10 Ways to Win the Global Race to Net-Zero
Global insights to inform Canadian climate competitiveness
We all heard @IEA @fbirol say it: "No new investments in oil, gas and coal, from now—from this year." The global race to #NetZero is on and there's no turning back. Who's in the lead, and how can #Canada catch up?
The recent @IEA report & numerous other studies have found that hitting #NetZero by 2050 is feasible. But it demands systemic transformation & cooperation across sectors, plus the will to act boldly. Is #Canada ready?
With each passing day, more countries—and, increasingly, more companies—pledge to limit global warming to 1.5°C by reaching net-zero greenhouse gas (GHG) emissions by 2050. Collectively, countries with net-zero targets represent 61% of global GHG emissions, 68% of global GDP, and 52% of the global population. Companies with net-zero commitments together represent sales of nearly USD 14 trillion.
Net-zero is the new normal.
And a growing body of research, modelling, and analysis is beginning to paint a picture of how countries can get to this point by mid-century. Across all the studies, there are several findings that stand out:
- Energy efficiency and electrification—substituting clean power for fossil fuels—have the capacity to deliver the greatest contribution.
- While most efforts to date have focused on carbon dioxide (CO2) emissions, we must also reduce other greenhouse gas emissions, such as methane and hydrofluorocarbons.
- The decarbonization of heavy industry is challenging but essential, and hydrogen could prove a key enabler of these reductions.
You might also be interested in
Plans for global fossil fuel production wildly out of step with climate limits
World governments plan to produce fossil fuels at more than double the rate consistent with warming of 1.5°C, new research has found.
Report shows fossil fuel production out of step with government climate commitments
Governments around the world expect to produce twice as much fossil fuels as their climate commitments would allow, a new international report has found.
Big fossil fuel producers' plans far exceed climate targets, U.N. says
Major economies will produce more than double the amount of coal, oil and gas in 2030 than is consistent with meeting climate goals set in the 2015 Paris accord to curb global warming, the United Nations and researchers said on Wednesday.
The Production Gap
The report measures the gap between governments' planned fossil fuel production and the global production levels consistent with the Paris Agreement.