An Action Plan for Solving Our Climate Crisis Now

1.0
Electrify Transportation
Reduce 8 gigatons of transportation emissions to 2 gigatons by 2050.
1.1
Price

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

1.2
Cars

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

1.3
Buses

Electrify all new buses by 2025.

Updated April 2024
Insufficient Progress

43% of new bus purchases were electric in 2023

Source: BloombergNEF, 2023

1.4
Trucks

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

Updated April 2024
Failing

Electric share of global truck sales was 2% in 2023

(BEVs, FCVs, and PHEVs)

Source: BloombergNEF, 2023

1.5
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

1.6
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
Failing

0.4% of fuel use is low carbon (SAF)

Source: BloombergNEF, 2024

1.7
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
Failing

Zero percent of new ships are carbon-neutral

Source: Global Martime Forum, 2023

2.0
Decarbonize the Grid
Reduce 24 gigatons of global electricity and heating emissions to 3 gigatons by 2050.
2.1
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

2.2
Solar & Wind

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

Updated June 2024
On Track

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

Source: BloombergNEF, 2024

2.3
Storage

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
Failing

Short-term storage: $263/kWh

Long-term storage: New technologies needed

Source: BloombergNEF, 2023

2.4
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.

 

2.5
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

2.6
Heating & Cooking ↓ 1.5 Gt

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

Updated April 2024
Failing

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

2.7
Cleaner Economy

Triple the ratio of GDP to fossil fuel consumption.

Updated April 2024
Failing

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

3.0
Fix Food
Reduce 9 gigatons of agricultural emissions to 2 gigatons by 2050.
3.1
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

3.2
Fertilizers ↓ 0.5 Gt

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

Updated April 2024
Failing

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

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

3.3
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

3.4
Rice ↓ 0.5 Gt

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

Updated April 2024
Failing

1.1 gigaton of CO2e resulting from rice production

Source: Our World in Data, 2024

3.5
Food Waste ↓ 1 Gt

Cut food waste to 10% by 2050.

Updated April 2024
Failing

38% of food in the US is wasted

Source: ReFed, 2022

4.0
Protect Nature
Go from 6 gigatons of emissions to -1 gigatons by 2050.
4.1
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

4.2
Oceans ↓ 1 Gt

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

Updated April 2024
Failing

8.2% of coastal oceans are protected

Source: Protected Planet, 2024

4.3
Lands

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

Updated April 2024
Failing

16% of global lands are protected

Source: Protected Planet, 2024

5.0
Clean Up Industry
Reduce 12 gigatons of industrial emissions to 4 gigatons by 2050.
5.1
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

5.2
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

5.3
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

6.0
Remove Carbon
Remove 10 gigatons of carbon dioxide per year from the atmosphere.
6.1
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

6.2
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: CDR.fyi, 2024

7.1
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

7.2
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

7.3
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

 

7.4
Subsidies

Direct subsidies to fossil fuel companies are eliminated.

Updated April 2024
Code Red

$1.3 trillion in explicit fossil fuel subsidies globally

7.5
Methane

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

7.6
Refrigerants

Countries commit to phasing out hydrofluorocarbons (HFCs).

Updated April 2024
On Track

All five major emitters have ratified the Kigali amendment

8.1
Voters

The climate crisis becomes a top-three issue.

Updated April 2024
Failing

Climate’s rank as top issue: seventh globally

Source: Ipsos, 2023

 

8.2
Government

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

Updated April 2024
Limited Data

Limited Data

8.3
Business

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

Updated April 2024
Failing

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

8.4
Education Equity

The world achieves universal primary and secondary education by 2040.

Updated April 2024
Failing

77% of students complete lower secondary school

Source: World Bank, 2023

8.5
Health Equity

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

Updated April 2024
Failing

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

Source: Air Quality Life Index (AQLI), 2023

8.6
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

9.1
Batteries

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

9.2
Electricity

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

9.3
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
Failing

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

Source: BloombergNEF, 2023

9.4
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: CDR.fyi, 2024

9.5
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
Failing

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

10.1
Financial Incentives

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

Updated April 2024
Limited Data

Limited Data

10.2
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

10.3
Venture Capital

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

Updated April 2024
Achieved

$51 billion invested in climate tech startups

Source: BloombergNEF, 2024

10.4
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

10.5
Philanthropy

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.

PATH TO NET ZERO STILL OPEN, BUT… Since the International Energy Agency (IEA) released its last report in 2021, limiting global warming to 1.5 degrees Celsius has gotten even harder. Things may get worse before they get better—the newest IEA report states that we will surpass 1.5 but drop back under by 2100.


The IEA now projects that achieving net zero by 2050 will require setting new goals. To address the bulk of emissions reductions, the IEA makes four calls to action: ramping up renewables, improving energy efficiency, cutting methane emissions, and increasing electrification with technologies available today. The biggest energy system emission reductions will come from tripling installations of new renewable energy, mostly solar and wind power—showing that the energy transition will be additive, supporting the build up of new industries.

Big Picture

Source: International Energy Agency

Dive deeper into Speed & Scale

OKRs in the News

🚗 1.0 – Electrify Transportation

  • Tesla is slashing prices on EVs—at $38,990, the base Model 3 sedan now costs $8,700 less than the average amount paid for a car or truck in the US.

  • Potential roadblock in the energy transformation? EV battery plants are a make-or-break issue in UAW union negotiations, as unions worry about job security in the transition to EVs.

🐄 3.0 – Fix Food

  • Despite their bold sustainability announcements, food companies and restaurants are reporting increased emissions.

🌳 4.0 – Protect Nature

  • Your daily cup of Joe contributes to the climate damage caused by deforestation, but there’s an end in sight. In an effort to reduce the impact of coffee production on our forests, pioneers like Atomo Coffee have launched beanless espresso.

  • President Biden vetoed legislation that would have weakened protections under the Endangered Species act for the lesser prairie chicken and northern long-eared bat.

🧱 5.0 – Clean Up Industry

  • The WSJ highlights how major companies are struggling to create specific plans to cut emissions.

  • Thanks to nearly $5 billion from the Infrastructure Investment and Jobs Act, we’re seeing progress on the plugging of old fossil fuel wells, a cost-effective strategy to combat methane emissions.

  • The shipping industry may be going back to the future to reduce emissions—via wind power. Consultancy CE Delft estimates that shipping emissions could be cut by close to half by 2030 through a combination of wind propulsion, new fuels, and reduced speeds.

🏛️ 7.0 – Win Politics and Policy

  • The EU has launched a carbon reporting system, the first phase of a plan to impose a new carbon border tariff on imported goods, including iron and steel, aluminum, cement, electricity, fertilizers, and hydrogen.

  • The newly unveiled American Climate Corps will enlist 20,000 workers to help restore wetlands, deploy low-carbon energy, and manage forests. The program was inspired by the Civilian Conservation Corps of the New Deal era.

  • Biden officials and environmental organizations are touting the benefits of the IRA through events, roundtables, and advertising in key congressional districts. They are working to respond to the 71 percent of Americans who say they have heard “little” or “nothing at all” about the law more than a year after its passage.

  • India announced the establishment of carbon reduction mandates in four energy-intensive industries. The mandates will be applied by 2025, when the industries will begin trading on India’s new carbon market from 2025.

OKR Highlight

🏃 8.0 – Turn Movements into Action

  • Ahead of next week’s International Monetary Fund (IMF) and World Bank meeting, the IMF released a report to frame how global financial institutions can address our climate crisis. The challenge is to navigate a policy trilemma between aggressive climate goals, fiscal sustainability, and political feasibility.

OKR Highlight 8.0: We’re thinking a lot about OKR 8.0 and how we can turn movements into action. Can individual actions make a decisive impact, or does climate action require collective, global convenings?


Last week, we dove into Climate Week NYC to investigate whether these high-profile meetings move the needle on climate action. What we found is surprising. Check out our Climate Week NYC analysis here and be on the lookout for takeaways from next week’s meeting on our social channels.


🗝️ 9.0 – Innovate

  • In a first-of-its-kind partnership, America’s largest steel producer, Nucor, is teaming up with Helion Energy to build a fusion power plant at a Nucor steel mill. The deal represents a bet on a nascent technology that had a long-awaited breakthrough in December, when a lab generated more energy from a fusion reaction than was needed to create it.

💰 10.0 – Invest!

  • HSBC will spend $1 billion to support emerging climate tech companies from around the world in EV charging, battery storage, sustainable food and agriculture, and carbon removal technologies.

  • According to the IMF, banks have yet to align the goals of their sustainability funds with net zero targets. Nor are they providing essential private capital to developing countries. At present, most banks aren’t even on track to meet their own net zero targets.

Click here to track our progress toward net zero.

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