1.
3+ Years of Pandemic
Photo: REUTERS/Alamy Stock Photo
• 650+ million confirmed cases
• 13 billion vaccine doses administered

2.
Runaway Inflation
Photo: Anna Kaminova/Unsplash
9% global inflation in 2022

3.
Russia’s Invasion of Ukraine Shocked the World
Photo: Ukrinform/Alamy Stock Photo
• 17,000+ civilian casualties
• 12+ million displaced

4.
Triggered a Global Energy Crisis
Photo: frans lemmens/Alamy Stock Photo
70 million people globally
at risk of losing electricity

5.
And Accelerated a Food Crisis
Photo: Larina Elena/Alamy Stock Photo
Global food prices surged
14.3% in 2022
22 million people at risk of
starvation in the Horn of
Africa

6.
Climate Change Was a Threat Multiplier
Photo: Muhammed Furqan/Alamy Stock Photo
Floods decreased Pakistan’s projected
GDP growth from 5% to 2%

7.
Setback for Poverty Reduction
Photo: matthieu cattin/Alamy Stock Photo
Up to 95 million people pushed
into poverty in 2022

8.
2022 was a difficult year,
but it wasn’t all bad

9.
Record-breaking investment in renewable energy
8% increase in global renewable energy
capacity in 2022
Photo: Shutterstock

10.
Increasing Recognition of the Value of Nature
Photo: Xinhua/Alamy Stock Photo
Countries committed to conserve
30% of the world’s land, water
and ocean by 2030.

11.
Breakthrough in Solidarity among Countries
Photo: UNFCCC

12.
Momentum for Just Transition
Photo: Andia/Alamy Stock Photo
$20 billion package for
just energy transition in
Indonesia
The U.S. passed 3 major laws
to green its economy with equity
at the center

13.
Will these breakthroughs lead to the
systemic shifts the world needs?

14.
Russia Invades Ukraine: Energy Weaponized
Source: Eurostat
~40% of Europe’s
natural gas supply
was from Russia

15.
Energy Crisis Impacts on
People and Industry
• Annual energy prices in Europe
spiked to 41.5% in October 2022
• Energy prices raised cost of living by
7% in 2022 compared to 2021
Photo: SOPA Images Limited/Alamy Stock Photo

16.
Photo: dpa picture alliance/Alamy Stock Photo.
• EU Council agrees to reduce natural gas demand
• Europe secures more LNG
• Some countries expand coal and nuclear energy production
Short-term Response: Keeping the Lights On

17.
Russian Pipeline Gas Replaced by Liquified Natural
Gas (LNG) Imports
Source: Refinitiv
•

18.
The Danger of a Natural Gas Trap
Photo: ZUMA Press, Inc./Alamy Stock Photo
Risks:
• Future overcapacity
• Stranded infrastructure
• Fossil fuel path dependency

19.
Risk of Missing 1.5° Warming Goal
Source: Climate Action Tracker

20.
Energy at a Crossroads
“Government responses
around the world promise to
make this a historic and
definitive turning point
towards a cleaner, more
affordable and more secure
energy system.”
- Dr. Fatih Birol, Executive
Director of the IEA
Photo: Franz Perc/Alamy Stock Photo

21.
The Question:
Will the crisis in Europe spur
a global shift to a low-carbon
energy future?

22.
Solidarity in Europe?
“The best response and
support we as the
European Union can give
is European solidarity and
European unity.”
- Roberta Metsola,
President of the European Parliament

23.
Will Europe meet its energy transition targets?
Source: European Commission

24.
Will consumers
continue to change
behavior?
Heat pumps could
reduce global CO2
emissions by at least
500M tonnes in 2030
Photo: dpa picture alliance/Alamy Stock Photo

25.
Will European voters
prioritize clean energy?
83% of people in the EU
think that Russia’s
invasion makes it more
urgent to invest in
renewable energy
Photo: Xinhua/Alamy Stock Photo

26.
How will Europe’s energy choices impact the world?
Photo: REUTERS/Alamy Stock Photo.
• China
• India
• Africa

27.
Return of President Lula Sparks Hope
Photo: dpa picture alliance/Alamy Stock Photo

28.
High Expectations for Brazil’s Forests
Source: Brazil’s National Institute for Space Research. Note: 2022 data is through 11/30/22.

29.
Lula Takes Action
on Day 1
• Appointed Marina Silva
& Sônia Guajajara as
ministers
• Reinstated an array of
anti-deforestation policies.
• Reopened the Amazon Fund.
• Revoked permission for
mining in protected areas.
• Revitalized civil society
participation.
Photo: Foto Arena LTDA/Alamy Stock Photo

30.
Beyond Brazil
• Amazon Basin is
6.8 million km2 ≈
the size of continental US
• Includes 9 countries
Source: GFW

31.
Beyond the Amazon: Big 3 Remaining Tropical Forests

32.
Beyond the Amazon: Big 3 Remaining Tropical Forests
Source: GFW
Tropical tree cover lost in 2021
= 11 million hectares

33.
Amazon Is Critical for
People, Nature and
Climate
Photo: Patricio Gaibor
• 47 million people
• 10% of biodiversity
• Up to 140 billion
metric tons of carbon
stored

34.
… and the Economy
“Let’s prove once again that
it is possible to generate wealth
without provoking climate change.”
- President Lula
Photo: REUTERS/Alamy Stock Photo

35.
The Question
Will Lula’s return lead to a transformation in
managing and protecting tropical forests?

36.
Will Lula succeed in
advancing a
pro-forest agenda?
3 keys to success:
• Overcome political opposition
• Enforcement of existing laws
• Return of Amazon Fund
Photo: UN Climate Change

37.
Will global markets
incentivize stopping
deforestation?
• Regulation
• Private sector
• Carbon markets
• International finance
Photo: BrazilPhotos/Alamy Stock Photo

38.
Will global action
on tropical forests
take hold?
• New global pact
• Indonesia
• Democratic Republic
of the Congo
• Summit in Gabon
Photo: David Clode/Unsplash

39.
No Finance, No Transition
Source: State of Climate Action

40.
Developing Regions Have the Greatest Need
Source: IPCC

41.
Developing Regions Have the Greatest Need
Source: IPCC

42.
Sources of Finance to Fund the Transition
• Domestic public
• Domestic private
• International public
• International private
Photo: REUTERS/Alamy Stock Photo

43.
Debt Constrains Public Investment
Source: IMF LIC DSA database

44.
Concessional Finance Is Hard to Find
Source: UN, World Bank, International Debt Statistics

45.
Private Finance Is Unevenly Distributed
Source: CPI

46.
Borrowing Costs Are
Higher in Developing
Countries
Economy-wide cost of
capital for debt in 2020:
• US: 2%
• Nigeria: 14%
• Pakistan: 15%
Photo: Geoff Marshall/Alamy Stock Photo

47.
2022: A Rallying Cry Emerges
“We must act now. We
cannot be good at rescuing
banks but bad at saving
people.”
- Bridgetown Initiative, spearheaded by
Barbados PM Mia Mottley
Photo: TIME Magazine

48.
The Question
Will financial reforms take hold and
spur investment to support developing
country transitions?

49.
Will development banks adopt transformative reforms?
Photo: Xinhua/Alamy Stock Photo
April 2023:
World Bank/IMF
Spring Meetings

50.
Will the Climate
Mitigation Trust get
off the ground?
June 2023:
Summit co-hosted by
PM Mottley & President
Macron
Photo: Erik Pendzich/Alamy Stock Photo

51.
G7:
May: Hosted by Japan
G20:
July: Finance Ministerial
October: Heads of State
summit, hosted by India
Photo: G20.org
Will major emitters
back reforms?

52.
Will more private
capital flow for
energy transitions?
June 2023:
Indonesia JET-P Investment and
Policy Plan
December 2023:
Vietnam JET-P Resource
Mobilization Plan
Photo: Yermia Riezky Santiago/Alamy Stock Photo

53.
Will COP28 move the
needle on key finance
issues?
COP28, December, in Dubai:
• $100 billion and progress
on a new goal
• Loss & Damage Fund
• MDB reform
• De-risk private finance
Photo: Nick Fewings

54.
2022: A Trio of New Climate Laws
Biggest climate investment
in US history
Photo: White House Photo/Alamy Stock Photo

55.
2022: A Trio of New Climate Laws
Source: RMI

56.
2022: A Trio of New Climate Laws
Source: RMI

57.
2022: A Trio of New Climate Laws
Source: RMI

58.
A Boost, but More to Go
Source: Princeton REPEAT

59.
A Major Job Creation Opportunity
IRA and BIL can create 900,000
to 3.1 million potential
additional net jobs by 2035
Source: Andia/Alamy Stock Photo

60.
A Strong Focus on Justice
Photo: NurPhoto SRL/Alamy Stock Photo
40% of climate investment
benefits to historically
underserved communities

61.
The Question
Will the US jumpstart a just transition to meet
its climate goals and bring economic benefits
to all people?

62.
Will the US government
accelerate renewable energy
deployment?
Photo: Andy Feliciotti/Unsplash
• Permitting reform in
Congress
• Regulatory
changes at US
agencies

63.
Will key states drive
progress?
• California
• Georgia
• Michigan
Photo: REUTERS/Rebecca Cook

64.
Will businesses and
consumers take
advantage of clean
energy incentives?
Consumer tax credits for:
EVs, heat pumps,
solar panels, energy
efficiency
Business incentives:
Zero-emissions power,
hydrogen, carbon removal
Photo: Wirestock

65.
Will government agencies
follow through on equity
commitments?
Photo: iStock
• Justice40 Scorecard
• EPA Clean School Bus
Program

66.
Will more states develop
just transition programs to
support workers?
Colorado's Just
Transition Action Plan
Photo: Shutterstock

67.
Will the US and its allies
overcome trade tensions?
• Buy America Rule
• International
frustration over
"protectionist" shift
• Europe’s Carbon
Border Adjustment
Mechanism (CBAM)