Achieve price parity between EVs and gas-powered vehicles in the U.S. by 2024, in India and China by 2030.
$54,288 (average EV) vs. $47,209 (average full-size car) in the U.S.
Source: Kelley Blue Book, 2023
Increase sales of zero-emissions medium and heavy trucks to 30% of all new truck sales by 2030; 95% by 2045.
Electric share of global truck sales was 2% in 2023
(BEVs, FCVs, and PHEVs)
Source: BloombergNEF, 2023
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.
EV global share of miles driven across road vehicles in 2022: 10.4%
(BEVs, FCVs, and PHEVs)
Source: BloombergNEF, 2023
Increase low-carbon fuel (SAF) to 20% of all aviation fuel by 2025; zero-emissions fuel to 40% by 2040.
Shift all new construction to “zero-ready” ships by 2030; zero out emissions for the shipping industry by 2050.
Tap emissions-free sources to generate 50% of electricity worldwide by 2025, 90% by 2035.
39% of electricity came from emissions free sources in 2022
Source: Energy Institute, 2023
Make solar and wind cheaper than fossil fuels in all countries by 2025.
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.
Short-term storage: $263/kWh
Long-term storage: New technologies needed
Source: BloombergNEF, 2023
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.*
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.
Reduce flaring and eliminate leaks and venting from coal, oil, and gas sites by 2025.
Methane emissions from the energy sector were 3 gigatons in 2023
Source: International Energy Agency, 2023
Cut fossil fuels for heating and cooking in half by 2040.*
In 2021, building heating generated 2.5 Gt of emissions and over 7 billion people used fossil fuels for cooking
Source: International Energy Agency and World Health Organization, 2023
Global average: $241 of GDP per Exajoule of Fossil Fuel Consumption
Source: Statistical Review of World Energy and World Bank, 2022 and 2023
Improve soil health by increasing carbon content in topsoils to a minimum of 3% by 2035.
Limited Data
Stop overuse of nitrogen-based fertilizers and develop cleaner alternatives to cut emissions in half by 2050.
The world uses 65.5 kilograms per hectare of nitrogen-based fertilizers
Source: Food and Agriculture Organization and Our World in Data, 2023
Cut emissions from beef and dairy consumption by 25% by 2030, 50% by 2050.
3.3 gigatons of emissions from beef and dairy in 2021
Source: Food and Agriculture Organization, 2023
Reduce methane and nitrous oxide from rice farming by 50% by 2050.
Achieve net zero deforestation by 2030; end logging and other destructive practices in primary forests.
Reduce emissions from steel production 50% by 2030, 90% by 2040.
Reduce emissions from cement production 25% by 2030, 90% by 2040.
0.6 metric tons of CO2 per metric ton of cement produced
Source: International Energy Agency, 2023
Reduce emissions from other industrial sources (primarily plastics, chemicals, paper, aluminum, glass, and apparel) 60% by 2050.
Remove at least 3 gigatons per year by 2030 and 5 gigatons by 2040.
Remove at least 1 gigaton per year by 2030 and 5 gigatons by 2050.
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
Source: United Nations Climate Change, 2023
2030 trajectory:
China: 4°C
US: 3°C
EU: 2°C
India: 4°C
Russia: 4°C
Source: Climate Action Tracker, 2023
National prices on greenhouse gases are set at a minimum of $75 per ton, rising 5% annually.
Global average price: $33 per ton
23% of global emissions are covered by a carbon pricing mechanism
Source: World Bank Carbon Pricing Dashboard, 2023
$1.3 trillion in explicit fossil fuel subsidies globally
Source: International Monetary Fund, 2023
Control flaring, prohibit venting, and mandate prompt capping of methane leaks.
Countries representing 50% of global methane emissions have signed the global methane pledge
Source: Global Methane Pledge, 2024
All five major emitters have ratified the Kigali amendment
Source: United Nations Ozone Secretariat, 2024
A majority of key government officials support the drive to net zero.
Limited Data
100% of Fortune Global 500 companies commit to reach net zero by 2050.
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
The world achieves universal primary and secondary education by 2040.
The world eliminates gaps in pollution-linked mortality rates among racial and socioeconomic groups by 2040.
2.3 years (global average loss of life due to air pollution)
Source: Air Quality Life Index (AQLI), 2023
The global clean energy transition creates 65 million fairly distributed new jobs by 2040, outpacing the loss of fossil fuel jobs.
13.7 million people employed directly and indirectly
Source: International Renewable Energy Agency, 2023
10,000 GWh of batteries are produced annually at less than $80 per kWh by 2035.
The cost of zero-emissions baseload power is lowered to $0.02 per kWh by 2030.
$0.03 per kWh for utility-scale onshore wind
$0.05 per kWh for utility-scale solar PV
Source: International Renewable Energy Agency, 2023
Cost of producing hydrogen from zero-emissions sources drops to $2 per kg by 2030, $1 per kg by 2040.
Cost of engineered carbon dioxide removal falls to $100 per ton by 2030, $50 per ton by 2040.
Cost of synthetic fuel drops to $2.50 per gallon for jet fuel and $3.50 for gasoline by 2035.
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
Global government support and incentives for clean energy expand to $600 billion per year.
Limited Data
Public investment in sustainability research and development increases to $120 billion per year.
Low carbon R&D globally: $23 billion
Source: International Energy Agency, 2023
Private investment into cleantech startups totals $50 billion per year.
Clean energy project financing rises to $1 trillion per year.
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.
Less than 2% (between $8 billion and $13 billion) of philanthropic giving is dedicated to climate change mitigation
Source: ClimateWorks Foundation, 2023
Reaching net zero will require close to $2 trillion of global investment per year for twenty years or more.
These financing dollars are essential to the clean energy transition. They furnish the wherewithal for innovation and deployment of clean energy–we cannot get to net zero without them.
Speed & Scale’s financial plan consists of five key results, each linked to an essential source of funding: financial incentives, government R&D, venture capital, project financing, and philanthropy.
Global government support and incentives for clean energy expand to $600 billion per year.
Limited Data
Public investment in sustainability research and development increases to $120 billion per year.
Low carbon R&D globally: $23 billion
Source: International Energy Agency, 2023
Private investment into cleantech startups totals $50 billion per year.
Clean energy project financing rises to $1 trillion per year.
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.
Less than 2% (between $8 billion and $13 billion) of philanthropic giving is dedicated to climate change mitigation
Source: ClimateWorks Foundation, 2023
