Executive summary The opportunity to cap global warming at 1.5°C is rapidly escaping. In this context, the need to accelerate the decarbonization of industry – which represents 30% of global greenhouse gas (GHG) emissions – has never been more critical. Yet the speed and the scale of emissions abatement are insufficient: we are currently witnessing an annual increase of 1.5% in emissions – while a 7% reduction is required to follow the 1.5°C path – and a continuous record of daily temperature anomalies.1 Although companies across various industries are increasingly addressing this challenge and adopting measures to calculate and reduce their carbon footprint, they still face fundamental barriers. What strategies can industrial companies use to make a strong case for net-zero goals while facing competitive pressures? How they can pinpoint key emissions sources without access to precise product-level carbon footprint data? What are the best approaches to influencing supplier emissions and consumer product use? Finally, how can they accelerate and scale the net-zero technologies essential for decarbonization? Challenges such as high upfront costs, technological limitations, regulatory uncertainty and fragmented constraints, lack of skilled workforce, insufficient infrastructure, limited access to financing and resistance to change underscore the need for public-private collaboration. Businesses need governments to provide the right conditions to fully realize large-scale changes. Meanwhile, governments need businesses to help shape the industrial policies that alleviate the barriers to faster progress. By working together, governments could provide tailored policy frameworks and incentives, while private companies could drive innovation and ensure implementation. Nevertheless, the way to operationalize this collaboration still needs to be outlined.Recognizing the need for systemic collaboration to overcome the main barriers to industrial decarbonization, the Industry Net Zero Accelerator initiative has developed a new framework to support manufacturing and supply chain companies in engaging more effectively with the public sector to accelerate towards net zero. This framework, shaped by insights from over 60 senior leaders in sustainability, supply chain, operations and technology across various industries, as well as the public sector, academic and international organizations, outlines eight opportunities for public-private collaboration. This white paper also presents 11 real-world case studies from early movers that illustrate best practices and successful collaborations from around the globe. These case studies provide tangible examples at two levels of action and address four major barriers that companies face in reaching net zero: gaining buy- in, accurately calculating emissions, implementing mitigation efforts and encouraging green business growth. The case studies also showcase how public- private collaboration can alleviate key obstacles, drive innovation and expedite the transition to a decarbonized industrial landscape. By informing strategic-level decisions and structuring the dialogue between private and public sector stakeholders, this framework serves as a practical roadmap for businesses looking to engage in public-private collaborations to accelerate decarbonization. Moving forward, the World Economic Forum will continue to bring together leaders across industries, governments, academia and civil society to exchange learnings, inform decision-making, celebrate achievements and contribute to closing awareness and knowledge gaps. This is paramount to accelerating a united and sustainable path to net zero.Decarbonizing industry requires business leaders to efficiently cooperate with public stakeholders, combining their respective strengths and influence for a sustainable future. United for Net Zero: Public-Private Collaboration to Accelerate Industry Decarbonization 4

United for Net Zero Public Private Collaboration to Accelerate Industry Decarbonization 2025