Pillars of The Green Transition 2024

In the past few years, achieving net-zero emissions by 2050 has emerged as the ultimate deadline in what is seen as the existential fight of our era. This target, informed by scientific consensus on limiting global warming to 1.5°C above pre-industrial levels, is being adopted by governments and organizations across the world. However, whether meeting such a deadline is possible, and at what cost, is a question of ever increasing urgency. McKinsey estimates that achieving net-zero emissions by 2050 would require $275 trillion in cumulative spending on physical assets, equivalent to about 7.5 percent of global GDP annually until 2050. This robust figure makes one thing very clear: it is crucial to assess how practical and effective the proposed measures are—there is little to no margin of error if net-zero is to be a reality, especially as early as 2050.

In this report, we explore how a diverse energy mix seems to be the most realistic path forward, balancing the strengths of some technologies with the limitations of others. By doing so, we'll gain insight into the transformative potential re-thinking energy holds for our world.