The International Energy Agency has published an update to its Net Zero Roadmap, highlighting the actions needed from the energy sector to align with a 1.5°C scenario and achieve net zero by 2050. The key message is one of urgency – while there has been progress in clean energy technologies, the 1.5°C window is narrowing annually, and the energy sector will be key to achieving this goal. To guarantee the energy sector's decarbonization aligns with the pace and scale outlined in the IEA's roadmap, significant efforts are still required.
Transforming the energy sector and accelerating the speed and scale of decarbonization will be a central theme at this year’s COP28, providing an opportunity to boost ambition and enhance implementation efforts.
Business will play a crucial role in advancing the decarbonization of the energy sector. This World Business Council for Sustainable Development (WBCSD) Business Brief summarizes the key messages of the IEA’s report for business and highlights ten actions for business, identified by the IEA, to transform and decarbonize the energy sector. The final section outlines WBCSD projects and initiatives that member companies can engage in to take action and achieve the goal of reaching net-zero emissions by 2050.
The areas featured in the business brief are
- IEA Key Messages
- What This Means for Business
- How Business Can Act