Net Zero Industry Tracker 2024

Conclusion Over the past decade, hard-to-abate sectors have made progress towards reducing emissions, although not at the pace required to achieve net- zero emissions by 2050. In the last year, the sectors saw a decline in average emissions intensity. However, these sectors are expected to grow by 60% by 2050, meaning the reduction in emissions intensity must accelerate significantly. The readiness scores in this report indicate that none of the sectors in scope are currently on track to achieve net-zero emissions by 2050. It is important to note that the companies in these sectors cannot achieve this target alone. This will require the active collaboration of stakeholders throughout the value chains of supply and demand, as well as policy-makers. The path forward demands sustained commitment from all sectors. This year’s Net Zero Industry Tracker clearly shows that hard-to-abate industries must accelerate their efforts to transform operations and reduce emissions. The key priorities highlighted in this report can support stakeholders across the sectors in scope in deciding the next steps in their path towards the net-zero transition. The actions taken in the remaining years of this decade will be critical in ensuring that strong, long-term ambition is supported by immediate progress. The transition must be resilient to maintain momentum amid current market volatilities and potential future domestic or international disruptions. Net-Zero Industry Tracker: 2024 Edition 130