Power Our World: Clean Energy and Fossil Fuels

Image credit:UN

Let us not sugarcoat it: we are at a critical juncture. Fossil fuels—coal, oil, gas—have been the backbone of industry, transport, and daily life for well over a century. That’s how we built the modern marketplace. But the costs? They are showing up everywhere: escalating temperatures, erratic weather events, entire ecosystems on the brink. Not exactly a sustainable business model.

Now, a new generation is not just asking for change—they’re demanding it. Clean energy is not a PR stunt; it’s quickly becoming a make-or-break factor for long-term growth and brand credibility.

 The global shift to renewables could completely reshape how we do business and, frankly, determine whether organizations thrive or get left behind. It is not just about going green—it is about staying relevant.

Clean Energy, Fossils: Internalizing the Technology.

Fossil fuels remain firmly in the driver’s seat—still providing around 80% of global energy as of 2023, per International Energy Agency data. 

The infrastructure behind this—coal plants, oil refineries, natural gas turbines—has powered decades of economic expansion. But let’s not ignore the elephant in the room: burning these fuels is responsible for roughly 75% of the world’s greenhouse gas emissions. That’s a major challenge for any business thinking long-term.

On the other hand, clean energy is no longer just a buzzword. Solar, wind, hydro, geothermal—these sectors are scaling up fast. REN21’s 2023 report notes renewables now make up nearly 30% of global electricity generation, which is a record. The economics are shifting, too. 

Solar costs have plummeted over 80% in the last ten years, making it the most cost-effective source of new energy in places like Kenya, India, and Mexico. For companies eyeing sustainable growth, that’s a game-changer.

Fossil fuels have left a significant mark on our global economy—and not in a good way. For decades, coal, oil, and gas have powered growth, but the cost is coming due: atmospheric CO₂ has jumped from 315 ppm in 1958 to over 420 ppm by 2023 (NOAA). The business impacts? Far-reaching, and frankly, hard to ignore.

Figure 1:NOAA

Consider the Amazon rainforest, often touted as a critical global asset. Around 17% of its forest cover is gone, mainly driven by fossil-fuel-dependent agriculture and mining (WWF, 2023). That’s not just an environmental loss; it’s a supply chain and sustainability risk for countless industries.

In the Arctic, the pace of warming is four times the global average (Nature Climate Change, 2022). Melting ice and rising seas don’t just hurt local communities—they threaten infrastructure, disrupt shipping routes, and create long-term uncertainties for global markets.

 Small island nations like Tuvalu and Kiribati are already facing existential threats from saltwater intrusion and sea-level rise. These aren’t distant problems; they’re live risks for insurers, investors, and governments.

On the upside, clean energy technologies offer a compelling value proposition. Solar and wind power don’t just cut emissions—they also operate with minimal pollution and reduced water consumption. 

The IPCC’s 2022 Climate Report points out that a decisive move toward renewables could cut CO₂ emissions by as much as 70% by 2050. That means real opportunities for businesses to future-proof operations, stabilize costs, and meet ESG goals, all while preserving critical environmental assets.

Figure 2: Sepasoft

Impact on Youth and Society  

The climate crisis is fundamentally reshaping the outlook for young people worldwide. UNICEF reports that roughly 1 billion children are highly exposed to climate-related hazards—rising temperatures, flooding, poor air quality. This isn’t just a social issue; it’s a workforce and talent pipeline concern for employers everywhere. Currently youths globally are experiencing:

• Health risks are mounting: The WHO estimates air pollution from fossil fuels claims around 7 million lives each year, with children and elderly populations hardest hit. That means rising healthcare costs, increased absenteeism, and long-term productivity challenges.
• Climate-driven displacement is another growing ris: In 2022 alone, over 32 million individuals were displaced by climate-related events, according to the report shared by Iberdrola from IDMC, with youth disproportionately affected. These trends will continue to disrupt education, training, and labor markets—key areas for any forward-thinking business.  View full Report (PDF)

               Figure 3: IDMC View here

• Forging the solutions: Young entrepreneurs and activists—think Greta Thunberg and Vanessa Nakate—are reshaping the conversation around climate risk and opportunity. 

The clean energy sector itself is booming and the ILO projects is hoping for 24 million new jobs in clean energy by 2030, which will span engineering, digital design, manufacturing, and maintenance. For innovative youths, this means access to a rapidly expanding pool of skilled talent and new avenues for growth.

Again, BRICS have also emerged as a new climate frontier. In 2023, the BRICS alliance—Brazil, Russia, India, China, South Africa, and now newcomers like Nigeria and Indonesia—has positioned itself as both a major player in clean energy and a focal point for ongoing fossil-fuel debates. 

Per the 2024 Global Energy Monitor, these countries collectively have over 190 GW worth of solar and wind projects in operation or development, placing BRICS firmly at the forefront of global renewable energy expansion. That said, significant fossil fuel interests still linger within the group, creating a complex and sometimes contradictory energy landscape. Despite all the efforts, tension is still felt:

• Let’s be real. Indonesia, Nigeria, and Kazakhstan—some of the latest BRICS members—are still heavily investing in fossil fuels. We’re looking at about 25 gigawatts of new coal, oil, and gas capacity coming online, while solar and wind barely make a dent at just 2.3 GW. The numbers say it all—despite the global push for renewables, these countries are doubling down on traditional energy sources.
• Despite China’s public commitment to halt financing for new coal projects overseas, state-backed companies haven’t exactly pumped the brakes. They’re still actively funding and constructing coal plants in regions like Indonesia and Africa. Since 2021, these efforts have added over 26 gigawatts of coal-based power generation—so, clearly, the investments haven’t stopped just because of the official line.
• Whenever BRICS leaders convene, they emphasize the need for a "just, technology-neutral" transition. In practice, that means they're backing everything from renewables to more controversial options like coal gasification and carbon capture. Unsurprisingly, this approach has drawn criticism from some climate advocates, who argue that BRICS is trying to keep its options open rather than taking a decisive stance on clean energy.

BRICS sits at a pivotal crossroads for young climate advocates. On one side, the group has enough economic clout to drive real change in global climate policy—if it decides to act. 

On the flip side, internal disagreements and continued fossil-fuel investments make it clear just how critical outside accountability is. 

Honestly, this only underlines the need for persistent pressure from youth, NGOs, and civil society to keep BRICS moving in the right direction. The stakes are high, and relying on BRICS alone just isn’t a reliable strategy.

Why Young People Must Lead the Transition  

The next generation is inheriting both the challenge and the solution. From organizing climate strikes to developing innovative solar technologies, young leaders are driving momentum for sustainable energy and climate resilience. 

The United Nations notes that youth now represent the largest demographic at global climate negotiations—pushing for a just, inclusive energy transition.

For the business community and world leaders, the message is clear: supporting youth leadership and investing in clean energy is not just good PR—it’s a strategic imperative for long-term growth, talent retention, and risk management. The transition is already underway. The question is, who’s ready to lead?

Turning Commitment into Change

Here’s what needs to happen. First off, governments should ditch fossil fuel subsidies—seriously, it’s time to redirect that funding into clean tech. Think renewables, smarter grids, real innovation. The old way isn’t just outdated; it’s a liability.

When it comes to youth, let’s get real—climate education cannot be a side note. Integrate it into every curriculum, everywhere. And don’t stop at the science; teach entrepreneurship, give them the skills to actually drive solutions in the real world. These future leaders need more than theory—they need practical tools and opportunities.

But none of this works in silos. It’s time for young activists, NGOs, business leaders, and international institutions to get aligned.

True progress only happens when everyone pulls in the same direction, scaling up clean energy projects that deliver both environmental and economic value.

The bottom line is, transitioning from fossil fuels isn’t just about the tech—it’s a major shift in business values. Equity, resilience, sustainability—these can’t be buzzwords anymore. As we move into this new era, one thing’s clear: young talent isn’t waiting on the sidelines. They’re already driving change and redefining what leadership and innovation look like.

If we want a cleaner, more competitive future, it’s time to empower them—and let their momentum lead the way.