2022 Integrity of corporate net zero pledges
As of 2022 more than 2000 companies are working with SBTi
Assumes that climate change is a technology problem
Bioenergy and BECCS as distraction
Carbon markets and offsets as distraction
CCS and DAC as distraction
Claire Stockwell, Climate Analytics: “It is all very well for leaders and governments to claim that they have a net-zero target, but if they don’t have plans as to how to get there, and their 2030 targets are not aligned with net-zero, then, frankly, these net-zero targets are just paying lip service to real climate action. That’s the key reason we think Glasgow at this stage has a very big credibility gap.”
Full net zero, including scope 3, requires collaboration across value chain
Geological and terrestrial carbon are very different
If the world is to be on the right path for net zero, that number would need to rise to around 1.7 billion tonnes of CO2 by around 2030. That's a 40x increase just the next eight years.
Industry has a huge impact on UNFCCC process
Inger Anderson, exec dir UNEP: “It is not good to see that net-zero pledges are generally vague and untransparent; they are hard to calculate and hold to account; many kick the can beyond 2030, when we know that we need to halve our emissions between now and 2030 to be on track to limit warming to 1.5C.”
Most plans avoid source reductons for decades
Nature-Based Solutions as distraction
Net zero commitments often are not backed by credible action plans
Net zero targets commit to reduce the analysed companies aggregate emissions by 40% on average, not 100%
Plans rely on highly uncertain technologies
SCC values are far below what would be required to achieve net zero by 2050
So far the lack of stronger commitments for emissions cuts by 2030 creates a “very big credibility gap” for net-zero promises, according to the Climate Action Tracker.
With today’s tools companies can’t credibly track and demonstate net zero progress
2021 Eunomia_Infographic - achieving net zero
2021 Infographic - Achieving net zero - A summary of evidence behind potential carbon offsets
I:EvaluatingNetZeroCommitments
I:NetZeroandGlobalTemperature
I:ScienceBasedTargetCommitments
S - Net Zero in Practice Critiques
S - SBTi Science-Based Targets
N - Net Zero Corporate Commitments
E - Net Zero and Climate change
4 Net-Zero Pathways compared
2018 What happens by sector to achieve net zero by 2070?
2019 Global total net CO2 emissions -- timing of net zero CO2
2020 Average global electricity costs 2050 Net Zero Scenario
2020 Key dimensions of net-zero corporate targets
2020 Net zero emissions at the global level
2020 Taxonomy of climate mitigation tactics and outcomes
2021 About 40% of emissions can be abated at very low costs
2021 All IPCC pathways all for dramatic emissions reductions
2021 Carbon prices (MACC) for staggered net-zero scenarios
2021 Companies have increased net zero commitments and decarbonization processes
2021 Compensation and neutralization offsets in net-zero emissions strategies
2021 Consumer-facing industries often have greater financial means to address decarbonization costs
2021 Eight supply chains are responsible for more than 50% of global emissions
2021 Emission split in Scopes 1, 2 and 3 upstream for selected industries
2021 Emissions covered by corporate net zero commitments in target years
2021 Estimated emissions cuts by large companies with net zero targets
2021 IPR forecasts that US, India, and Australia will announce their net zero emissions targets by 2023
2021 Land use and heavy industries drive most emissions
2021 Major net zero commitments and new climate measures in leading countries
2021 Major net zero commitments and new climate measures in leading countries have raised prospects for accelerated policy response
2021 Net zero emissions targets have been announced or ratified into law by countries representing 73% of global emissions
2021 Net zero pathway trade volumes and financial flows for cooperative implementation
2021 Net Zero timelines for 1.5 and 2oC
2021 NGFS Net-Zero 2050 scenario
2021 Staggered net zero scenario emissions with independent and coopeative implementation
2021 Staggered net-zero potential Article 6 trade volumes and financial transfers
2021 Staggered net-zero scenario showing emissions changes and financial flows in 2050
2021 Supply-chain action can address “imported emissions”
2021 The impact of various abatement levers varies strongly across supply chains
2022 $2 trillion of power assets might be stranded in Net Zero 2050 scenario
2022 Agriculture sector implications of net zero transition
2022 Building sector implications of net zero transition
2022 Carbon capture and storage as low carton transition opportunitiy
2022 Cement sector implications of net zero transition
2022 CO2 emission by fuel and sector
2022 CO2 per square km reforestation potential in net zero transition
2022 Costs of electricity, steel, and cement rise in Net Zero 2050 Scenario
2022 Country exposures to net-zero transition, by six groupings
2022 Energy supply, spending, and employment changes in Net Zero 2050 scenario
2022 Forest and land use sector implications of net zero transition
2022 GDP per capita vs transition exposure
2022 GHG emissions by sector
2022 Incremental Net Zero 2050 Scenario Spending
2022 Investment opportunities associated with Net Zero 2050 scenario
2022 Mineral exploitation opportunities associated with low carbon transition
2022 Net Zero 2050 Scenario involves spending $25 trillion more than the Current Policies scenario by 2050
2022 Overall job impacts Net Zero 2050 Scenario
2022 Physical assets spending by country as percent of GDP
2022 Physical risk exposure in parallel to transition exposure
2022 Removals across the energy system in the IEA Net Zero Emissions by 2050 Scenario
2022 Road mobility sector implications of net zero transition
2022 Sectoral exposure to net zero transition
2022 Sectoral job shifts Net Zero 2050 Scenario
2022 Steel sector implications of net zero transition
2022 Top ten emitters account for 62 percent of CO2 emissions, and 49% of methane emissions
2022 Total and “New” Spending associated with Net Zero 2050 scenario
2022 Transformation of energy and land-use systems under Net Zero 2050 scenario
2022 U.S. Counties with more than 10% of jobs in heavily impacted sectors
2022 Use of offsets for carbon neutrality claims and net zero pledges
2022 World CO2 emissions and removal across the energy system in the IEA Net Zero Emissions by 2050 Scenario
2023 A variety of stakeholders are pushing for net zero
2023 Companies need to embed a net zero culture and develop essential tools
2023 Financed emissions intensity pathways compared to TPI oil and gas benchmarks
2023 Just 5 of 24 companies commit to deep decarbonisation with their net-zero pledges
2023 Net-zero pledges break down to only moderate emission reductions alongside offseting and scope exclusions
2023 Overview of companies assessed in the Corporate Climate Responsibility Monitor 2023
2023 Overview of corporate climate responsibility good practice assessment for 24 companies in 2023
2023 Renewable energy cost premium trends
2023 Scorecard - US banks’ oil and gas GHG targets (selected banks)
2023 The median commitment to emission reductions between 2019 and 2030 is just 15-21%
2023 There are several way to decarbonize upstream and downstream scope 3 emissions
2023 There are several ways to decarbonize scope 1 and scope 2 emissions
Independent and cooperative net zero pathways to 2050
Investors can guide companies toward net zero
Net-Zero goals based on per capita income
Progress on near-term and long-term commitments
Status of net zero targets and planning
1. A Confluence of Crises
300 Companies Have Committed to Net Zero
Analysis significantly exceeds prior estimates of costs of transition
Assessing the net zero transition involves dozens of complex questions
Because many supply chains are geographically dispersed, Scope 3 actions can have a favourable climate impact in countries where regulatory pressure is low
Capital spending would total about 275 trillion by 2050, requiring almost 9% of GDP
Carbon neutral demand is leading regulation
Close to 1000 companies are setting science-based emission reduction targets. It’s time to provide guidance on net zero targets
Companies’ emissions reductions plans are more important than their Net Zero plans
Corporate net zero targets are inconsistent
Daunting as it sounds, net zero can be achieved
Defining “net zero” for corporate purposes
Economic shifts associated with the transition could be substantially higher in a disorderly transition
Electricity costs out to 2050 would rise substantially, and then fall
Energy prices are already volatile
Expert Group offers a roadmap to prevent net zero from being undermined
Full decarbonization requires very costly measures
Getting to net zero emissions involves 3 groups of building blocks
High-emissions sectors would be dramatically impacted
In their Net Zero plans, companies should be disclosing:
ISO 14000 family as a global standard
ISO 14001 and carbon neutral construction
Jobs gains and losses could largely balance out
Key uncertainties in the analysis
More than half of the global economy is covered by net-zero commitments
Nature-based solutions can play key roles in net-zero strategies
Net zero emissions will require a transformation of the global economy
Net zero targets should drive the transformation needed for global climate and sustainability goals
Offsets can play two roles in net-zero strategies
Private funding for offsets is critical to achieving net zero by helping to close the $4.1 trillion financing gap by 2050
Reaching net zero would prevent the accumulation of physical risks
Rec 1 - Announcing Net Zero Pledge
Rec 2 - Setting Net Zero Targets
Rec 3 - Using Voluntary Credits
Rec 4 - Creating a Transition Plan
Rec 5 - Phasing Out of Fossil Fuels and Scaling up Renewable Energy
Rec 6 - Aligning Lobbying and Advocacy
Rec 7 - People and Nature in the Just Transition
Rec 8 - Increasing Transparency and Accountability
Rec 9 - Investing in Just Transition
Rec 10 - Accelerating the Road to Regulation
Reducing emissions directly should always be preferred
Report assesses what would be involved with an orderly transition to net-zero by 2050, as opposed to assessing the feasibility or likelihood of such a transition
Report does not assess who pays for the transition
Report encompasses energy and land-use systems in 69 countries, covering 85% of global emissions
Report uses the scenarios from the NGFS. Including net-zero transition scenario, and the Current Policies scenario. The net-zero scenario has a 50% chance of limiting warming to 1.5oC
Role of biofuels in Net Zero 2050 scenario
Role of hydrogen in Net Zero 2050 Scenario
SBTi’s Net Zero Standard may provide a framework for credible long-term targets, but compliance must be checked thoroughly and monitored in the future
Shell says CDR can substitute for reducing production and emissions
Six characteristics of the net-zero transition
Some companies are planning a heavy reliance on CDR
Strategies focused on compliance should consider measurement standards accepted by the UN
Tackling supply-chain emissions offers companies the opportunity to multiply their climate impact several times over.
The analysis focuses primarily on first-order impacts
The best practice for banks is to disclosure historical emissions in both absolute and physical intensity terms
The challenge of net-zero accounting
The costs of deep decarbonization across supply chains are surprisingly low and result in an increase of only 1-4% on end-consumer prices
The IPCC’s definition of net zero
The need for business and government cooperation would need to be unprecedented
The topic of “net emissions” is complicated
Treatment of carbon credits for banks: should not count towards a bank’s 2030 targets
Urgent action is needed to unlock the potential of corporate climate leadership in this crucial decade of climate action towards 2030
Using radiative forcing as opposed to emissions for assessing net zero has advantages
Using radiative forcing has a significant impact on the dates by which “net zero” has to be reached
No more concurrent uploads are allowed - wait until at least one has finished.
Headings - Extracted Materials
Extracted Graphics | Extracted Ideas