An Action Plan for Solving Our Climate Crisis Now

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

Achieve price parity between EVs and gas-powered vehicles in the U.S. by 2024, in India and China by 2030.

Updated April 2024
Insufficient Progress

$54,288 (average EV) vs. $47,209 (average full-size car) in the U.S.

Source: Kelley Blue Book, 2023


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

Updated April 2024
On Track

EV share of car sales was 17.7% in 2023

(BEVs and PHEVs)

Source: BloombergNEF, 2024


Electrify all new buses by 2025.

Updated April 2024
Insufficient Progress

43% of new bus purchases were electric in 2023

Source: BloombergNEF, 2023


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

Updated April 2024

Electric share of global truck sales was 2% in 2023

(BEVs, FCVs, and PHEVs)

Source: BloombergNEF, 2023

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 2024
Insufficient Progress

EV global share of miles driven across road vehicles in 2022: 10.4%

(BEVs, FCVs, and PHEVs)

Source: BloombergNEF, 2023

Planes ↓ 0.3 Gt

Increase low-carbon fuel (SAF) to 20% of all aviation fuel by 2025; zero-emissions fuel to 40% by 2040.

Updated April 2024

0.4% of fuel use is low carbon (SAF)

Source: BloombergNEF, 2024

Maritime ↓ 0.6 Gt

Shift all new construction to “zero-ready” ships by 2030; zero out emissions for the shipping industry by 2050.

Updated April 2024

Zero percent of new ships are carbon-neutral

Source: Global Martime Forum, 2023

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

Tap emissions-free sources to generate 50% of electricity worldwide by 2025, 90% by 2035.

Updated April 2024
Insufficient Progress

39% of electricity came from emissions free sources in 2022

Source: Energy Institute, 2023

Solar & Wind

Make solar and wind cheaper than fossil fuels in all countries by 2025.

Updated April 2024
On Track

59% of the world’s population lives in nations where renewable sources are cheaper than fossil fuels

Source: BloombergNEF, 2024


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.

Updated April 2024

Short-term storage: $263/kWh

Long-term storage: New technologies needed

Source: BloombergNEF, 2023

Coal & Gas

Eliminate new coal and gas plants from 2024 on; retire or zero out emissions in existing plants by 2025 for coal and by 2035 for gas.*

Updated April 2024
Code Red

Now in operation globally: 6,580 coal-fired plants and 9,278 gas and oil plants

Source: Global Energy Monitor, 2024

As of 2023, separate figures for oil and gas plants are not available.


Methane Emissions ↓ 3 Gt

Reduce flaring and eliminate leaks and venting from coal, oil, and gas sites by 2025.

Updated April 2024
Code Red

Methane emissions from the energy sector were 3 gigatons in 2023

Heating & Cooking ↓ 1.5 Gt

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

Updated April 2024

In 2021, building heating generated 2.5 Gt of emissions and over 7 billion people used fossil fuels for cooking

Cleaner Economy

Triple the ratio of GDP to fossil fuel consumption.

Updated April 2024

Global average: $241 of GDP per Exajoule of Fossil Fuel Consumption

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

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

Updated May 2024
Limited Data

Limited Data

Fertilizers ↓ 0.5 Gt

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

Updated April 2024

The world uses 65.5 kilograms per hectare of nitrogen-based fertilizers

Source: Food and Agriculture Organization and Our World in Data, 2023

Cows ↓ 3 Gt

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

Updated April 2024
Code Red

3.3 gigatons of emissions from beef and dairy in 2021

Rice ↓ 0.5 Gt

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

Updated April 2024

1.1 gigaton of CO2e resulting from rice production

Source: Our World in Data, 2024

Food Waste ↓ 1 Gt

Cut food waste to 10% by 2050.

Updated April 2024

38% of food in the US is wasted

Source: ReFed, 2022

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

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

Updated April 2024
Code Red

17.6 million hectares of permanent tree cover loss

Source: Global Forest Watch, 2022

Oceans ↓ 1 Gt

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

Updated April 2024

8.2% of coastal oceans are protected

Source: Protected Planet, 2024


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

Updated April 2024

16% of global lands are protected

Source: Protected Planet, 2024

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

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

Updated April 2024
Code Red

1.9 metric tons of CO2 per metric ton of crude steel cast

Source: WorldSteel, 2023

Cement ↓ 2 Gt

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

Updated April 2024
Code Red

0.6 metric tons of CO2 per metric ton of cement produced

Other Industries ↓ 3 Gt

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

Updated April 2024
Code Red

5 gigatons emitted from other industries

Source: Climate TRACE, 2024

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

Remove at least 3 gigatons per year by 2030 and 5 gigatons by 2040.

Updated April 2024
Code Red

0.02 gigatons of nature-based carbon removal being tracked

Source: Climate Focus, 2024

Engineered Removal ↓ 5 Gt

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

Updated April 2024
Code Red

Currently, 0.0002 gigatons are being removed annually

Source:, 2024

Net Zero Pledges

Each country commits to reach net zero by 2050.*

Updated April 2024
Insufficient Progress

China: net zero by 2060

U.S.: net zero by 2050

EU: net zero by 2050

India: net zero by 2070

Russia: net zero by 2060

Action Plans

Each country is on track to cut emissions in half by 2030.

Updated April 2024
Code Red

2030 trajectory:

China: 4°C

US: 3°C

EU: 2°C

India: 4°C

Russia: 4°C


Source: Climate Action Tracker, 2023

Carbon Price

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

Updated April 2024
Insufficient Progress

Global average price: $33 per ton

23% of global emissions are covered by a carbon pricing mechanism



Direct subsidies to fossil fuel companies are eliminated.

Updated April 2024
Code Red

$1.3 trillion in explicit fossil fuel subsidies globally


Control flaring, prohibit venting, and mandate prompt capping of methane leaks.

Updated April 2024
Code Red

Countries representing 50% of global methane emissions have signed the global methane pledge

Source: Global Methane Pledge, 2024


Countries commit to phasing out hydrofluorocarbons (HFCs).

Updated April 2024
On Track

All five major emitters have ratified the Kigali amendment


The climate crisis becomes a top-three issue.

Updated April 2024

Climate’s rank as top issue: seventh globally

Source: Ipsos, 2023



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

Updated April 2024
Limited Data

Limited Data


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

Updated April 2024

9.2% of Fortune Global 500 Companies have a net zero commitment

Source: Speed & Scale, 2024

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

Education Equity

The world achieves universal primary and secondary education by 2040.

Updated April 2024

77% of students complete lower secondary school

Source: World Bank, 2023

Health Equity

The world eliminates gaps in pollution-linked mortality rates among racial and socioeconomic groups by 2040.

Updated April 2024

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

Source: Air Quality Life Index (AQLI), 2023

Economic Equity

The global clean energy transition creates 65 million fairly distributed new jobs by 2040, outpacing the loss of fossil fuel jobs.

Updated April 2024
Insufficient Progress

13.7 million people employed directly and indirectly


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

Updated April 2024
On Track

Production: 2,592 per GWh

Price: $139 per kWh 

Source: BloombergNEF, 2023


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

Updated April 2024
On Track

$0.03 per kWh for utility-scale onshore wind

$0.05 per kWh for utility-scale solar PV

Green Hydrogen

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

Updated April 2024

$2-$12 per kg, not currently produced at scale

Source: BloombergNEF, 2023

Carbon Removal

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

Updated April 2024
Code Red

Average of $715 per ton of carbon removed, not at scale

Source:, 2024

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 2024

Jet Fuel: $2.94 (Traditional) vs. $7.35 (Sustainable)

Vehicle Fuel: $4.02 (Diesel) vs. $4.76 (Biodiesel)

Source: International Air Transport Association, BloombergNEF, and Alternative Fuels Data Center, 2023

Diesel and Biodiesel are U.S. prices

Financial Incentives

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

Updated April 2024
Limited Data

Limited Data

Government R&D

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

Updated April 2024
Insufficient Progress

Low carbon R&D globally: $23 billion

Venture Capital

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

Updated April 2024

$51 billion invested in climate tech startups

Source: BloombergNEF, 2024

Project Financing

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

Updated April 2024
On Track

Clean energy financing is at an all-time high, hitting $743 billion

Source: BloombergNEF, 2024


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

Updated April 2024
Insufficient Progress

Less than 2% (between $8 billion and $13 billion) of philanthropic giving is dedicated to climate change mitigation

Welcome to Zeroing In by Speed & Scale, where we cut through the noise to deliver a data-driven update on progress toward net zero.

A TURNING POINT TO KICK OFF 2024: Britain is the first G20 country to halve its carbon emissions from its peak. To make this even more impressive, the UK reached this milestone with a far larger population and economy than when its emissions hit its highest point 50 years ago.

Big Picture

CONTEXT: The path to achieving such a dramatic reduction is no secret: It requires unwavering commitment to phasing out coal and turning to clean energy instead. While Britain’s achievement is cause for celebration, the UK generates less than 1 percent of global greenhouse gas emissions. Many G20 countries–notably Argentina, China, India, Indonesia, and Mexico–are still setting new emissions records each year.

Dive deeper into Speed & Scale

OKRs in the News

🚗 1.0 – Electrify Transportation

  • Tax Credits: The new list of EV models eligible for the $7,500 tax credit excludes vehicles that use certain Chinese-made parts.

  • BYD #1: BYD just pulled ahead of Tesla to become the world’s biggest producer of battery passenger cars, and it shows no signs of slowing.

  • 🛵 & 🛺: Two- and three-wheeled vehicles are leading the shift to electricity, especially in Asia and Africa. The popularity of electric bicycles, scooters, and motorcycles has reduced global oil demand by over 1 million barrels a day. It has also helped to reduce air pollution.

  • Charging Delays: To expand adoption of electric vehicles, quelling charging anxiety is essential. But an investigation by POLITICO found that a multibillion-dollar federal program has yet to install any chargers. Worse yet, fewer than half the states have even begun to take bids to build the chargers.

    2X the Buses: The number of electric school buses, a leading category in the decarbonization of transportation, doubled in the U.S. in 2023.

💡 2.0 – Decarbonize the Grid

  • Peaking in 2024: An analysis by Ember, an energy think tank, found that emissions from the power sector, the world’s single biggest polluter, are likely to peak this year.

  • Navigating the Jones Act: Buffeted by high interest rates, an immature supply chain, and a lack of U.S.-built ships that can haul blades for wind turbines out to sea, the offshore wind industry is blowing off course. The federal Jones Act stipulates that only domestically built, owned, and crewed ships can operate in U.S. waters. The good news: The first-ever vessel that can meet these requirements is now under construction.

  • Methane Promises: Nearly 50 oil and gas companies worldwide pledged to shore up leaky methane systems by 2030 at COP28. If the companies keep their promises, this could rapidly reduce emissions of the potent gas and forestall some climate change effects.

    Canceled Contracts: BP and Equinor got the wind knocked out of them, canceling a major offshore wind contract near New York and leaving plans to provide hundreds of thousands of people with clean power in limbo.

🐄 3.0 – Fix Food

  • Don’t Say Vegan: Can tweaking food descriptions boost consumption of climate-friendly options? A forthcoming study found that replacing the term “vegan” with labels that emphasize food item benefits, such as “healthy” and “sustainable,” led more people to choose carbon-friendly options.

  • Global Food Agreement: Countries made incremental progress to lessen emissions from global food production. More than two thirds of the world’s countries endorsed an agreement—albeit a non-binding one—to improve the sustainability of the global food system.

  • Emissions Disclosures For Dairy: Six of the world’s largest dairy companies agreed to begin disclosing their methane emissions as part of a new global alliance launched at the United Nations climate summit.

🌳 4.0 – Protect Nature

  • Sustainable Investment News: The New York Stock Exchange is proposing a new investment category: “natural asset companies.” It would include companies that conserve, restore, or sustainably manage ecosystems.

  • Deforestation Declining: It appears that deforestation declined across the tropics as a whole in 2023 due to policy changes protecting the Amazon, which has more than half the world’s remaining primary tropical forests.

    Snow’s Declining Too: Significant decreases in snow—less than half of the typical snowpack—not only disappoint skiers in the west, but also point to deeper economic concerns that come with a changing climate.

🧹 6.0 – Remove Carbon

  • Carbon Capture Pricing: Wright’s Law hypothesizes that as production scales, costs will reliably fall. The principle has powered the growth of wind, solar, and batteries. Can the same hold true for carbon capture? Scaling this technology will enable it to reach the magic number of $100 per ton of carbon removed.

  • Mini Direct Air Capture: A new company is developing a “mini direct air capture” plant, powered by solar, that can be deployed more widely than traditional geothermal power and will be sold directly to consumers—for $762,000.

OKR Highlight: 6.0 Remove Carbon

Even if we achieve our first five objectives, we would still be left with 10 gigatons of heat-trapping gasses each year. This is where carbon removal comes in.

This is not to be confused with carbon capture, which is defined as specifically the trapping of carbon dioxide (CO2) emissions produced from industrial processes or power generation (i.e. oil and gas) before they are released into the atmosphere. While “carbon capture” is a specific method focused on capturing emissions at their source, “carbon removal” includes a broader set of approaches that aim to remove carbon dioxide from the atmosphere.

Critics are skeptical of both carbon removal and capture, alleging these practices prop up the fossil fuel industry. We argue that carbon removal—actively removing carbon dioxide from the atmosphere, rather than just capturing emissions before release—is an essential part of the toolkit to achieve net-negative emissions.

The world’s largest direct air capture plant, operated by Climeworks in Iceland, recently turned two years old. Lessons from its early operation will improve the efficiency and lower the price point of future versions, leading the company to a more optimal design that can be scaled.

🏛️ 7.0 – Win Politics and Policy

  • Hydrogen Tax Credits: The Biden administration released its highly anticipated hydrogen tax plan, giving out billions of dollars in tax credits to hydrogen producers in an effort to build out the industry. The U.S. credit is the most generous in the world for hydrogen production.

🏃 8.0 – Turn Movements into Action

  • Phase Down or Phase Out: At COP28, representatives of nearly 200 countries agreed to transition away from fossil fuels. The agreement pushed the conference into overtime as delegates debated the language for the final text. In the end, the parties removed a more ambitious call for a “phase out” of fossil fuels. They settled upon “transitioning away from fossil fuels in energy systems, in a just, orderly and equitable manner … so as to achieve net zero by 2050 in keeping with the science.”

  • Disclosure Rules Stall: The SEC’s failure to complete an ambitious climate-related agenda in the face of serious political opposition may cause further stalling on climate disclosure rules as we go into an election year.

9.0 – Innovate

  • AI Climate Solutions: Can big data unleash nuclear power? Microsoft is experimenting with generative artificial intelligence to see if AI can help streamline and expedite the cumbersome paperwork for nuclear regulatory approval. The plants would then sustainably power the company’s electricity-intensive computers.  

  • 2024 Innovation List: We are ringing in the new year with new, promising innovations. From carbon removal—one in central California using crushed mineral powder to pull CO2 from the air—to solar-powered cruise ships, the year looks promising for climate tech.

💰 10.0 – Invest

  • World Bank Climate Funding: Under Ajay Banga’s leadership, 45 percent of the World Bank’s lending is now going toward climate-related projects, including new renewable energy, up from 36 percent in 2022. Banga replaced David Malpass, who stepped down last February after coming under fire for disputing the science of climate change.

  • High Interest vs. Clean Energy: As central banks seek to tame inflation by raising interest rates, clean energy projects have languished.

  • Big Green Project Returns: For the second year in a row, global banks made more money underwriting bonds and providing loans for green projects than they earned from financing oil, gas, and coal activities—$3 billion for green projects, versus $2.7 for fossil fuels.

Click here to track our progress toward net zero.

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