A seven-point guide to getting the net zero transition on track

The World Economic Forum identifies seven critical areas to get the net zero transition on track: deploying low-cost emission reductions, lowering the cost of immature technologies, creating new financial mechanisms like blended finance, removing physical bottlenecks in minerals and infrastructure, redesigning electricity markets for wind and solar, managing the parallel operation of fossil fuel and clean energy systems, and leveraging comparative advantages for new economic opportunities.

• Low-cost solutions costing less than $20 per metric ton of gas abated could reduce annual emissions by up to 19 metric gigatons by 2030, though current investment is insufficient. Examples include stopping deforestation, improving energy efficiency, and reducing methane emissions during fossil fuel extraction.
• Only 10-20% of the emissions reductions needed by 2050 can be achieved using commercially mature technologies, necessitating private sector investment and R&D to scale up and reduce the cost of immature solutions.
• Trillions of dollars are required for low-emissions technologies, necessitating new asset classes such as "brown-to-green" funds, growth infrastructure funds, and industrial venture capital funds, as well as the use of blended finance to reduce risk for private investors.
• Physical bottlenecks in the supply of minerals, labor, and infrastructure—such as electrical grids and EV charging networks—pose risks, particularly given that starting a new mine can take five to 15 years.
• Net zero electricity systems may need to provide three times the current energy volume, requiring a redesign of markets to include flexible capacity like nuclear plants and batteries to compensate for the variability of wind and solar power.
• The world must manage two energy systems in parallel, ramping down fossil fuels while scaling up clean energy; even in 1.5°C scenarios, fossil fuels will remain part of the energy mix for several years, requiring a focus on reducing Scope 1 and 2 emissions from these operations.

APA

Tai, M. K. H. (2024). A seven-point guide to getting the net zero transition on track. World Economic Forum. https://www.weforum.org/stories/energy-transition/guide-to-getting-net-zero-transition-on-track/

Chicago

Tai, Mekala Krishnan, Humayun. A seven-point guide to getting the net zero transition on track. World Economic Forum, 2024. https://www.weforum.org/stories/energy-transition/guide-to-getting-net-zero-transition-on-track/.

Wikipedia

{{cite report |last1=Tai |first1=Mekala Krishnan, Humayun |title=A seven-point guide to getting the net zero transition on track |publisher=World Economic Forum |date=6 May 2024 |url=https://www.weforum.org/stories/energy-transition/guide-to-getting-net-zero-transition-on-track/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{tai2024sevenpoint, author = {Tai, Mekala Krishnan, Humayun}, title = {{A seven-point guide to getting the net zero transition on track}}, institution = {World Economic Forum}, year = {2024}, month = may, url = {https://www.weforum.org/stories/energy-transition/guide-to-getting-net-zero-transition-on-track/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }