IATA International Air Transport Association ICAO International Civil Aviation Organization ICCAInternational Council of Chemical Associations ICCTInternational Council on Clean Transportation IDDI Industrial Deep Decarbonisation Initiative IEA International Energy Agency IED Industrial Emissions Directive IMF International Monetary Fund IMO International Maritime Organization IRA Inflation Reduction Act IRENA International Renewable Energy Agency ISEDInnovation, Science and Economic Development Canada ITA Industrial Transition Accelerator kgCO2eq/ boeKilograms of carbon dioxide equivalent per barrel of oil equivalent LFO Light fuel oil LME London Metal Exchange LNG Liquified natural gas LSFO Low-sulphur fuel oil LTAG Long-term aspirational goal MB/D Million barrels per day MCFC Molten carbonate fuel cells MJ/RTKEnergy used per revenue tonne kilometre performed MJ/ton-kmEnergy use (MJ per transported tonne and km) MMMCZCSMærsk Mc-Kinney Møller Center for Zero Carbon Shipping MPP Mission Possible Partnership MRV Measurement, reporting and verification MT Million tonnes MTPA Million tonnes per annum MVR Mechanical vapour recompression NZE Net-zero emissions NZIA Net Zero Industry ActNZT Net-zero technologies OBPS Output-Based Pricing System OEMs Original equipment manufacturers OGDC Oil and Gas Decarbonization Charter PPA Power purchase agreements PtL Power-to-liquids R&D Research and development ROIC Return on invested capital RPK Revenue passenger kilometres SAF Sustainable aviation fuels SCM Supplementary cementitious materials S&P Standard & Poor’s SOFC Solid oxide fuel cells STEPS Stated Policies Scenario TCO Total cost of ownership T Tonnes tCO2Tonnes of carbon dioxide tCO2e Equivalent tonnes of carbon dioxide tCO2e/tTonnes of carbon dioxide equivalent per tonne of output TRL Technology readiness level TSCA Toxic Substances Control Act TW Terawatt UK United Kingdom US United States WACC Weighted average cost of capital WEC Waste emissions charge ZEF Zero-emission fuels ZEMBA Zero Emission Maritime Buyers Alliance ZET Zero-emission trucks ZEV Zero-emission vehicles Net-Zero Industry Tracker: 2024 Edition 132

Net Zero Industry Tracker 2024