Net zero emissions

As government leaders and climate negotiators gather in Dubai for the COP28 United Nations climate conference, an enormous challenge looms over the proceedings: decarbonizing the global industrial sector. Industry has accounted for over 30% of total greenhouse gas emissions in recent years. It is the single largest emitting sector when accounting for its electricity use and heat generation. For countries to meet their goals to cut greenhouse gas emissions, stopping emissions from carbon-intensive industries like steel, cement and chemicals is imperative. There are promising technologies and innovations that can drive decarbonization in industry: green hydrogen fuel made from clean electricity and water, energy efficiency measures across supply chains, and carbon capture, use and storage to name a few. However, these solutions have yet to be deployed at the speed and scale required to slow global warming. Global industrial emissions will need to fall by 25% by 2030 for the...

Over recent months there has been an orchestrated pushback against investors and insurers who integrate the risks of climate change into their business models. That pushback – emanating from Republican-led states – is having an impact on how companies speak publicly. But whether it will affect their efforts to respond to climate change is less clear. The latest targets have been global insurance companies, and their responses offer some insight. Under pressure, several major insurers, including AXA, Allianz, Lloyd’s and Swiss Re, have pulled out of a United Nations-organized alliance committed to a global goal of net-zero emissions by mid-century. There’s a word for companies going quiet in the face of orchestrated attacks: “greenhushing.” But while the insurers’ departures from the alliance might look like a victory for politicians and political donors who want to delay action on climate change, the companies say leaving doesn’t...

Several major airlines have pledged to reach net-zero carbon emissions by midcentury to fight climate change. It’s an ambitious goal that will require an enormous ramp-up in sustainable aviation fuels, but that alone won’t be enough, our latest research shows. The idea of jetliners running solely on fuel made from used cooking oil from restaurants or corn stalks might seem futuristic, but it’s not that far away. Airlines are already experimenting with sustainable aviation fuels, including biofuels made from agriculture residues, trees, corn and used cooking oil, and synthetic fuels made with captured carbon and green hydrogen. United Airlines, which has been using a blend of used oil or waste fat and fossil fuels on some flights from Los Angeles and Amsterdam, recently announced plans to power 50,000 flights a year between its Chicago and Denver hubs using ethanol-based sustainable aviation fuels by 2028. The airline also launched a US$100 million fund on Feb...

Leer in español Something significant is happening in the desert in Egypt as countries meet at COP27, the United Nations summit on climate change. Despite frustrating sclerosis in the negotiating halls, the pathway forward for ramping up climate finance to help low-income countries adapt to climate change and transition to clean energy is becoming clearer. I spent a large part of my career working on international finance at the World Bank and the United Nations and now advise public development and private funds and teach climate diplomacy focusing on finance. Climate finance has been one of the thorniest issues in global climate negotiations for decades, but I’m seeing four promising signs of progress at COP27. Getting to net zero – without greenwashing First, the goal – getting the world to net zero greenhouse gas emissions by 2050 to stop global warming – is clearer. The last climate conference, COP26 in Glasgow, Scotland, nearly fell apart o...