4 ways to summon public and private unity to advance net zero

The author contends that reaching net zero by 2050 requires a level of global mobilization and cooperation comparable to World War II, as over 80% of global energy currently relies on fossil fuels. The document proposes a "Flywheel of Progress" where public and private sectors collaborate across four key areas: accelerating green innovation through shared R&D and marketization, creating functioning markets by sharing risks and addressing market failures, establishing regulations such as carbon pricing and non-financial reporting standards, and building public will through affordable green products. The author uses wind turbine innovation as an example of this self-reinforcing cycle, where policy drives innovation, which increases supply and public support, further fueling policy and investment.

• Achieving net zero by 2050 requires a radical restructuring of the global economy and mindset, as fossil fuels still provide more than 80% of the world's energy.
• Public-private partnerships can accelerate green innovation by combining government investment in early-stage R&D with business expertise in manufacturing, distribution, and market adoption.
• Governments are essential for creating the regulatory frameworks necessary for the transition, specifically through the implementation of carbon pricing and standards for emissions, green buildings, and fossil fuel phase-outs.
• The "Flywheel of Progress" is a model where positive developments in one area of the transition—such as policy-driven innovation in wind turbines—create a reinforcing cycle that increases affordable energy supply and public support, which in turn drives further investment and policy.
• PwC advocates for the establishment of global standards for non-financial climate reporting to ensure businesses align their strategies with regulatory signals.

APA

Moritz, R. E. (2022). 4 ways to summon public and private unity to advance net zero. World Economic Forum. https://www.weforum.org/stories/energy-transition/net-zero-public-private-unity-pwc/

Chicago

Moritz, Robert E. 4 ways to summon public and private unity to advance net zero. World Economic Forum, 2022. https://www.weforum.org/stories/energy-transition/net-zero-public-private-unity-pwc/.

Wikipedia

{{cite press release |last1=Moritz |first1=Robert E. |title=4 ways to summon public and private unity to advance net zero |publisher=World Economic Forum |date=18 January 2022 |url=https://www.weforum.org/stories/energy-transition/net-zero-public-private-unity-pwc/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{moritz2022ways, author = {Moritz, Robert E.}, title = {{4 ways to summon public and private unity to advance net zero}}, publisher = {World Economic Forum}, year = {2022}, month = jan, url = {https://www.weforum.org/stories/energy-transition/net-zero-public-private-unity-pwc/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }