, APAC

World may reach net-zero by 2057: report

More than 1,000 executives expect to cut emissions by 28% by 2030.

More than 1,000 energy and natural resources executives expect the world to cut carbon emissions by 28% by 2030 and reach net-zero by 2057, a report found. 

In its report, Bain & Company noted that most of the respondents have a more bullish outlook over their own trajectories compared to other markets with 61% expecting to decarbonise faster than the rest of the world. 

“This may indicate a greater commitment than the outside world sees,” the report read in part.

The report also noted that executives “overwhelmingly” perceive decarbonisation as a top priority with 88% saying reducing Scope 1 and 2 emissions is a key priority of their firms. 

Nearly half, or 47%, expect their compay to change, which improved from 36% on 2020. Moreover, 96% expect the industry will make progress in attaining net-zero by 2030. 

“Energy and natural resources industries are moving from ambition to action,” Peter Parry, chairman of Bain & Company’s global Energy and Natural Resources practice, said. 

“Whilst close to a quarter of capital expenditure in 2021 was directed toward change, we can expect this to grow toward 50% by 2025, establishing a transition path with greater clarity.”

 

Follow the link for more news on

Join Asian Power community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

India’s Rajasthan and Gujarat need policy reforms to fuel RE transition
Some steps they could take are implementing green tariffs and setting infrastructure funds.
Global clean energy tech market to hit $2t by 2035
This is fuelled by investments as countries aim to enhance energy security.The global clean energy technology market is projected to grow from $700b in 2023 to over $2t by 2035, nearing the scale of the crude oil market, according to the International Energy Agency (IEA).This growth is fuelled by significant investments in clean technology manufacturing as countries aim to enhance energy security, maintain economic competitiveness, and cut emissions. Investment is concentrated in regions with established positions in clean energy, particularly China, the European Union, the UK, and increasingly, India.Whilst the US, EU, and India have taken measures to support their clean energy sectors, China is expected to remain the world's manufacturing hub. By 2035, China's clean technology exports are forecasted to exceed $340b—comparable to projected oil export revenues from Saudi Arabia and the UAE.Southeast Asia, Latin America, and Africa contribute less than 5% of global cleantech production value, yet the IEA suggests that these areas still hold opportunities within the clean energy economy. Developing economies, for instance, could leverage competitive advantages to advance in the value chain beyond resource extraction.The IEA said Southeast Asia could become one of the most cost-effective regions for producing polysilicon and wafers for solar panels over the next decade.

Exclusives

Coal-dependent ASEAN told to scale up RE generation
A regional power grid could help governments in their renewable energy transition.
Indonesia told to tap communities in clean energy transition
Solar and wind power managed by villages could generate 96 million jobs over 25 years.
Indonesia to add 90 MW geothermal capacity
Three power plants in West and East Java and North Sumatra will start operating this year.