Overview

Doha, Sept 2021

The Race to Net-zero

Download the White Paper HERE

The world is witnessing a growing momentum in the push towards net-zero CO2 emissions, with many countries now legally obliged to reach this ambitious target by the mid-century. This development is driven primarily by world leaders’ commitment to address climate change and hastened by the 2016 Paris Agreement. Currently, about 70% of the world economy is covered by some form of pronouncement on netzero ambitions. The major or emerging economies that have announced or are in the final process of announcing their net-zero aspirations, include: China, USA, EU, UK, Australia, Canada, Japan, South Korea, India, Indonesia, UAE, Singapore, etc. While corporations with net-zero commitments include: Shell, BP, Total, Equinor, Glencore, Rio Tinto, Unilever, Cemex, Lafarge, Google, Microsoft, all the major automakers, and some major airlines.

There is growing belief among many world leaders and captains of industry that achieving net-zero by 2050 is feasible, despite the hurdles that need to be overcome in the intervening decades. This optimism is informed by the widespread initiatives developed by many countries and companies that promote and develop clean energy technologies. While the net-zero targets being set by countries and major corporations, including oil and gas companies, involve comprehensive approaches for addressing diverse issues relating to climate change, sustainable development and energy transition, including developments on renewables and hydrogen.