Countries need to act to double the rate of energy efficiency improvement globally in order to meet their climate goals and maintain competitiveness in a transitioning world.

More than $12trn will need to be invested in new renewable power generation over the next 25 years to achieve the climate goals laid out in the Paris agreement, according to a new report from research group Bloomberg New Energy Finance and sustainability non-profit Ceres.

Countries can deliver on the promises of the historic Paris climate change agreement by rapidly scaling up wind and solar power to 36% of the global energy mix by 2030.

The International Monetary Fund is calling for a carbon tax on aviation and shipping to help deliver global climate goals.