It is happening all over the world. The International Energy Agency tracks this very well and talks about the fact that it is actually not a question of if it's happening, but how quickly it's happening.
In 2020, one in 25 vehicles sold globally was a zero-emission vehicle. Last year, it was one in five. That's enormous progress.
We are seeing the share of fossil fuels in electricity generation fall dramatically, and it will continue to fall dramatically by 2030. Almost half of the world's electricity supply will come from renewables. It will be 80% by 2030, and 80% of all new electricity capacity between now and 2030 will be from renewables. In the U.S., 50% of new car registrations will be electric. Heat pumps are actually overtaking fossil fuel boilers.
We are seeing all kinds of progress happening. The best examples we're seeing, to be honest with you, are in Europe, Japan, South Korea and the United States.
However, China has been very strategic, and we need to be thoughtful about how we respond to this. China is now the number one or two manufacturer of electric vehicles, the number one developer of renewable energy technologies and the number one deployer. It controls much of the critical minerals and critical mineral processing capacity around the world. That is very strategic, because it has made an enormous bet on the energy transition.
This is happening everywhere around the world, and Canada needs to be part of that conversation.