An Action Plan for Solving Our Climate Crisis Now

1.0
Electrify Transportation
Reduce 8 gigatons of transportation emissions to 2 gigatons by 2050.
1.1
Price

Achieve global price parity between EVs and gas-powered vehicles by top emitters by 2030.

Updated April 2025
Insufficient Progress

$55,694 (average EV) vs. $45,264 (average full-size car) in the U.S.

Source: Kelley Blue Book, 2024

1.2
Cars

Increase EV sales to 50% of all new car sales by 2030, 95% by 2040.

Updated April 2025
Insufficient Progress

EV share of car sales was 24.0% in 2024

(BEVs and PHEVs)

Source: BloombergNEF, 2025

1.3
Buses

Electrify all new buses by 2030.

Updated April 2025
Failing

27.2% of new bus purchases were electric in 2023

Source: BloombergNEF, 2023

1.4
Trucks

Increase sales of zero-emissions medium and heavy trucks to 30% of all new truck sales by 2030; 95% by 2045.

Updated April 2025
Failing

Electric share of global truck sales was 0.9% in 2023

(BEVs, FCVs, and PHEVs)

Source: BloombergNEF, 2023

1.5
Miles ↓ 5 Gt

Increase miles driven by electric vehicles (two- and three-wheelers, cars, buses, and trucks) to 50% of the global total by 2040, 95% by 2050.

Updated April 2025
Insufficient Progress

EV global share of miles driven across road vehicles in 2023: 6.3%

(BEVs, FCVs, and PHEVs)

Source: BloombergNEF, 2024

1.6
Planes ↓ 0.3 Gt

Increase low-carbon fuel for aviation to 40% by 2040.

Updated April 2025
Failing

0.3% of fuel use is low-carbon

Source: BloombergNEF, 2025

1.7
Maritime ↓ 0.6 Gt

Deploy low-carbon fuel for 5% of maritime shipping by 2030; zero out emissions for the shipping industry by 2050.

Updated April 2025
Failing

Zero percent of new ships are low-carbon

Source: Global Martime Forum, 2024

2.0
Decarbonize the Grid
Reduce 24 gigatons of global electricity and heating emissions to 3 gigatons by 2050.
2.1
Zero Emissions ↓ 16.5 Gt

Tap emissions-free sources to generate 50% of electricity worldwide by 2026, 90% by 2035.*

Updated April 2025
Insufficient Progress

39% of electricity came from emissions free sources in 2023

Source: Energy Institute, 2024

2.2
Solar & Wind

Make the cost of solar and wind lower than fossil fuels by 2025.

Updated April 2025
Achieved

On average Solar PV is $37 per MWh cheaper than fossil fuels

Source: BloombergNEF, 2025

2.3
Storage

Reduce the cost of short-duration electricity storage to less than $50 per kWh by 2028 and the cost of long-duration electricity storage (up to 30 days) below $10 per kWh by 2030.

Updated April 2025
Insufficient Progress

Short-duration storage: $165 per kWh

Long-duration storage: Limited Data

Source: BloombergNEF, 2024

2.4
Coal & Gas

Stop the build-out of new coal and gas plants immediately; retire or zero out emissions from existing plants by 2040.*

Updated April 2025
Code Red

Now in operation globally: 6,538 coal-fired plants and 7,986 gas plants

Source: Global Energy Monitor, 2025

 

2.5
Methane Emissions ↓ 3 Gt

Reduce flaring and eliminate leaks and venting from coal, oil, and gas sites by 2030.

Updated April 2025
Code Red

3 gigatons of methane emissions from the energy sector in 2023 (CO2 equivalent)

2.6
Heating & Cooking ↓ 1.5 Gt

Cut fossil fuels for heating and cooking in half by 2040.*

Updated April 2025
Failing

In 2022, building heating generated 2.5 Gt of emissions and over 7 billion people used fossil fuels for cooking

2.7
Cleaner Economy

Triple the ratio of GDP to fossil fuel consumption.

Updated April 2025
Insufficient Progress

Global average: $252 of GDP per Exajoule of Fossil Fuel Consumption

3.0
Fix Food
Reduce 9 gigatons of agricultural emissions to 2 gigatons by 2050.
3.1
Farm Soils ↓ 2 Gt

Improve soil health by increasing carbon content in topsoils to a minimum of 3% by 2035.

Updated April 2025
Limited Data

Limited Data

3.2
Fertilizers ↓ 0.5 Gt

Stop overuse of nitrogen-based fertilizers and develop cleaner alternatives to cut emissions in half by 2050.

Updated April 2025
Failing

The world uses 65.4 kilograms per hectare of nitrogen-based fertilizers

Source: Food and Agriculture Organization and Our World in Data, 2024

3.3
Cows ↓ 3 Gt

Cut emissions from beef and dairy consumption by 25% by 2030, 50% by 2050.

Updated April 2025
Code Red

3.3 gigatons of emissions from beef and dairy in 2022

3.4
Rice ↓ 0.5 Gt

Reduce methane and nitrous oxide from rice farming by 50% by 2050.

Updated April 2025
Failing

1.1 gigaton of CO2e resulting from rice production

Source: Our World in Data, 2024

3.5
Food Waste ↓ 1 Gt

Cut food waste to 10% by 2050.

Updated April 2025
Failing

31% of food in the US is wasted

Source: ReFed, 2024

4.0
Protect Nature
Go from 6 gigatons of emissions to -1 gigatons by 2050.
4.1
Forests ↓ 6 Gt

Achieve net zero deforestation by 2030; end logging and other destructive practices in primary forests.

Updated April 2025
Code Red

19.3 million hectares of permanent tree cover loss

Source: Global Forest Watch, 2024

4.2
Oceans ↓ 1 Gt

Protect 30% of oceans by 2030, 50% by 2050.

Updated April 2025
Failing

8.4% of the earth’s oceans are protected

Source: Protected Planet, 2024

4.3
Lands

Expand protected lands to 30% by 2030, 50% by 2050.

Updated April 2025
Insufficient Progress

17.6% of the world’s lands are protected

Source: Protected Planet, 2024

5.0
Clean Up Industry
Reduce 12 gigatons of industrial emissions to 4 gigatons by 2050.
5.1
Steel ↓ 3 Gt

Reduce emissions from steel production 50% by 2030, 90% by 2040.

Updated April 2025
Code Red

3.4 gigatons of emissions from steel production (CO2 equivalent)

Source: Climate TRACE, 2025

5.2
Cement ↓ 2 Gt

Reduce emissions from cement production 25% by 2030, 90% by 2040.

Updated April 2025
Code Red

3 gigatons of emissions from cement production (CO2 equivalent)

Source: UNEP, 2024

5.3
Other Industries ↓ 3 Gt

Reduce emissions from other industrial sources (primarily plastics, chemicals, paper, aluminum, glass, and apparel) 60% by 2050.

Updated April 2025
Code Red

5.1 gigatons emitted from other industries (CO2 equivalent)

Source: Climate TRACE, 2025

6.0
Remove Carbon
Remove 10 gigatons of carbon dioxide per year from the atmosphere.
6.1
Nature-Based Removal ↓ 5 Gt

Increase carbon removal by at least 3 gigatons per year by 2030 and 5 gigatons by 2040.

Updated April 2025
Code Red

0.05 gigatons of nature-based carbon removal being tracked

Source: Climate Focus, 2025

6.2
Engineered Removal ↓ 5 Gt

Remove at least 1 gigaton per year by 2030 and 5 gigatons by 2050.

Updated April 2025
Code Red

Currently, 0.0006 gigatons are being removed annually

Source: CDR.fyi, 2024

7.1
Net Zero Pledges

The five top emitters’ heads of state say their countries will reach net zero by 2050.*

Updated April 2025
Insufficient Progress

China: 2060

U.S.: No target

EU: 2050

India: 2070

Russia: 2060

7.2
Action Plans

The five top emitters are on track to cut emissions in half by 2030.

Updated April 2025
Code Red

2030 trajectory (Policies and action against fair share):

China: <3°C

US: <3°C

EU: <3°C

India: <3°C

Russia: 4°C

 

Source: Climate Action Tracker, 2024

7.3
Carbon Price

National prices on greenhouse gases are set at a minimum of $75 per ton, rising 5% annually.

Updated April 2025
Insufficient Progress

Global average price: $36 per ton

24% of global emissions are covered by a carbon pricing mechanism

 

7.4
Subsidies

Eliminate direct subsidies to fossil fuel companies.

Updated April 2025
Failing

$1.3 trillion in explicit fossil fuel subsidies globally

7.5
Methane

The top five emitters pledge to control flaring, prohibit venting, and mandate prompt capping of methane leaks.

Updated April 2025
Code Red

The top five emitters take the Global Methane Pledge

China – No pledge

US – Pledge

EU – Pledge

India – No pledge

Russia – No pledge

Source: Global Methane Pledge, 2024

7.6
Refrigerants

The top five emitters commit to phasing out hydrofluorocarbons (HFCs).

Updated April 2025
On Track

All five major emitters have ratified the Kigali amendment

8.1
Voters

The climate crisis becomes a top-three issue.

Updated April 2025
Failing

Climate ranked ninth globally out of eighteen top issues

Source: Ipsos, 2025

8.2
Government

A majority of key government officials support the drive to net zero.

Updated April 2025
Limited Data

Limited Data

8.3
Business

100% of Fortune Global 500 companies commit to reach net zero by 2050.

Updated April 2025
Failing

15.0% of Fortune Global 500 Companies have a net zero commitment

Source: Speed & Scale, 2025

Data is pulled from Fortune Global 500 websites to track emissions targets of each corporation

8.4
Education

The world achieves universal education through ninth grade by 2040.

Updated April 2025
Failing

74.7% of students complete education through a ninth-grade level

Source: World Bank, 2024

8.5
Health

The world eliminates pollution-linked mortality by 2040.

Updated April 2025
Insufficient Progress

1.9 years (global average loss of life due to air pollution)

Source: Air Quality Life Index (AQLI), 2025

8.6
Jobs

The global clean energy transition creates 65 million new jobs by 2040.

Updated April 2025
Insufficient Progress

16.2 million people employed in clean energy jobs

9.1
Batteries

10,000 GWh of batteries are produced annually at less than $80 per kWh by 2035.

Updated April 2025
On Track

Production: 3,786 per GWh

Price: $115 per kWh 

Source: BloombergNEF, 2024

9.2
Electricity

The cost of zero-emissions baseload power drops to $0.02 per kWh by 2030.

Updated April 2025
On Track

$0.03 per kWh for utility-scale onshore wind

$0.04 per kWh for utility-scale solar PV

9.3
Green Hydrogen

The cost of producing hydrogen from zero-emissions sources drops to $2 per kg by 2030, $1 per kg by 2040.

Updated April 2025
Failing

$4-$12 per kg, not currently produced at scale

Source: BloombergNEF, 2024

9.4
Carbon Removal

Cost of engineered carbon dioxide removal falls to $100 per ton by 2030, $50 per ton by 2040.

Updated April 2025
Insufficient Progress

Weighted average of $316 per ton of carbon removed through DACCS, not at scale

Source: CDR.fyi, 2025

9.5
Carbon-Neutral Fuels

Cost of synthetic fuel drops to $2.50 per gallon for jet fuel and $3.50 for gasoline by 2035.

Updated April 2025
Failing

Jet Fuel: $2.38 (Traditional) vs. $5.95 (Sustainable)

Vehicle Fuel: $3.24 (Diesel) vs. $3.96 (Biodiesel)

Source: International Air Transport Association, BloombergNEF, and Alternative Fuels Data Center, 2024

Diesel and Biodiesel are U.S. prices

10.1
Financial Incentives

Global government support and incentives for clean energy expand to $600 billion per year.

Updated April 2025
Limited Data

Limited Data

10.2
Government R&D

Public investment in sustainability research and development increases to $120 billion per year.

Updated April 2025
Insufficient Progress

Low carbon R&D globally: $29.4 billion

10.3
Venture Capital

Private investment into cleantech startups totals $50 billion per year.

Updated April 2025
Insufficient Progress

$32.1 billion invested in climate tech startups

Source: BloombergNEF, 2025

10.4
Project Financing

Clean energy project financing rises to $1 trillion per year.

Updated April 2025
Achieved

Clean energy financing is at an all-time high, hitting $1.3 trillion

Source: BloombergNEF, 2025

10.5
Philanthropy

Philanthropic dollars for tackling emissions grow to $30 billion per year.

Updated April 2025
Insufficient Progress

Less than 2% (between $9 billion and $16 billion) of philanthropic giving is dedicated to climate change mitigation

What Should Companies Do on Climate?

What Good Corporate Action Looks Like

Solving our climate crisis will require a transformation of the global economy. Virtually all emissions can be traced back to a corporation, whether public, private, or state-owned. Which means that companies have an outsize opportunity to lead the charge to net zero. 

Our Speed & Scale Plan is grounded in a goal-setting system known as OKRs. You’ll find ten clear objectives–six solutions and four accelerants–with corresponding key results. As spelled out in Key Result 8.3, corporations must commit to zeroing out all greenhouse gas emissions by 2050 and take these five actions:

1. Set a clear net zero goal;
2. Measure and disclose all emissions;
3. Cut emissions;
4. Purchase high-quality carbon offsets;
5. Catalyze the engineered carbon removal industry.

1. Set a clear net zero goal

Making progress on emissions cuts begins with a clear and ambitious goal. Based on the United Nations’ net zero standard, a company’s target must:

1. Cover all greenhouse gases and all three scopes of emissions;
2. Commit to using carbon removal to negate emissions that cannot be cut;
3. Set a deadline no later than 2050, and ideally earlier for easier-to-abate sectors.

Clarity matters. Scope 3, which encompasses supply chains and product usage, accounts for most corporate greenhouse gas emissions. In general, greenhouse gases other than carbon dioxide account for up to half of these emissions. When companies omit Scope 3 or non-carbon gases from their commitments, they may neglect to address the bulk of their emissions. 

As an example, this is what a great goal looks like:

“We are committing to net zero greenhouse gas emissions by 2050 across scopes 1, 2, and 3, and will remove our excess emissions through carbon removal.” 

As a reminder, Scope 1 represents the emissions generated from internal operations. Scope 2 refers to the emissions from purchased energy. Scope 3 contains emissions from a company’s supply chains and product usage.

For corporations looking for best-in-class guidance and quality assurance, the United Nations has endorsed the Science Based Targets initiative’s net zero standard. Organizations can commit to a net zero goal through SBTi here and flesh out the details with the organization’s support over a two-year period.

2. Measure and disclose all emissions

As the saying goes, you can’t manage what you don’t measure. To cut greenhouse gas emissions effectively, corporations need to know how much they’re emitting and where those emissions originate. Emissions must be measured transparently. Platforms such as Watershed or Persefoni can help companies measure, disclose, and track their emissions over time.  

Scopes 1 and 2 are essentially accounting exercises and relatively straightforward to measure. Measuring Scope 3 is more difficult. It will require working with your suppliers and understanding how your products are used. Absolute precision is less important than defining the magnitude and sources of those emissions. 

Some countries already mandate public disclosure of corporate emissions. As more countries update their rules, corporations should partner with CDP (formerly the Carbon Disclosure Project), the gold standard in this arena for the past twenty years, and publish their responses online. 

Disclosure has many benefits. Since one company’s emissions show up in others’ supply chains, greater transparency helps everyone. Transparency also enables informed consumers to reward corporations that are aggressively cutting emissions. 

3. Cut emissions

To start, companies should tackle their largest sources of greenhouse gas emissions. The Speed & Scale action guide highlights these best first steps: 

– Procure clean energy;
– Decarbonize the ways you move people and goods;
– Shrink the carbon footprint of the goods you manufacture.

Again, collaboration will be essential. Companies should work with their suppliers, industry groups, policymakers, and NGOs to solve tough problems and invest in new technology together. For example, when USPS rolls out electric delivery vehicles, it reduces logistics emissions (scope 3) for corporate clients that use them for shipping.

4. Buy high-quality carbon offsets

Offsets enable companies to pay to partially counterbalance their current emissions by helping other entities reduce their own emissions and also by protecting our planet’s natural carbon sinks.

Despite the fact that offsets are often plagued by quality control and transparency issues, they are critical for underwriting causes that require urgent investment. At an average cost of about ten dollars per ton, companies in some industries can offset their entire footprint today as they simultaneously cut their emissions. In the near future, corporations will be able to get public credit for their offsetting. The Voluntary Carbon Markets Integrity Initiative will certify companies that are both aggressively cutting emissions and purchasing sufficient offsets.

5. Catalyze the engineered carbon removal industry

Even after all practical measures are taken to cut emissions, a significant fraction of a company’s emissions may remain. As a global community, we’ll ultimately need to rely on gigaton-scale, engineered carbon removal to eliminate emissions we cannot cut. In the meantime, companies have an important role to play in jumpstarting the removals market.

Engineered carbon removal currently costs more than six hundred dollars per ton, which makes it prohibitive to address a company’s entire emissions footprint. For now, corporations should purchase small amounts of engineered carbon removal –  say, 0.1 percent of their emissions – to help catalyze this young industry. If the five hundred largest companies in the U.S. were to make that commitment, it would amount to a total annual investment of about $8 billion. As the process becomes cheaper, that $8 billion will pay for progressively more removal. The long-term goal is to make the technology cost-effective and enable corporations to buy all the removals they will eventually need to reach net zero. 

Corporate leadership on climate is vital

The world needs companies to establish audacious goals for cutting their greenhouse gas emissions. While corporate leadership on climate matters enormously in its own right, it’s also a proving ground for government action. The outcome of this effort will go a long way toward determining what kind of planet we’ll have for the balance of this century, and beyond.

Additional Resources