Executives expect net-zero carbon emissions by 2057: report
To attain this, investments need to increase to $4t by 2030.
Energy and natural resources executives expect that the world will attain net-zero carbon emissions by 2057, Bain & Company reported.
In its third Global Energy and Natural Resources report, results showed that as a group, the executives expect emissions reductions to broadly track current pledges through 2030.
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This is projected to accelerate in the years leading up to 2057, Bain & Company noted. Citing the International Energy Agency, the report noted that to attain this, investments will need to increase to $4t by 2030 from $1t today.
“Energy and natural resources executives are now a few years into their net zero commitments, and they’re more clear-eyed about what it will take to accomplish them,” Joe Scalise, global head of Bain & Company’s Energy and Natural Resources practice, said.
“Their ambitions haven’t changed, and they are feeling optimistic that they’ll lead the rest of the corporate world through the energy transition. But they know it’s going to be challenging without the government stepping in to support these efforts or customers paying more for sustainable products. At the end of the day, the capital to fund low-carbon businesses is there, they just need to ensure there’s going to be a return on that investment.”