The race to net-zero emissions will forever change the way many companies do business. The immediacy, pace, and extent of change are still widely underestimated. Early movers can seize significant advantage.
Humanity’s biggest challenge remains far from being solved. The ambition agreed upon in Paris in 2015 may be slipping out of reach—less than ten years after its formulation. Decision makers must strengthen their resolve and immediately shift from incremental to systemic actions.
To retain any chance of limiting global warming below 1.5°C, global emissions must decrease by around 7% annually until 2030—but emissions are still increasing today by 1.5% per year. (See the exhibit.)
Despite recent progress in many dimensions, climate action remains largely ineffective: