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.

COP28 OR COP-OUT: COP28 is well underway, and as always, we’re tracking the announcements that will bring us toward net zero and the ones that will hold us back. This is set to be the largest COP ever, and here are some of the stories that have caught our attention so far:

  • Loss and damage fund agreement: A climate disaster fund victory kicked off the climate summit, with $429 million pledged to help the world’s poorest and most vulnerable countries pay for irreversible impacts of climate disaster. This comes on the heels of data released by the UN stating wealthy countries have been rolling back funding commitments to help developing countries cope with the effects of climate change.

  • Down vs. out on oil: The COP28 president-designate Sultan Al Jaber has denied allegations that the UAE team is using COP28 to broker fossil fuel deals, but the discussion on oil remains heated. POLITICO reports that a global deal to phase out fossil fuels is facing pushback.

  • Or none of the above: Saudi Arabian Energy Minister Prince Abdulaziz bin Salman says the kingdom won’t agree to a text that calls for the phase-down of fossil fuels at the COP28 summit in Dubai, which would block any such hope of action.

Big Picture

Source: CBS News

Dive deeper into Speed & Scale

OKRs in the News

🚗 1.0 – Electrify Transportation

  • A Virgin Atlantic flight from London to New York City used only fossil-free jet fuel. It lasted eight hours, spanned 3,500 miles, and its fuel emits 70% less carbon than petroleum-based jet fuel. This represents a major milestone for long-haul green flight, but should be noted that sustainable aviation fuels currently make up less than 1% of the current jet fuel consumption.

  • Maersk recently announced it has entered into the shipping industry’s first large-scale agreement for green methanol with China’s Goldwind. Investing in green fuels is pivotal for reaching net-zero emissions by 2040.

  • Despite negative EV headlines over the past few weeks, the data tells a different story. Sales of hybrids, plug-in hybrids, and BEVs have accounted for 16.0% of all new light-duty vehicle sales in the United States so far this year, compared with 12.5% in 2022 and 9.0% in 2021.

  • BNEF lithium battery survey found that battery prices have dropped by 14% to a record low of $139/kWh. Continued investment in R&D, manufacturing process improvements, and capacity expansion across the supply chain will help reduce costs over the next decade.

💡 2.0 – Decarbonize the Grid

  • A new IEA report urges action on energy efficiency at COP28: As momentum builds around the global target to double efficiency progress from the 2022 level of 2% to 4% each year until 2030, international collaboration has a major role to play in shaping future energy efficiency and demand pathways.

  • China is on track to install a record 230 gigawatts of new solar and wind capacity this year, roughly triple the total for the rest of the world, according to a report from Wood Mackenzie.

  • A controversial L.A. Times op-ed weighs one of the tradeoffs in the push for net zero: The requisite scale of solar and wind projects could mar our natural landscape.

  • Big Oil currently accounts for a paltry 1% of global financing for clean energy. As a whole, the industry spent around $20 billion on clean energy, representing less than 3% of its total capital budget.

  • South Africa and Indonesia are backtracking on commitments they made to burn less fossil fuel under agreements known as Just Energy Transition Partnerships, or JETPs, which offered them $28.5 billion from the U.S. and other wealthy nations.

🐄 3.0 – Fix Food

  • Restaurants, the second largest source of food waste in the U.S., are using AI to mitigate the problem.

  • U.N. Food & Agriculture Organization guidance focuses on curbing our appetites for meat. Wealthier nations that over-consume meat will be advised to limit their intake while developing countries will need to improve their livestock farming.

  • The Bezos Earth Fund called for a commitment to transforming our food systems as countries signed a declaration announced at COP28 to better integrate food into their climate goals, announcing $57 million in food-related grants.

  • Six global food companies stepped forward at the UN climate conference to announce an alliance to help dairy farmers reduce methane emissions and make farming more sustainable.

🌳 4.0 – Protect Nature

  • A first-of-its-kind solar canal project in Arizona may be the key to conserving the Gila River.

  • Nature-based solutions are key to addressing biodiversity loss, according to COP28 conversations. Activists, such as Audubon advocate for furthering conservation efforts.

🧹 6.0 – Remove Carbon

  • Climate philanthropies Bezos Earth Fund, Bloomberg, and CIFF signed a pledge demonstrating our support for the mobilization of capital through high-integrity carbon finance tools.  

  • The IEA came out against carbon capture as a strategy to reach net zero, but ExxonMobil CEO punches back: “There is no solution set out there today that is at the scale to solve the problem.”

🏛️ 7.0 – Win Politics and Policy

  • The Inflation Reduction Act effectively created a new growing market where small companies can gain access to funding to drive investments in emissions-reduction technologies in lieu of tax credits, and the marketplace is growing exponentially.

  • California’s new California law, SB 410, takes a comprehensive approach to incentivizing the buildout of the state’s clean energy grid which has proven difficult because the state’s power grid isn’t growing fast enough to support a surge of EVs.

🏃 8.0 – Turn Movements into Action

  • The Economist graded the world’s progress on renewables, adaptation, investment, and other fronts—and came away with some disappointing conclusions.

  • Much has changed since the Paris Accord five years ago – and for the better. The New Climate Institute spotlights expanded awareness of the climate crisis, improved electrification, and significant gains in solar deployment. Despite this progress, the emissions crisis itself is accelerating at an even faster pace, forcing us to move more quickly.

OKR Highlight

OKR Highlight: 8.0 Turn Movements Into Action

As we watch COP28 unfold, it’s impossible to ignore the controversies around this year’s global climate summit. From the start, the UAE venue was an unlikely setting for a call to phase out oil. Second, heads of state from the two biggest emitters, China and the U.S., will not be in attendance. The U.N. Stocktake gives us hope for a tangible outcome: an assessment of our global progress toward net zero that drives greater ambition for the next set of national climate commitments.

9.0 – Innovate

  • Google’s partnership with clean-energy startup, Fervo, to develop a geothermal power project in Nevada is now contributing carbon-free energy to the grid.

  • Fertilizers made with ammonia have propelled the fertilizer industry to the edge of the energy transition.

  • You’ve seen green, blue, and gray, but was white hydrogen on your radar? Miners in Lorraine, France found one of the largest natural hydrogen deposits on earth, which could be key to scaling this renewable energy.

💰 10.0 – Invest

  • BlackRock Investment Institute called for a blended approach to finance the energy transition. It would rely on both private investment and public sector reforms to achieve net zero.

  • UAE president announces $30 billion fund to bridge climate finance gap, aiming to increase investment in the global south’s infrastructure against threats of the climate crisis.

Click here to track our progress toward net zero.

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