Net Zero Industry Tracker 2024 Cross Sector Findings

Contribution to emission reduction by decarbonization lever for industrial sectors and top mitigation methodsFIGURE 11 Avoided demand Energy efficiency Electrification Other fuel shifts Material efficiency Hydrogen Other process shifts CCUS24681012 0GT CO2eTop three mitigation methods Process shift (Including methane reduction and zero-flaring technologies in oil and gas): Expected to reduce emissions by 27% Electrification Expected to reduce emissions by 24% CCUS Expected to reduce emissions by 20% 2022 2030 2050+5% -41% -93%+7% -99% Source: Accenture analysis based on IEA.Decarbonization levers Absolute direct emissions from industrial sectors (steel, cement, aluminium, primary chemicals, and oil and gas) are projected to decrease by 41% by 2030 and 93% by 2050, largely due to the adoption of various technologies. For the transport sectors (aviation and shipping), direct emissions will need to decrease by around 84% by 2050. Achieving these reductions across all sectors will require coordinated efforts and significant investment in the necessary technologies and infrastructure. Net-Zero Industry Tracker: 2024 Edition 8