With global organisations all setting their sights on achieving net zero emissions, an all-too-common ‘deadline’ thrown around is the year 2050. Whilst this commitment made by many organisations, from Coles Group to the Australian Federal Government, is undoubtedly a positive one, it is critical that we pose the question ‘What are the practicalities of achieving net zero emissions by 2050?’.
As we all know, it is easy to make ambitious plans – harder to realise them, but in the case of some of the world’s largest emitters, there is no room for an overpromise – underdeliver scenario on climate. To prevent this situation and assist in charting out what the transition to net zero must look like, the International Energy Agency last month produced the Net Zero by 2050 Clean Energy Roadmap.
The report aims to plot the road to net zero and the global effort required, in both behavioural and fiscal terms.
Some of the key findings from the report include:
- ‘To reach net zero emissions by 2050, annual clean energy investment worldwide will need to more than triple by 2030 to around $4 trillion’.
- ‘Clean energy innovation must accelerate rapidly, powered by investment’.
- ‘Policies need to be designed to send market signals that unlock new business models and mobilise private spending’.
The forecast behind the report’s insights is one of a clean energy revolution. A movement supported by policy, led by investors and powered by innovative ideas. These findings align with our beliefs and practices at Vellum.
We believe firmly that the greatest opportunities for transformation toward a more sustainable way of living are those ideas that are just beginning to emerge. For Vellum, this means actively supporting solutions developed to address contemporary issues from their infancy.
As illustrated in the IEA’s report, we are witnessing a significant shift in 2021, in which investors looking to support real innovation are no longer required to choose between impact and profit. This is why we are committed to helping our clients achieve both, by getting behind the transition to a more sustainable world and supporting the organisations that will be a force for change, not just a commitment to it.