EVs achieve price and performance parity with new combustion-engine vehicles in the U.S. by 2024, and in India and China by 2030.
$64,338 (average EV) vs. $44,801 (average full-size car)
Data: Kelley Blue Book
Date: June 2022
One of two new personal vehicles purchased worldwide are EVs by 2030, 95% by 2040.
EV share of global auto sales rose from 4% in 2020 to nearly 9% in 2021.
Data: BloombergNEF
Date: June 2022
All new buses are electric by 2025; 30% of medium and heavy trucks purchased are zero-emissions vehicles by 2030; 95% of trucks by 2045.
Over the past decade, e-bus share has grown from 1% to 44%. But the share of sustainable trucks is at just 1.2%—and since the truck market is 70X larger, the KR sits at “limited progress.”
Data: BloombergNEF
Date: 2021
50% of miles driven globally (two- and three-wheelers, cars, buses, and trucks) are electric by 2040, 95% by 2050.
EV global share of miles driven: 7.2%
Data: BloombergNEF
Date: 2021
Low-carbon fuel powers 20% of miles flown by 2025; carbon-neutral fuel powers 40% of miles flown by 2040.
<0.1% of flights use sustainable aviation fuel (SAF)
Data: IATA
Date: 2019
Projected launch of first carbon-neutral ships: 2023.
Data: Maersk
Date: 2021
50% of electricity worldwide comes from zero-emissions sources by 2025, 90% by 2035.
Global market share of zero-emissions electricity: 39%
Data: IEA
Date: 2020
Solar and wind are cheaper to build and operate than emitting sources in all countries by 2025
Two-thirds of the world’s population lives in nations where renewable sources are cheaper than fossil fuels.
Data: BloombergNEF
Date: 2021
Electricity storage drops below $50 per kWh for short duration (4–24 hours) by 2025, $10 per kWh for long duration (14–30 days) by 2030.
Short-term storage: $288/kWh
Long-term storage: $265/kWh
Data: BloombergNEF
Date: 2021
No new coal or gas plants from 2023 on; existing plants to retire or zero out emissions by 2025 for coal and by 2035 for gas.*
Now under construction globally: 345 coal-fired units and 438 gas-plant units.
Data: Global Energy Monitor
Date: Jan. 2022
Eliminate leaks, venting, and most flaring from coal, oil, and gas sites by 2025.
While methane emissions from drill sites dropped 5% in 2020, due to decreased production of oil & gas during the pandemic, they likely rebounded in 2021.
Data: IEA
Date: 2020
Cut gas and oil for heating and cooking in half by 2040.*
Fossil fuels power 35% of cooking stoves and heat 57% of U.S. homes
Data: U.S. Census Bureau
Date: 2019
To more than triple the energy productivity rate by 2035, we must phase out fossil fuels while also boosting energy efficiency.
World average: $224 in GDP per $1 of fuel consumption.
Data: BP Statistical Review and World Bank
Date: 2020
Improve soil health through practices that increase carbon content in topsoils to a minimum of 3%.
1.4%: Average carbon content of farm soils in the U.S.
Data: U.S. Dept. of Agriculture
Date: 2013; published 2017
Stop the overuse of nitrogen-based fertilizers and develop greener alternatives to cut emissions in half by 2050.
69.8 kilograms per hectare: global average for nitrogen-based fertilizers
Data: FAO
Date: 2019
Promote lower-emissions proteins, cutting annual consumption of beef and dairy 25% by 2030, 50% by 2050.
U.S. per capita weekly consumption: 1.1 lbs. of beef and 3.8 lbs. of dairy
Data: OECD
Date: 2020
~0.5 million of 150 million (less than 1%) of small rice farmers certified as sustainable
Data: WRI and the Sustainable Rice Platform
Date: 2014 and 2021
Lower the food waste ratio from 40% of all food produced to 10%.
40%: estimated global portion of food that is wasted
Data: WWF and Tesco
Date: 2021
Achieve net zero deforestation by 2030; end destructive practices and logging in primary forests.
3.75 million hectares of primary forest lost annually
Data: Global Forest Watch
Date: 2021
Eliminate deep-sea bottom trawling and protect at least 30% of oceans by 2030, 50% by 2050.
8% of coastal oceans are protected
Data: Protected Planet
Date: June 2022
17% of global lands are protected
Data: Protected Planet
Date: June 2022
Reduce total carbon intensity of steel production 50% by 2030, 90% by 2040.
1.9 tons of CO2 emitted per 1 ton of steel produced
Data: WorldSteel.org
Date: 2020
Reduce total carbon intensity of cement production 25% by 2030, 90% by 2040.
0.7 tons of CO2 emitted per 1 ton of cement produced
Data: IEA
Date: 2020
Reduce emissions from other industrial sources (primarily plastics, chemicals, paper, aluminum, glass, and apparel) 80% by 2050.
5 gigatons emitted by other industries
Data: UNEP
Date: 2020
Remove at least 1 gigaton per year by 2025, 3 gigatons by 2030, and 5 gigatons by 2040.
1.3 million metric tons of nature-based carbon removal being tracked
Data: Microsoft Carbon Removal
Date: 2021
Remove at least 1 gigaton per year by 2030, 3 gigatons by 2040, and 5 gigatons by 2050.
Currently, 44 metric tons is being removed annually.
Data: BloombergNEF
Date: 2020
Each country enacts a national commitment to reach net-zero emissions by 2050 and gets at least halfway there by 2030.
EU and UK: cut emissions in half by 2030; net zero by 2050
U.S.: President Biden pledged to a 50% cut by 2030; Congress has yet to act
China: net zero by 2060
India: net zero by 2070
Russia announced net zero 2060, though no formal adoption
End direct and indirect subsidies for fossil fuel companies and for harmful agricultural practices.
The top five emitters still pay a total of nearly $4 trillion in fossil fuel subsidies. Globally, nations are paying $5.9 trillion, including healthcare spending due to air pollution and other indirect costs.
Source: IMF
Date: 2020
Set national prices on CO2 emissions at a minimum of $55 per ton, rising 5% annually.*
EU: $100/ton; member states implement their own price schedules
UK: $20/ton
China: $10/ton
U.S.: No national price. 12 states set prices
India: No national price
Russia: No national price
Prohibit HFCs as refrigerants and ban single-use plastics for all non-medical purposes.
U.S. aims to reduce HFCs 85% by 2036.
The EU aims to reduce HFCs 67% from 2010 by 2030.
China aims to reduce HFCs 68% by 2025.
Double (at minimum) global public investment into research and development; quadruple it in the United States.
China: $7.9 billion
U.S.: $9.4 billion
EU + UK: $8.7 billion
India: $110 million
Russia: little to no allocation
Data: IEA
Date: 2020
The climate crisis is a top-two voting issue in the twenty top-emitting countries by 2025.
Climate’s rank as top issue: #9 in the U.S., #8 globally, #2 (tied) in Europe
Data: Gallup (May 2022), Ipsos (June 2022), and Eurobarometer (Jan. 2022)
*different surveys can only be roughly compared to each other
A majority of government officials—elected or appointed—will support the drive to net zero.
47% of heads of state (7 of 15 top-emitting nations)
27% of national legislatures (4 of 15 top-emitting nations)
Data: EDGAR
Date: 2021
100% of Fortune Global 500 companies commit immediately to reach net zero by 2040.
2.2% of Global 250 companies committed to net zero by 2040 across Scope 1-2-3 emissions
55% publicly report their Scope 1-2-3 emissions (KR 8.3.1)
6% of companies committed to net zero 2030 across Scope 1 and Scope 2 (KR 8.3.2)
Data: Fortune Global 500
Date: June 2022
The world achieves universal primary and secondary education by 2040.
129 million girls out of school
Data: UNICEF
Date: 2021
Eliminate the gaps among racial and socioeconomic groups in mortality rates from air pollution by 2040.
2.2 years (global average loss of life due to air pollution)
5 years (lost lifespan in S. Asia, Niger Delta, other low-income regions)
Data: Air Quality Life Index (AQLI)
Date: 2021
The global clean energy transition creates 65 million new jobs, equitably distributed and outpacing the loss of fossil fuel jobs.
12 million people employed directly and indirectly
Data: IRENA
Date: 2020
Produce 10,000 GWh of batteries yearly at less than $80 per kWh by 2035.
Production: ~834GWh
Price: $132 per kWh
Sources: BloombergNEF
Date: 2021
Cost of zero-emission baseload power reaches $0.02 per kWh by 2030, with peak-demand power reaching $0.08 per kWh.
6 cents/kWh cost for utility-scale solar
Data: IRENA
Date: 2020
Cost of producing hydrogen from zero-emissions sources drops to $2 per kg by 2030, $1 per kg by 2040.
$2-$12 per kg, no production at scale
Source: BloombergNEF
Date: 2021
Cost of engineered carbon dioxide removal falls to $100 per ton by 2030, $50 per ton by 2040.
$600 to $1,200 per ton of carbon removed, not at scale
Source: Bloomberg and Climeworks
Date: 2021
Cost of synthetic fuel drops to $2.50 per gallon for jet fuel and $3.50 for gasoline by 2035.
Jet Fuel: $4.22 (Traditional) vs. $22.13 (Sustainable) ~ 5.3X
Vehicle Fuel: $5.72 (Diesel) vs. $6.26 (Biodiesel) ~ 1.1X
U.S. prices when available. No pricing or availability for carbon-neutral fuels. Limited availability and price transparency for sustainable aviation fuels.
Data: IATA, BloombergNEF, GlobalPetrolPrices.com, AFDC
Date: June 2022
Increase global government incentives and support for clean energy from $128 billion to $600 billion per year.
$128 billion in global government incentives for renewable power generation, which is 20% to 35% of total direct fossil fuel subsidies.
Source: IRENA
Date: 2020
Increase public-sector funding of energy R&D from $9.2 billion to $40 billion a year in the U.S.; other countries should aim to triple funding.
U.S. energy R&D budget: $9.2 billion.
Source: IEA
Date: 2021
Expand investment of capital into U.S. startup companies to $50 billion per year.
$53.7 billion invested in U.S. climate tech startups, up from $17 billion in 2020.
Source: BloombergNEF
Date: 2021
More than double zero-emissions project financing by 2025, from $431 billion to $1 trillion per year.
Clean energy financing reached an all-time high last year, hitting $431 billion.
Source: BloombergNEF
Date: 2021
Increase philanthropic dollars from $10 billion to $30 billion per year.
Less than 2% (between $6 billion and $10 billion) of philanthropic giving is dedicated to climate change mitigation.
Source: ClimateWorks Foundation
Date: 2020
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Speed & Scale urges you to act–to go for the gigatons and focus on where you can be most impactful in cutting greenhouse gas emissions and containing global warming.
When assessed on a planetary scale emissions are measured by the gigaton.
The total amount of greenhouse gases we can safely emit is known as our carbon budget. For humanity to avoid a runaway climate catastrophe, it is vital that we stick to this budget.
