This report was first published by Oliver Wyman here.
This decade is critical
Global greenhouse gas emissions are set to increase by 16 percent, depleting the ozone layer and putting the planet at risk of devastating effects of climate change like rising heat and sea levels and more destructive hurricanes. While some degree of climate change is now inevitable, the impacts will become catastrophic to many of the world’s ecosystems and people, particularly those in the most vulnerable nations, if our emissions trajectory isn't immediately reversed. To prevent the worst from climate change, we need to close the gap between where emissions are currently trending and where they need to be, the target of limiting global warming to 1.5 Celsius must be kept alive. In accordance with the 2015 Paris Agreement and the 2021 Glasgow Climate Pact, this means cutting global emissions by 56 percent by the decade's close. The post-pandemic world presents an opportunity for leaders to reset their strategies towards greener, sustainable growth.
Our Climate Action Navigator is the roadmap to achieving the world's climate goals
Net-zero commitments from businesses and governments doubled in 2020, but many lack the right guide to fulfil them. Despite recent progress made, current announcements and pledges are not enough to curb projected warming levels. There is a need for leaders to take greater action. We created the Climate Action Navigator with one goal: to offer a one-stop shop of specific, actionable decarbonization solutions — or “actions” — for the public and private sector. The Climate Action Navigator is an interactive tool that lets global leaders see how far they need to go to close their emissions gap and exactly what they need to do to accomplish it. The navigator assigns several actions out of 17 — like scaling low-carbon power generation or reducing transport emissions — to the world's most carbon-heavy regions and sectors. Each action in the navigator shows its mitigation potential, giving business and government leaders each piece of the puzzle to realize their 2030 climate goals. These 17 actions are housed within six distinct themes, like energy and fuels or transportation. Each theme has a large role to play in reducing today's emissions to 2030 targets.
Click here to explore the roadmap to achieving the world's climate goals.