Petro-states vs. electro-states: What to watch for the global energy transition in 2026

Two years ago, countries around the world set a goal of “transitioning away from fossil fuels in energy systems in a just, orderly and equitable manner.” The plan included tripling renewable energy capacity and doubling energy efficiency gains by 2030—important steps for slowing climate change since the energy sector makes up about 75% of the global carbon dioxide emissions that are heating up the planet.

The world is making progress: More than 90% of new power capacity added in 2024 came from renewable energy sources...