we need to give Trump 30 days in office to discover how his, and Musk’s, disruptions play out. It's going to be a bumpy ride but we are firmly committed to working with our clients on the road to decarbonization. A big thank you to the 25 000 subscribers of my weekly newsletter; I am grateful that we are all in this together.
CEO of Global Tech ♜ HLS | Defense | Automotive | Connecting StartUps & Fortune. Ask about our 𝐁𝐃-𝐚-𝐀𝐒 Solutions (Biz Dev as A Service)
4wRoss, your post captures the urgent reality of climate change with a touch of pragmatism that is both sobering and inspiring. It's intriguing how China's solar surge is not just a flicker but a potential pivot point in the global energy narrative. While Europe may be the legislator of the climate agenda, the chasm between policy and innovation is too wide not to address. Northvolt's slip is a wake-up call—we can't merely dream of a greener future; we must also hustle to build it. With partnerships as the lifeboat in this sea of uncertainty, I’m curious to see how Europe will leverage its strengths alongside the giants you mentioned. After all, as they say, teamwork makes the dream work—or in this case, the decarbonization work!