Enhancing Energy efficiency and reducing energy intensity are one of the first steps to meet the Paris Climate Agreement targets. Efficiency improvements come from human behavior change and machine-behavior change. The modern technologies like machine-learning could be of immense help which can point out the areas for improving efficiency and also predict the deterioration of energy efficiency. But that would not be enough to meet the target of GHG emission reduction as per the IPCC report.
In October 2018, the Intergovernmental Panel on Climate Change (IPCC) released the Special Report on Global Warm 1.5°C, warning that 1.5°C of warming will have major impacts, including on food security, ocean ecosystems, and extreme with significantly higher impacts in a 2°C warming scenario. To limit global average temperature rise to 1.5°C, the Special found that anthropogenic CO2 emissions will need to drop by 45% by 2030, and fall to net-zero by 2050.
USD 1.5 to 4 trillion dollars per year, not just billions, are needed apart from disinvestment in fossil fuels and reducing the subsidies for fossil fuel. Are we ready?