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.

CARBON REMOVAL GUIDANCE NEEDED: Who’s buying carbon removal—and are they buying the right amount? Skeptics may look at carbon removal purchasing as a distraction from the primary task of emissions cuts, but the fact remains that it’s an essential ingredient for getting the world to net zero emissions by 2050. Some corporations are already purchasing carbon removal, helping to kickstart a nascent industry. But most companies have yet to do so and are without guidance on just how much of it should be bought, when, and what kind of removal is most effective. Speed & Scale offers a POV on what needs to happen to ensure the world can remove its leftover emissions in time. Read it here.

Big Picture

*Microsoft and Orsted received support from the Danish government for a mammoth 2.7M ton project.

Dive deeper into Speed & Scale

OKRs in the News

🚗 1.0 – Electrify Transportation

  • No, EV Sales are Not Slowing: Data from Bloomberg NEF shows that EV sales were up 47 percent year-over-year and are projected to be up another 32 percent in 2024.  

  • Foreign Manufacturer’s Super Bowl: While the U.S.’s “big three” automakers bailed on EV ads during the Super Bowl, four foreign manufacturers filled the gap with ad spots on their EV efforts.

💡 2.0 – Decarbonize the Grid

  • Record-Breaking Solar Power: Texas set records for solar power, which now accounts for 36 percent of the electricity on the state’s power grid. Renewable energy is helping Texas weather storms more effectively.

  • Record-Breaking Oil Payout: The oil industry’s record $114 billion cash return to investors in 2023 was 76 percent higher than the average payout during its heyday from 2011 to 2014.

  • Orsted’s New Strategic Plan: The offshore wind company’s update to shareholders will make the case that supply chain issues and soaring costs are now contained, laying the basis for a comeback after a very tough year in 2023.

  • M&A Wave in Shale: Diamondback Energy Inc. agreed to buy fellow Permian Basin driller Endeavor Energy Resources LP for $26 billion. The consolidation marks another mega-deal in the long-fragmented shale industry.

  • China Building Coal Plants With “Off Switches”: Renewables are getting cheaper and China’s fossil fuel emissions are set to peak within the next few years. But China is still building coal plants that will run about half the time. They’re turned on or ramped up as needed.

🐄 3.0 – Fix Food

  • Better-Tasting, (Mostly) Plant-Based Foods: Some food startup companies are using meat production byproducts, including animal fat, to make their predominantly plant-based products taste better.

🌳 4.0 – Protect Nature

  • Protecting Coral Reefs: The U.S. Government Accountability Office calls for better budget and accounting practices to conserve our coral reefs.

  • Climate Corp Update: We’re seeing Biden’s American Climate Corp initiative in action. The United States Department of Agriculture is launching the Working Lands Climate Corps to train at least 100 future conservation and climate leaders in climate-smart agriculture.

  • Regenerative Agriculture Gaining More $upport: The global regenerative agriculture market is anticipated to grow from $6 billion to over $24 billion over the next 10 years. This is largely due to rising public sector investments that incentivize this type of farming.

🧱 5.0 – Clean Up Industry

  • Promise of Hydrogen: Hydrogen may be our best bet for decarbonizing heavy industry and long-haul transportation, and China is leading the charge. Most of the hydrogen it makes today comes from fossil fuels, but the country has big plans to scale up green hydrogen production and use the fuel to slash emissions from steel and chemical production.

  • Renewable Cement: A new project that pairs state-of-the-art solar panels with cutting-edge energy management technology may unlock emissions cuts in the cement industry.

  • Cup Craze Backfires: In theory, reusable cups should be better for the environment. But people are buying so many of them as collectibles that it’s actually worse.

  • Electrifying Industry: An electrical revolution is coming to heavy industry, The Economist reports. Cement manufacturers are turning to alternate modes of production, relying on electrolysis or “heat batteries” to decarbonize the industry.

🧹 6.0 – Remove Carbon

  • Novel Government Guidance: The Council of the European Union and the European Parliament have agreed to establish an EU carbon removals certification framework. This guidance is intended to accelerate deployment of high-quality carbon removal and soil emissions reduction activities.

  • Promising Signs for Carbon Removal:’s end-of-year report contains some important insights. Overall carbon removal purchases grew to 4.5 megatons, up from 0.6 megatons in 2022—a step in the right direction, but not nearly where we need to be. Actual carbon removed has doubled, to 125,000 tons.

  • World’s Biggest Carbon Removal Facility: With Bill Gates’ support, a startup is gearing up to kickstart operations this week for what might just become the largest carbon removal facility on the planet. The approach? Move fast and sell cheap, with a sales price of $100 per ton. By the end of this year, the plant is projected to remove 15,000 metric tons of carbon dioxide from the atmosphere.

OKR Highlight

OKR Highlight: 6.0 Remove Carbon

To enable carbon removal technology to be scaled, the Speed & Scale team urges voluntary standards setters to give companies more clarity on how much removal to purchase. Our plan’s target for engineered carbon removal is to remove one gigaton of CO2—one billion tons—per year by 2030, then three billion tons by 2040 and five billion tons by 2050. How can we get there?

For our answer, check out this blog on the Speed & Scale website.

🏛️ 7.0 – Win Politics and Policy

  • Natural Gas Permit Freeze: President Biden put a temporary pause on permit approvals for new liquid natural gas (LNG) export facilities while the Department of Energy reviews the issue. The U.S. has sharply expanded LNG exports over the last few years, and questions abound. Does exporting more LNG harm or help the environment? What will happen to domestic electricity and heating prices if we export more LNG? Will the European Union have enough LNG without higher levels of U.S. exports?

  • EU’s IRA: The EU passes the Net-Zero Industry Act, which aims to boost industrial deployment of net-zero technologies needed to achieve their climate goals. The idea is to leverage the strength of a vast single market to reinforce Europe’s leadership in industrial green technologies.

  • Podesta Replaces Kerry: POLITICO reports that John Podesta has been tapped to replace John Kerry as Biden’s climate envoy. The veteran Democratic strategist has a long history in climate politics, both at home and on the international stage.

  • Peak Emissions for China?: China is rapidly expanding its use of renewable energy, to the point that international climate monitors predict the country’s greenhouse gas emissions will peak earlier than expected, possibly as soon as this year.

  • GDP and GHG Should Cut Ties: Through most of modern economic history, economic growth has been closely tied to a rise in greenhouse gas emissions. But the IEA reports that this relationship is changing.

  • New Carbon Rules for China: New rules give China’s ecological environment department responsibility for managing the country’s carbon emissions trading scheme, including a crackdown on false information.

🏃 8.0 – Turn Movements into Action

  • Norway Criticizes ExxonMobil Suit: Norway, which boasts the world’s biggest sovereign wealth fund, has sharply criticized ExxonMobil for suing two shareholders who pushed the fossil fuel giant to set more aggressive emissions reduction targets.

9.0 – Innovate

  • Gold Hydrogen: With a boost in funding from the U.S. Department of Energy and interest from several climate tech startups, underground drilling just might be a way to scale hydrogen production.

  • Climate Emissions Disclosure Pressure: Software startups that help companies track and reduce their greenhouse gas pollution are raising serious cash. Watershed has raised $100 million in its Series C fundraising, bringing its valuation to $1.8 billion and reflecting the growing movement around carbon disclosure.

💰 10.0 – Invest

  • Go Green: A new investment fund, Brookfield, raises $10 billion for clean energy deployment despite recent challenges facing these projects and rising anti-ESG sentiment in the financial services industry.

  • Climate Tech Investing: Despite the obstacles of high interest rates and rising costs, climate tech venture investment stayed relatively steady, totaling $51 billion in 2023.

  • Investing in Developing Nations: While emerging economies suffer the most from the climate crisis, they lack funding for renewable energy solutions because investors are wary of the risks. A new public-private partnership, The Green Guarantee Company, aims to help fix that problem by guaranteeing climate-linked loans. The GGC recently launched with $100 million in funding.

Click here to track our progress toward net zero.

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