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.

POLICY PUSH FOR CLEANER VEHICLES: The Biden administration and Environmental Protection Agency (EPA) moved forward a key component of its ambitious climate agenda by releasing new regulations designed to drive down U.S. transportation emissions. This new regulation gradually tightens the limits on how much pollution cars can release. By 2032, car companies will need to sell mostly electric vehicles (cars with no tailpipe emissions) to meet these stricter standards. The EPA estimates this rule will avoid over seven billion tons of carbon dioxide emissions over the next 30 years. To put it in perspective, that would be equivalent to eliminating all greenhouse gas emissions from the U.S. for an entire year.  

Dive deeper into Speed & Scale

OKRs in the News

🚗 1.0 – Electrify Transportation

  • Charging Roads: Electreon is piloting wireless charging roads–which can recharge a car’s battery while driving on the roads–throughout the U.S., which could address concerns about the range for electric vehicles. (The Wall Street Journal)

  • Price Parity: New electric car prices dropped by about $2,000 in the U.S. last month, bringing EVs closer to price parity with gas-powered cars. (The Washington Post)

  • EV Lifecycle: From the manufacturing of batteries to the usage of the vehicle, EV lifecycle emissions can be 70% lower than combustion vehicles. (Bloomberg)

  • Electrify Trucking: The Biden administration is rolling out its plan for deploying electric vehicle charging and hydrogen fueling infrastructure for long-haul trucking, including increasing the amount of charging stations along key shipping routes. (Bloomberg)

OKR Highlight

OKR Highlight: 1.0 Electrify Transportation

Electrifying transportation isn’t just about passenger cars. We have to slash gigatons in aviation, trucking, and shipping as well. The transportation sector is home to some of the biggest emissions offenders, generating 31% of total U.S. greenhouse gas emissions. It also faces barriers to decarbonization, including unrelenting demand for shipping and high upfront costs. Sustainable aviation fuel alternatives are the path forward, and we’re seeing serious investment in this space. But current sustainable aviation fuels only partly offset emissions from their own combustion. Flying guilt-free in the decades ahead will require scaling the innovations we are seeing in renewable fuel alternatives.

Read more about alternative fuels that could power our planes at

💡 2.0 – Decarbonize the Grid

  • New Advanced Purchasing Mechanism to Spur Clean Energy Innovation: Microsoft, Google, and Nucor are partnering to develop a new demand aggregation model for clean electricity technologies to help bring first-of-its-kind commercial projects to the market. (Google)

  • Offshore Wind Win: The first big offshore U.S. wind farm, South Fork Wind, is complete. The 132 MW wind farm can power 70,000 homes in New York. (Canary Media)

  • IEA Methane Tracker: The IEA reports the fossil fuel industry—which hit record emissions last year—must cut methane emissions 75% by 2030 in order to be on pace for net zero emissions in 2050. The report’s proposed interventions, including changes in operator behavior, equipment upgrades, and capture technology, would require an estimated $170 billion investment by the end of the decade, or roughly 5% of the industry’s 2023 revenue. (Bloomberg)

  • Electricity Demand Surge: The demand for electricity in the United States is unexpectedly surging due to the rise of data centers, factories, and electric vehicles. The nationwide electricity demand is projected to jump from 2.6% to 4.7% in growth over the next five years. (The New York Times)

  • Electricity Demands Investors’ Thoughts: Data center energy demands dominated climate talks at CERAWeek, highlighting the growing competition for limited electricity resources in the U.S.—and AI could make it worse. (Axios)

🐄 3.0 – Fix Food

  • Missing Meat: The Food and Agriculture Organization (FAO)’s food system roadmap does not include a plan for curbing meat consumption, which is one of the most effective ways to cut food emissions. Researchers published a piece calling the FAO out for less-than-transparent methodology and lacking justification for missing these critical interventions. (The Guardian)

  • Reducing Food Waste at Sea: The world’s largest cruise ship serves 10,000 people a day. It reduces food waste by putting leftovers through a microwave-assisted process that turns the food scraps into pellets that can be used as fuel for the ship. (The Wall Street Journal)

🌳 4.0 – Protect Nature

  • Cool Trees: Researchers found a “warming hole,” in the southeast of the U.S. where temperatures have actually cooled over the last 50 years; the result of a reforestation effort in the region. In all, the newer forests cool the eastern U.S. by 1°C to 2°C (1.8°F to 3.6°F) each year. (The Guardian)

  • Climate Policy Tradeoffs: The EU’s upcoming rule bans imports linked to deforestation. It will require companies to tackle deforestation throughout their supply chains for a variety of products. However, companies will need to bring the countries they import from along for the ride, raising questions on how to navigate the economic and political trade-offs demanded by climate change. (The New York Times)

  • Black-led Conservation: The 40 Acre Conservation League, California’s first and only Black-led land trust, is preparing to break ground after acquiring 650 acres of land in Placer County last year. (Essence)

🧱 5.0 – Clean Up Industry

  • Race to Make Concrete Green: Concrete accounts for more than 7 percent of global carbon emissions, according to some estimates, and it is the second-most used material in the world after water. Now, investors are competing to develop more sustainable production methods, including big names like Bill Gates and Jeff Bezos putting their hats (and wallets) in the ring. (The Wall Street Journal)

  • Holcim, For Example: Holcim, the giant Swiss cement and concrete manufacturer and the largest producer outside China, continues to lobby governments to enact legislation that supports the development of lower-carbon materials and incentivizes the implementation of carbon-capture initiatives. (Fast Company)

  • Plastics Treaty: A treaty on plastic reduction, which is likely to cover everything from plastics production to ocean clean-up, is imminent. It’s already gained backing from big purchases of plastic, including companies such as Coca-Cola Co. and Unilever. (Bloomberg)

  • DOE Cleans Up Industry: The Department of Energy announced a $6 billion investment to support clean energy projects in hard-to-abate industries, including cement and steel. This is a monumental move as researchers project a long-term rise in demand for cement in developing countries. (The New York Times)

🧹 6.0 – Remove Carbon

  • Multi-Million Removals: Google will match the U.S. federal government’s purchase of $35 million in carbon removal credits through the Department of Energy’s (DOE) Carbon Dioxide Removal Purchase program. (Google)

  • Major Price Milestone: Spiritus announced plans to build its first direct air capture project in Wyoming and shows serious promise that it can bring costs down to less than $100 per ton, a key benchmark for the technology’s scalability. (Heatmap)

  • Metal Capable of Removing CO2 From the Air: Researchers at Oregon State University have achieved a breakthrough in direct air capture (DAC) technology: When molecules of the metal vanadium are bound with oxygen, they can pull carbon dioxide from the air. This paves the way for the development of more efficient methods for CO2 sequestration. (Oregon Capital Chronicle)

  • We Need to Talk Removal: Representatives of EU member governments warned that large-scale carbon dioxide removal must be a key part of any successful response to climate change. (Financial Times)

🏛️ 7.0 – Win Politics and Policy

  • Growing Market for Green Tax Credits: President Biden’s climate law has created a growing market for green tax credits. Treasury Department data shows companies have registered 45,500 projects for possible sale on a new tax-credit marketplace. (The New York Times)

  • Stubborn Fossil Fuel Subsidies: President Biden’s budget request to Congress was his fourth attempt to eliminate what he called “wasteful subsidies” to an industry that is enjoying record profits. But, the tax incentives have proven difficult to do away with. (The New York Times)

🏃 8.0 – Turn Movements into Action

  • Big Oil Questions Energy Transition: Unsurprisingly, Saudi Aramco CEO Amin Nasser said the current energy transition strategy is failing. He argued the focus should be on reducing emissions, not phasing out oil and gas that are the most serious emissions offenders, because alternative energy sources will be unable to displace fossil fuels at scale. (CNBC)

  • Equitable Clean Energy Access: Microsoft signs on to financially support a new clean energy initiative, the development of Hickory Solar Park, a new community solar project that will facilitate more equitable paths to renewable energy. (ESG Today)

  • Cancer Alley: Residents of “Cancer Alley,” in Louisiana, where people live on the frontlines of some 200 fossil fuel and petrochemical operations, are demanding action from state and federal regulators to protect the air, land, water, and health of Louisiana residents from harms caused by the fossil fuel and petrochemical industry. (Human Rights Watch)

9.0 – Innovate!

  • EV Price Competition Heats Up: The world’s largest maker of batteries for electric cars, China’s CATL, claims it will slash the cost of its batteries by up to 50% this year, amid a price war with the second-largest maker in China, BYD subsidiary FinDreams. (The Conversation)

  • Powering the Future: A new battery technology is helping light up Australia’s homes and businesses without using lithium. Instead, these batteries rely on sodium – which is more plentiful – and they could be another step in the quest for a truly sustainable battery. (BBC)

  • Green Hydrogen is the New Oil: The green hydrogen market is projected to expand from about $1 billion today to $30 billion in 2030, according to MarketsandMarkets. Forbes reports that green hydrogen has the potential to be this century’s “energy king,” with the UAE, Germany, Japan, and South Korea leading the charge on investment. (Forbes)

💰 10.0 – Invest!

  • Climate Adaption Investing: Amid some of the most extreme weather events of our lifetime, “climate adaptation” companies are attracting increased attention from big investors, with BlackRock Investment Institute calling adaptation an emerging investment theme. (Reuters)

Click here to track our progress toward net zero.

For more, follow Speed and Scale on LinkedIn and X.

Share this email with a friend by forwarding it!