Francesco La Camera

A flurry of summits this week across Dubai addressed the threat of climate change, or at least acknowledged that a pivot away from fossil fuels toward cleaner sources of power is needed to keep temperatures from rising.

The world must take “radical action” by investing $5.7 trillion in private and public money each year through 2030 to shift away from fossil fuels and ensure the planetary warming they cause doesn’t pass dangerous thresholds, the International Renewable Energy Agency says.

Almost two-thirds of wind and solar projects built globally last year will be able to generate cheaper electricity than even the world’s cheapest new coal plants, according to a report from the International Renewable Energy Agency.

The short-term prospects for wind and solar power look rocky amid the economic upheaval of the coronavirus. But long term, renewables could emerge stronger than ever, especially if governments integrate support for clean energy into Covid-19 economic-recovery programs.