Net zero by 2050 is achievable, but we need to act in the 2020s to put that target within reach. The latest report from the Energy Transitions Commission shows how and where governments, investors and corporates can get behind the deployment of zero-carbon solutions.
It’s increasingly accepted that to manage climate change’s most damaging impacts, we must achieve a net-zero economy by mid-century. Making Mission Possible – published this week by the Energy Transitions Commission (ETC) – sets out the steps we need to take.
A profound transformation of the global energy system lies ahead. The report’s authors see clean electrification as the primary route to decarbonisation – electricity rises from 20% final energy demand to as much as 70% – complemented by hydrogen, sustainable biomass and fossil fuels combined with carbon capture.
The report’s implications go far beyond the energy sector; such a transformation will involve a shift to new products, business models and consumption patterns. In the ETC’s words, it is providing “governments and private sector leaders with a vision of how to invest in the future and build a healthier, more resilient, net-zero economy”.
So how do we get there? The report outlines 3 critical priorities for the 2020s:
- Speed up the deployment of proven zero-carbon solutions
- Create the right policy and investment environment
- Bring the next wave of zero-carbon technologies for harder-to-abate sectors to market
And with COP26 just over a year away, its High Level Champion for Climate Action has welcomed its practical actions that nations and non-state parties can commit to. “The ETC continues to be the benchmark for CEOs and policymakers looking to back up their Race to Zero commitments”, said Nigel Topping. “If you didn’t read the original Mission Possible report, you must read Making Mission Possible – unless you are actually planning to fall behind your peers!”
