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Five approaches to a more sustainable world

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Written by: Oscar Vargas

About $1.5 trillion invested globally in 2024[1] brought significant strides toward sustainability. These investments covered renewable energy projects, conservation efforts, and technologies to cut carbon emissions.[2]

CARBON CAPTURE AND STORAGE (CCS)

Project Cypress will combat climate change by removing CO2 from the atmosphere

Investments in carbon capture technologies surged in 2024. Global investments in projects mitigating CO₂ nearly doubled, reaching almost $11.3 billion. The total of U.S. investments was approximately $1.3 billion.

The U.S. Department of Energy (DOE) released a multi-year program plan to expand storage infrastructure and support domestic CCS initiatives. One significant project, Louisiana’s Project Cypress, is expected to sequester 1 million tons of excess CO2 annually. The DOE also funded the South Texas Hub to support that area’s CCS infrastructure and advance related commercial projects.[3]

RENEWABLE ENERGY

The Copper Mountain Solar Facility (Boulder City, Colorado) has an 802 MW capacity

The world boosted its renewable energy by 15% in 2024, hitting 3,200 gigawatts (GW). In the U.S., 90% of the new electricity came from renewables, with solar energy making up more than 81% of that new capacity.[4]

By the end of the year, solar energy costs had decreased approximately 20%. Economies of scale reduced manufacturing costs, while technological advancements made solar panels more efficient. Greater competition among solar panel manufacturers further reduced prices.[5]

ADVANCED NUCLEAR ENERGY

A reactor inspection as Plant Vogtle Unit 4 nears completion

Several plans for safer nuclear reactor development were published in 2024. Those included safety systems that can operate without human intervention, even if external power sources fail. Among other recent innovations were a sodium-cooled fast reactor, a molten salt energy storage system in Wyoming, and a high-temperature gas reactor plant in Texas. Announced federal goals were expanding nuclear capacity by 15 GW per year by 2040 and achieving a 200 gigawatts (GW) capacity by 2050.

The completion of Unit 4 at Plant Vogtle in Georgia, supported by a $12 billion loan from the Department of Energy (DOE), made it the largest nuclear plant in the U.S. Additionally, the Holtec Palisades nuclear plant in Michigan received a $1.52 billion loan for reactor upgrades and improvements.[6]

ELECTRIC VEHICLES (EV) AND INFRASTRUCTURE

Dual-plug charging stations at an interstate highway rest stop

Around 18% of all cars sold globally in 2024 were electric vehicles (EV). That’s an increase of 14% over 2023 sales.[7]

In the U.S., after a 20% annual increase, EVs comprised 22% of total vehicle sales. The fourth quarter of 2024 alone saw a 34% year-over-year increase in EV sales,[8]

By the end of the year, over 183,000 EV charging ports were publicly available across the country, almost doubling the availability seen three years prior. Over 13,000 chargers were added in Q4 2024.[9]

CONSERVATION

The Biscayne Bay Coastal Wetlands project is rehydrating the wetlands and reducing abrupt point-source freshwater discharge.

Two international humanitarian organizations, the Cooperative for Assistance and Relief Everywhere (CARE) and the World Wildlife Federation (WWF), collaborated on the CARE-WWF Sowing Change Initiative. That program equips women to establish nature-based enterprises and guides their communities in addressing climate change challenges.

In the U.S., bipartisan legislation in 2024 has authorized Army Corps of Engineers aquatic ecosystem restoration projects and programs. It funds a national coastal mapping program, dam safety, and ecosystem projects in various regions. The House of Representatives has reauthorized critical U.S. Fish and Wildlife Service programs, including the Multinational Species Conservation Funds, which help protect elephants, rhinos, tigers, great apes, and sea turtles.[10]

Sustainability Programs

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