meaning of zero report

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zero report

Quick reference.

A term used in surveillance systems to designate an unequivocal report that no cases of a designated disease of interest occurred during the reporting period. When correctly implemented, zero reporting is important and valuable because it eliminates the possibility that the report was simply not completed or sent.

From: zero report in A Dictionary of Public Health »

Subjects: Medicine and health — Public Health and Epidemiology

Zero incidents: Achieving a new safety culture

Zero incidents aims to completely eliminate all events that result in an injury, property damage, or lost workday case. If safety goals are not set at zero, an employer sends a message to employees that severe and disabling incidents are acceptable.

Safety must be an integral component of an overall business plan for any company. Safety controls must be designed into every aspect of a job, thereby promoting awareness and continuous improvement in the program. Zero incidents should be a company vision rather than a target or performance goal.

Goal setting

Picture this scenario: You are the manager of a facility and want to implement a new program that you believe will improve your safety performance. You decide to let all employees know what past incident rates are for the facility. In doing so, you also establish goals that you want to achieve. You decide to communicate with your employees by posting annual goals on the safety bulletin board.

On this board, the following statistics appear:

ABZ Co. safety statistics:

OSHA RECORDABLE RATES

Last year Goal

Recordable cases 122 61

Lost work day cases 32 16

Do you think that these are acceptable goals? In one way, this view states that you expect employees to get hurt at a rate of 50% less than the previous year. Is this the message that you really want to send? While it is natural to use numbers and statistics to measure compliance to a particular goal, it is more important to send the message that what you are striving for is zero incidents.

The best way to reach this goal is to set a company vision of zero incidents. Employees and managers must agree that it is unacceptable for any disabling injuries or lost workday cases to occur. In theory, if a company promotes a clear vision of zero lost-time incidents, then, in theory, recordable injuries will diminish at a remarkable rate.

Culture-based approach

The first step toward achieving zero incidents is to pursue a change in the overall safety culture. A culture is an attitude that develops over time, based upon learning, personal experiences, beliefs, and upbringing.

When there is change in a cultural norm, most people tend to resist the change. Safety culture change is an evolving process for some and a revolution for others.

Safety culture change

How does the culture change? There are many ways to achieve the desired results of zero incidents. The fundamental methods involve a grassroots approach of empowering the employee. In addition, top management support and promoting leadership actions within the organization will enhance the visibility of the safety culture.

The following are some important steps that can be used to foster a change in a company safety culture toward zero incidents.

1 Define and communicate the need for change. This step must come from top management. Management must communicate with employees and explain why the change has to occur. Most importantly, management must demonstrate how the employee will benefit from the change in safety culture.

2 Envision a desired result. Management must provide direction-setting goals and target objectives to achieve the vision of zero incidents. Demonstrated commitment must be evident from all levels of management. Too often, management voices its commitment, yet it does not know how to visibly demonstrate that commitment to employees.

3 Survey and assess the safety culture. Actively solicit employee input and, in return, provide feedback to them. Look at both technical and human factors, and identify and remove barriers that prevent desired performance. Evaluate environmental, organizational, and cultural influences.

4 Strategic planning. Use the data collected from the survey to define critical issues and prioritize them accordingly. Develop goals and objectives that are aligned with the overall mission statement of the corporation. Determine the barriers that exist and create a strategy to break them down.

5 Implementation. Create changes in behavior using:

– Resources

– Focus and consistency

– Action

– Trust

– Communication

– Demonstrated commitment.

6 Evaluate, control, and measure the results. Review progress and measure results on a regular basis. Look at the continuous improvement process. Are incidents increasing or decreasing? If there is an increase, the system is out of control. A decrease indicates that the system is improving and appears to be working.

Now that your safety culture is in the beginning stages of undergoing change, it is necessary that you change the norms that exist in the company culture. Norms are the activities that we do every day without thinking. They become the accepted way we do our business: “That’s the way we’ve always done it.” But to achieve a new safety culture, many of these norms must be changed.

To change the norms, some fundamental steps must be defined.

– Understand why unsafe norms exist in an organization

– Clarify that past unsafe conditions are unacceptable

– Identify unsafe behaviors that are keeping you from achieving your goal

– Define the unstated norms (unwritten rules) behind those actions

– Specify desired safety norms and proclaim that all incidents are preventable

– Communicate the way you want the new program to work

– Plan system changes to reinforce new norms.

Once these issues are understood, the safety culture will start to transform. The change will not happen overnight, but will come gradually.

Management, the safety professional, and employees all play differing, but key, roles in developing the new safety culture.

Most of the time, management and employees are blamed for deficiencies in the system (an incident). In reality, it is usually the management system alone that is to blame. Management must come to the realization that the organization needs to commit resources to allow safety improvements.

Safety professional

The term “traffic cop” has been used to describe the safety community in the past. Even today, some companies still consider the safety professional “at fault” when an incident occurs.

However, the zero incidents safety culture understands that safety professionals are the driving force behind management. The safety professional is a consultant who provides the appropriate mentoring, coaching, and guidance to help management make the right decisions. But, one must remember that executive management must be the authority; top-level managers must make the final decision.

One of the keys to success is to involve employees in the safety process. Employees must understand that they must take an active role in the development and planning of the new safety culture. It is vitally important to the success of the process that employees are provided with the tools, funding, and resources to accomplish the given tasks.

The question remains, “Can zero really be achieved?” Is it realistic to think that any firm can reach this vision? The answer is yes. With the full support of management and employees, the goal can become a reality. Many people do not believe that it can be achieved; others choose to debate that it is unrealistic, but if you never try, you will never know.

— Edited by Cheryl M. Firestone, Senior Editor, 630-320-7136, [email protected]

Key concepts

“Zero incidents” is the elimination of loss-producing events that result in an injury, property damage, or lost work day case.

Management and employees must agree that it is unacceptable for any disabling injuries or lost-workday cases to occur, and their commitment must be demonstrated.

For zero incidents to become a reality, the overall safety culture must change.

Psychology of safety

Past articles written by notable psychologists have promoted behavior modification as a technique to achieve success in safety. This approach follows the belief that by changing people, injuries will be eliminated.

The zero-incidents concept is achievable and a zero-incident safety culture can work when it is properly communicated. The system will work if top management and employees pull together toward the common vision of zero incidents.

In a zero-incident safety culture, one focuses on real-time issues. Nobody should ever think that it is acceptable to suffer a disabling injury while at work or home. It is up to management to convince the skeptics that zero is a reachable vision, a reality. Adopt the cultural belief that all accidents and incidents are preventable.

Any company that institutes a cultural change toward the zero incidents concept is bound to see safety improvements that the entire workforce can be proud of.

Role of management in implementing change

Management’s commitment to change in the safety culture is crucial in the success of zero incidents. Several steps should be taken to begin the change:

– Focus on the management system

– Use the leadership position to empower employees at all levels to take responsibility for the safety of themselves and others around them.

– Inform employees of how things need to change

– Communicate the changes

– Involve employees in determining the required changes

– Reinforce and reward desired behaviors

– Educate employees on new skills sets

– Orient new managers to the new norms

– Allocate resources, time, and funding

– Focus on tasks at hand without placing blame

– Publicize successes/failures/lessons learned

– Provide feedback to all affected groups regularly.

The authors are available to answer questions regarding this article. Mr. Roughton can be reached via e-mail at safeday@ mindspring.com. Mr. Crowley can be reached at [email protected].

Additional safety information, can be obtained by visiting our web site: www.plantengineering.com.

Do you have experience and expertise with the topics mentioned in this content? You should consider contributing to our CFE Media editorial team and getting the recognition you and your company deserve. Click here to start this process.

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Zero Reporting

If no controlled substance, butalbital or gabapentin prescriptions are dispensed on any given day, the dispenser is required to submit a "zero report" at the end of the day or on the following day. If the dispenser does not have a way to automate zero reporting and is closed for business, it is permissible to submit one zero report per day closed, upon reopening for business.

Submitting zero reports for a timeframe greater than one day is not permitted.

Guidance on reporting Zero Reports can be found in the Clearinghouse Data Submitter Guide section 5.4 .

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Perspective
Published: 20 December 2021

The meaning of net zero and how to get it right

Sam Fankhauser ORCID: orcid.org/0000-0003-2100-7888 1 , 2 ,
Stephen M. Smith ORCID: orcid.org/0000-0002-5737-0155 1 ,
Myles Allen ORCID: orcid.org/0000-0002-1721-7172 2 ,
Kaya Axelsson 1 ,
Thomas Hale ORCID: orcid.org/0000-0002-8871-3376 3 ,
Cameron Hepburn ORCID: orcid.org/0000-0003-0467-7441 1 ,
J. Michael Kendall ORCID: orcid.org/0000-0002-1486-3945 4 ,
Radhika Khosla ORCID: orcid.org/0000-0002-7730-8041 1 ,
Javier Lezaun ORCID: orcid.org/0000-0002-5483-3628 5 ,
Eli Mitchell-Larson 2 ,
Michael Obersteiner ORCID: orcid.org/0000-0001-6981-2769 6 ,
Lavanya Rajamani 7 ,
Rosalind Rickaby ORCID: orcid.org/0000-0002-6095-8419 4 ,
Nathalie Seddon 8 &
Thom Wetzer ORCID: orcid.org/0000-0001-5728-7012 1 , 7

Nature Climate Change volume 12 , pages 15–21 ( 2022 ) Cite this article

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This article has been updated

The concept of net-zero carbon emissions has emerged from physical climate science. However, it is operationalized through social, political and economic systems. We identify seven attributes of net zero, which are important to make it a successful framework for climate action. The seven attributes highlight the urgency of emission reductions, which need to be front-loaded, and of coverage of all emission sources, including currently difficult ones. The attributes emphasize the need for social and environmental integrity. This means carbon dioxide removals should be used cautiously and the use of carbon offsets should be regulated effectively. Net zero must be aligned with broader sustainable development objectives, which implies an equitable net-zero transition, socio-ecological sustainability and the pursuit of broad economic opportunities.

Why residual emissions matter right now

Cities and regions tackle climate change mitigation but often focus on less effective solutions

Path to net zero is critical to climate outcome

Climate policy has a new focus: net-zero emissions. Historically, climate ambition has either been formulated as a stabilized level of atmospheric concentrations (for example, in the 1992 United Nations Framework Convention on Climate Change) or as a percentage emissions reduction target (for example, in the 1997 Kyoto Protocol). Now climate ambition is increasingly expressed as a specific target date for reaching net-zero emissions, typically linked to the peak temperature goals of the Paris Agreement. Almost two-thirds of global emissions and a slightly higher share of global gross domestic product are already covered by net-zero targets 1 .

Net zero is intrinsically a scientific concept. If the objective is to keep the rise in global average temperatures within certain limits, physics implies that there is a finite budget of carbon dioxide that is allowed into the atmosphere, alongside other greenhouse gases. Beyond this budget, any further release must be balanced by removal into sinks.

The acceptable temperature rise is a societal choice, but one informed by climate science. Under the Paris Agreement, 197 countries have agreed to limit global warming to well below 2 °C and make efforts to limit it to 1.5 °C. Meeting the 1.5 °C goal with 50% probability translates into a remaining carbon budget of 400–800 GtCO 2 . Staying within this carbon budget requires CO 2 emissions to peak before 2030 and fall to net zero by around 2050 2 .

However, net zero is much more than a scientific concept or a technically determined target. It is also a frame of reference through which global action against climate change can be (and is increasingly) structured and understood.

Achieving net zero requires operationalization in varied social, political and economic spheres. There are numerous ethical judgements, social concerns, political interests, fairness dimensions, economic considerations and technology transitions that need to be navigated, and several political, economic, legal and behavioural pitfalls that could derail a successful implementation of net zero.

Getting net zero, the frame of reference, right is therefore essential. This Perspective recapitulates the scientific logic behind net zero and sets out the attributes we believe are important to turn it into a successful framework for climate action across countries.

The seven attributes complement an emerging set of operational principles and criteria, which have been put forward to govern specific net-zero decisions, such as country-level target setting 3 , the design of institution-level net-zero commitments ( https://racetozero.unfccc.int/ , https://sciencebasedtargets.org/ and ref. 4 ), the management and disclosure of climate risks 5 , and the use of carbon offsets 6 .

Net zero as a scientific concept

Net zero is just a number, begging the question ‘net zero what?’ For CO 2 , the answer emerged in the late 2000s from understanding what it would take to halt the increase in global average surface temperature due to CO 2 emissions. A series of papers noted the longevity of the impact of fossil carbon emissions 7 , 8 , 9 and the monotonic, near-linear (so far) relationship between cumulative net anthropogenic CO 2 emissions and CO 2 -induced surface warming 10 , 11 , 12 , 13 . The corollary of this result is that CO 2 -induced warming halts when net anthropogenic CO 2 emissions halt (that is, CO 2 emissions reach net zero), with the level of warming determined by cumulative net emissions to that point.

Unless net CO 2 emissions then go below zero, CO 2 -induced surface warming is expected to remain elevated at this level for decades to centuries 14 . This occurs because for, and only for, time intervals of 40–200 years, the rate of atmospheric CO 2 uptake by the deep oceans (acting to reduce warming) occurs at a rate similar to the thermal adjustment of the deep oceans to raised atmospheric CO 2 (acting to increase warming) 9 , 15 .

Total anthropogenic warming is a function not only of CO 2 , but also of a range of other greenhouse gases and forcings 16 . These have different efficacies and lifetimes of influence on climate, generally shorter-lived than that of CO 2 . Non-CO 2 anthropogenic warming is therefore better determined not by cumulative emissions, but by the present-day emission rate plus a small correction for the long-term climate response to the average non-CO 2 forcing over a multi-decade to century time interval 17 . Hence, the IPCC statement “reaching and sustaining net-zero global anthropogenic CO 2 emissions and declining net non-CO 2 radiative forcing would halt anthropogenic global warming on multi-decadal timescales 2 .”

These observations have an immediate policy implication: it makes little sense to apply the net-zero concept on timescales shorter than decades. Achieving net zero through an unsustainable combination of fossil-fuel emissions and short-term removals is ultimately pointless. Carbon emissions and removals must balance over multi-decadal timescales (Fig. 1 ).

a – c , Current anthropogenic carbon flows to and from the atmosphere are not in equilibrium: emissions from fossil fuels, industrial processes and land-use change by far exceed the removal of carbon into land-use-related sinks ( a ) 16 . Net zero requires anthropogenic flows to and from the atmosphere to balance on aggregate. This necessitates a radical reduction in fossil-fuel- and land-use-related carbon emissions as well as an increase in geological and biological sinks ( b ). A durable net zero further recognizes that biological storage is limited in capacity and shorter-lived than geological storage. A durable net-zero state therefore requires that net anthropogenic flows to and from each sphere (not just the atmosphere) equal zero ( c ). Note that natural flows of carbon are not shown in this figure and involve a small net flow from the atmosphere to the biosphere when net zero is reached.

We must also accept that net-zero emissions may still be associated with some further very slow warming or cooling on longer timescales, and that the temperature implications of the net-zero concept when applied to non-CO 2 climate drivers are less clear than they are for CO 2 alone, depending on the specific mix of drivers 18 .

There are alternative interpretations of net zero. Sometimes, net zero is used simply to describe emissions trajectories consistent with 1.5 °C ( https://sciencebasedtargets.org/ ). While a helpful shorthand, this obscures the fact that halting global warming, at whatever temperature level, requires net-zero CO 2 emissions and declining non-CO 2 radiative forcing.

Alternatively, net zero is often understood to mean net-zero CO 2 -equivalent emissions aggregated using the 100-year ‘global warming potential’ metric. This cannot be related unambiguously to any temperature outcome, but is generally seen as more ambitious, and hence preferable, than ‘just’ halting human-induced global warming 19 . It may, of course, be necessary to aim for a long-term decline in global temperature. If so, the above empirical relationship remains applicable to determine what needs to be net zero to deliver this more ambitious goal. However, as we see it, the concept of net zero emerged from our understanding of what it would take to achieve a temperature goal, not vice versa.

The importance of these differences in interpretation should not be overstated: the fact that net zero needs to apply to a state of balance that can be maintained over multiple decades, meeting additional environmental and social criteria, limits the scope for compensation among different climate drivers. It also limits the scope for compensatory exchanges between different carbon pools in the atmosphere, biosphere, oceans and lithosphere.

The adoption of net-zero targets

The carbon budgets calculated by scientists apply to the global atmosphere, rather than individual entities. To turn net zero into a useful frame of reference for decision-makers, the global carbon constraint needs to be translated into individual decarbonization pathways for nation states, sub-national entities, companies and other organizations.

Setting such entity-level targets and defining how they interact requires judgement. There are many ways in which the remaining carbon budget can be managed. Although there is a considerable literature on this subject 18 , 20 , 21 , 22 , 23 , in practice defining the scope, timing, fairness and relevance of entity-level net-zero targets has been left to individual emitters and self-regulated voluntary codes. This leaves open the question of how a diverse set of voluntary pledges adds up to national targets and national targets add up to the global carbon budget.

The Paris Agreement leaves it to its parties to define their own emissions pathways or nationally determined contributions to global net zero. There is no official yardstick against which the adequacy, ambition or fairness of nationally determined contributions is measured. Instead, the Paris Agreement relies on process. Regular stocktakes are intended to catalyse ambitious action and ensure that national emissions pathways will gradually converge to a global net-zero state consistent with the long-term temperature goals.

More than 120 countries have now pledged to reach net zero in some shape or form around mid-century, consistent with the objectives of the Paris Agreement. They include China, the European Union and the United States, the world’s three largest greenhouse gas emitters.

Individual organizations are effectively accounted for in the carbon targets of the countries in which they operate, but many have made their own individual net-zero pledges. In doing so, they are guided by voluntary schemes, such as Cities Race to Zero, the Net Zero Asset Owners Alliance and the Science-based Target Initiative, which encourage entities to bring down their emissions as fast as reasonably practicable and many of which are partners of the United Nations’ Race to Zero campaign ( https://racetozero.unfccc.int/ ). Progress is measured and assessed by frameworks such as CDP ( https://www.cdp.net/en ) and the Transition Pathway Initiative ( https://www.transitionpathwayinitiative.org/ ).

At the time of writing, more than 100 regional governments, 800 cities and 1,500 companies have adopted organizational net-zero targets, often considerably earlier than mid-century 1 . One in five corporations in the Forbes Global 2,000 list have set a voluntary net-zero target.

Attributes of a credible net zero

The readiness with which a growing number of countries, sub-national entities and individual organizations have made net-zero pledges speaks to the unifying and galvanizing power of the net-zero narrative. These pledges should be encouraged. However, there is concern that these often-voluntary commitments allow too much discretion in the design of net-zero pathways and may therefore not be consistent with global net zero, or with ambitious climate action more generally 24 .

Governance, accountability and reporting mechanisms are currently inadequate. Long-term ambition is often not backed up by sufficient near-term action. Many entities have not yet set out detailed plans to achieve their pledges and are opaque about the role of carbon offsets in place of cutting their own emissions 1 . The environmental and social integrity of some of these offsets is questionable. As a result, some advocates have accused these pledges of amounting to little more than ‘greenwashing’ 24 , 25 .

These concerns do not negate the scientific logic of global net zero. However, they demonstrate the need for clear guardrails to ensure the robustness of net zero as a framework for climate action. Below, we set out seven attributes that we believe a successful net-zero framework must have (Fig. 2 ).

Attributes of net zero as a frame of reference .

Attribute 1—front-loaded emission reductions

There are many different pathways to bring down greenhouse gas emissions. The IPCC has identified over 200 scenarios that are consistent with either 1.5 °C or 2 °C global warming 2 . However, there are sound scientific and economic reasons to reduce emissions as much and as fast as possible.

Global temperature change is determined by cumulative emissions, that is, the total of all emissions over time, and not isolated emissions at a particular point in time (see above). How quickly emissions are reduced therefore matters. Scientists have demonstrated that every year of delay before initiating emission reductions decreases the remaining time available to reach net-zero emissions while keeping below 1.5 °C by approximately two years 26 , 27 .

Front-loading emission reductions also preserves optionality. In particular, it maintains the option to further tighten remaining carbon budgets in light of new scientific findings, for example, if carbon cycle feedbacks (such as more rapid thaw of permafrost) begin to add to anthropogenic emissions 28 , 29 .

Economic model calculations have shown that front-loading climate action, paired with long-term planning over several years, is the most cost-effective way to reach a given temperature target 30 , 31 , 32 , 33 . Earlier action helps (or would have helped) to overcome the inertia in economic systems 34 , 35 and allows learning and scale effects to unfold, bringing down technology costs 36 , 37 . It maximizes the growth potential of clean innovation and reduces the risk of investing in stranded assets, particularly in growing economies 38 , 39 , 40 .

To encourage early emission reductions, governance experts recommend the combination of long-term net-zero commitments—which set the direction of travel—with short-term interim targets, which define emissions pathways over decision-relevant time horizons. The two sets of targets are complementary and mitigate the well-known risk of time inconsistency in long-term political commitments 41 . Both at the corporate and country level, they should be anchored in robust and enforceable legal frameworks (that is, contracts, legislation or enforceable regulation) 42 , 43 .

Attribute 2—a comprehensive approach to emission reductions

A critical facet of net zero is the comprehensive emissions abatement that it implies. Under partial emissions targets, it was possible to subsume difficult emissions sources under the residual emissions that would remain. Net zero removes this option (except for the possibility of carbon removal, see attribute 3 below). It means tackling all emissions.

The traditional focus of emissions reduction strategies has been energy, and the scale-up of clean energy remains at the core of decarbonization 44 . However, important tipping points have been reached. The fall in renewable energy costs has been so steep that the transition to zero-carbon electricity now seems hard to stop 45 . The automotive industry appears to be at a similar tipping point, although the uptake of zero-emissions vehicles is still low 46 .

In most other sectors, the transition to zero carbon is still uncertain. Without diverting attention from finishing the job in the most advanced sectors, net zero is about extending the focus to ‘harder-to-treat’ sectors, such as heavy industries, buildings, food and agriculture, aviation, and mining. In most of these sectors, zero-carbon solutions exist, but they are still costly and not yet as established as incumbent technologies and infrastructures 47 .

Tackling all emissions requires an equally comprehensive approach to the involvement of stakeholders. There are signs that supportive coalitions on net zero are starting to emerge. Climate change is increasingly reaching community groups, city administrations, board rooms, regulatory agencies, central banks, international financial institutions and the courts 48 , 49 . In some countries, the climate debate has been energized by an increased role for participatory democracy in the form of citizens’ assemblies and juries 50 . This broad-based societal support will be essential for a successful net zero and requires the concept to be operationalized in ways that increase its public legitimacy.

Attribute 3—cautious use of carbon dioxide removal

In principle, net zero can be achieved through different levels of residual emissions and different forms of compensating removals. In reality, there is a strong case for a net-zero carbon balance that combines a very low level of residual emissions with low levels of multi-decadal removals.

Carbon dioxide removal will probably be constrained by cost considerations and geopolitical factors, as well as by biological, geological, technological and institutional limitations on our ability to remove carbon from the atmosphere and store it durably and safely. There are also concerns about moral hazard risks arising from an over-reliance on carbon removal strategies, which may enable business as usual rather than the drastic scaling back of fossil-fuel use 24 .

There are other unresolved issues. In the case of biological storage through large-scale plantations, often using exotic tree species, there are concerns about trade-offs with other ecosystem services and the permanence of the carbon store given the vulnerability of these approaches to hazards such as weather fluctuations, fire and pathogens. Conversely, nature-based solutions—biodiversity-based protection, restoration and sustainable management of native ecosystems—involve fewer trade-offs and are more resilient (see attribute 6 below). An additional concern is that climate change itself might already be destabilizing some terrestrial carbon reservoirs 51 . While this arguably strengthens the case for nature-based solutions to mitigate climate risks, it also raises questions about relying on them too heavily.

In the case of geological storage, the risk of physical reversal is thought to be extremely low, but questions remain about the appropriate rate of injection and the geo-mechanical response of the reservoir 52 . The public understanding and acceptability of subsurface geological storage is also still evolving. More nascent removal options, such as soil carbon sequestration, ocean alkalinization and mineralization need further development to ascertain their safety and effectiveness 53 .

Prioritizing emission reductions neither equates to ‘reduction only’, nor does it mean delaying the ramp-up of carbon dioxide removal. Most modelled pathways to meet the Paris Agreement involve a significant scaling up of removals 2 . Given that many important technologies are still in their infancy, much investment is and will be needed to ensure that there are enough removal options for residual emissions. We need to make progress as fast as realistically possible on both emission reductions and removals.

The regulatory frameworks that will govern the deployment of removals at scale are yet to be developed. Appropriate policy signals will be required to ensure the right balance between emissions and removals and the environmental integrity of any removal solutions that are being deployed. These rules will form part of broader legal and governance frameworks on the capture, transport and storage of CO 2 , which will ensure clear accountabilities, transparent reporting, prudent risk management and transparency about the environmental characteristics of different removal options. This is essential not just environmentally, but also to maintain public support and a social and political licence for carbon removal technologies 54 .

Attribute 4—effective regulation of carbon offsets

The need for social and environmental integrity in carbon dioxide removal is linked to the integrity, and appropriate regulation, of carbon offsets. Previous experience with carbon offset markets, such as the Clean Development Mechanism or the current voluntary carbon market, suggests that the environmental integrity of carbon offsets will be problematic, unless quality standards are upgraded and scrupulously enforced 55 , 56 , 57 .

Because very few organizations and not even all countries will be able to achieve the balance between residual emissions and removal into sinks themselves, there is a need for systems that can deliver a global balance between sources and sinks.

Such arrangements could take many forms 58 , 59 . Some governments may opt to procure carbon offsets centrally, through regular purchases to balance their national carbon account. Another structure is a private market for carbon offsets. The increased ambition embodied in net-zero pledges is already driving up demand for offsets 60 , renewing concerns over their effectiveness.

Social and environmental concerns about carbon credits centre around the credibility of their purported carbon benefit, including the risk of non-additionality, the poor monitoring of emissions avoidance, reduction or removal, and the presence of unwanted side-effects (see attribute 6 below). Because net zero requires the physical balancing of residual emissions with removals, any entity using carbon credits to deliver net zero would need to purchase exclusively carbon ‘removal’ credits 6 . This poses immediate technical challenges, as the infrastructures for robust monitoring, reporting and verification of removed carbon are yet to be developed.

A key issue is the longevity of storage, which depends on both social and physical factors. As shown above, net zero demands multi-decadal storage (see ‘Net zero as a scientific concept’). Geological storage should be possible for millennia, but the timescales associated with biological carbon storage in, for example, afforestation projects, range from less than a decade to over a century depending on governance and ownership 61 , and biophysical factors. Scientific understanding of the sequestration potential of different carbon sinks is constantly evolving, which introduces a degree of inherent indeterminacy in any offset scheme.

Despite appearances to the contrary, with a number of standards in place, and a large range of independent verification agencies, the current carbon offset market and its attendant governance mechanisms do not sufficiently address these concerns. Badly conceived schemes have been accused of issuing credits for the preservation of forests that were not under threat 62 , 63 or, in the case of commercial plantations, only offer short-term high-risk carbon storage with negative outcomes for biodiversity and local communities. The scaled-up use of carbon offsets will have to be accompanied by a radical enhancement of their quality and scaled-up regulatory scrutiny.

Attribute 5—an equitable transition to net zero

Fairness is an essential aspect of climate action. The fairness of net zero depends on how the burden of meeting the global target is shared across countries and within countries (for example, between regions, industries and population groups). This is a long-standing challenge for climate action, now compounded by the need to ensure that carbon removals (for example, through nature-based solutions) bolster, rather than impede, a just transition to zero-carbon societies.

The Paris Agreement is explicit about the need for an equitable transition. It urges global peaking of emissions, but emphasizes that “peaking will take longer for developing countries” and that net zero is to be achieved “on the basis of equity” and in the context of “sustainable development and efforts to eradicate poverty” (Article 4(1)). The Paris Agreement does not advocate undifferentiated uptake of net-zero targets across all countries. Rather, the emphasis in the agreement on equity, sustainable development and poverty eradication suggests a thoughtful balancing of responsibilities between countries at different levels of development, a recognition of transitions tailored to “different national circumstances”, and concern for distributional impacts within a country (see also attribute 7 below).

This has at least three implications 64 . First, some countries may need to reach net zero faster to create room for others that may take longer to reach net zero. Second, every country may chart its own path to net zero tailored to its own specific national circumstances and constraints. The Paris Agreement privileges ‘national circumstances’ both by adding the clause “in light of different national circumstances” to the principle of common but differentiated responsibilities and respective capabilities (Article 2(2)), and by centring its governance regime on nationally determined contributions. Third, developing countries need to be supported—in terms of finance, technology and capacity building—in reaching net zero 65 , 66 .

The transition to net zero will thus necessarily take different paths in different countries, and the dominant narrative driving each such transition will reflect a mix of priorities and efforts to harness multiple benefits, such as creating jobs, addressing local air pollution, ensuring energy security, or protecting vulnerable population groups.

These equity guardrails are key to ensuring a sense of solidarity, collective ownership and political buy-in, thus enhancing the chances of real action with global impact. They also anchor net zero in the principle of sustainable development, which balances social, economic and environmental objectives.

Attribute 6—alignment with broader socio-ecological objectives

Climate change is one of several pressing socio-ecological challenges, most of them interlinked. In some cases, climate change is a ‘threat multiplier’, exacerbating the negative impacts of other stressors (such as land-use change) on ecosystems and the communities dependent on them 67 . In others, climate change and other environmental stressors have the same root causes. For example, land-use change is both the biggest driver of biodiversity declines (accounting for approximately 30% of declines in global terrestrial habitat integrity) 68 and the second biggest source of greenhouse gas emissions (accounting for 23%) 69 .

Nature-based solutions, such as protecting or restoring natural ecosystems and sustainably managing working lands and seas, can therefore, in theory, simultaneously help limit surface warming and slow biodiversity declines while also supporting human societies in countless essential ways, including public health, livelihoods and food security 68 , 70 , 71 .

However, these multiple benefits are not guaranteed. Some activities are incorrectly badged as nature-based solutions, but are simply biological approaches to carbon storage, such as commercial plantations of exotic tree species in naturally treeless habitats. They can have negative outcomes for carbon storage, biodiversity and for local people 72 , 73 .

If nature-based solutions are to provide sustained benefits to people, the ecosystems involved must be healthy and resilient, that is, their ecological functions must be able to resist or recover from perturbations. Such ecological resilience is strongly determined by ecosystem connectivity and the genetic, functional and species richness at multiple trophic levels 74 . There is a deepening consensus about the critical importance of protecting, restoring and connecting a wide range of habitats across landscapes for the broad range of benefits they bring. There is also consensus around ensuring that nature-based solutions are designed and implemented by or in partnership with Indigenous peoples and local communities through a process that fully respects and champions local rights and knowledge, and generates local benefits (ref. 75 and https://nbsguidelines.info/ ). Thus, nature-based solutions must be biodiversity-based and people-led 71 .

Therefore, rather than narrowly pursuing one objective—carbon storage—net-zero plans must acknowledge a full range of ecosystem services and be embedded into broader strategies for socio-ecological sustainability. Shifting support for nature-based solutions from carbon-centric offsetting claims to unrestricted contributions could eliminate some of the above unintended consequences, and help protect and restore ecological resilience.

Attribute 7—pursuit of new economic opportunities

The scientific reality of a finite global carbon budget makes it easy to frame net zero as a zero-sum game. The narrative of burden sharing remains prominent in the international negotiations, and indeed how the remaining carbon space is allocated is an essential aspect of climate justice (as discussed in attribute 5 above). Yet, as attractive net-zero solutions begin to emerge, it will increasingly become clear that net zero can also be an economic opportunity 76 .

The economics literature has started to document the channels through which net-zero prosperity may materialize. In the short term, this includes the contribution zero-carbon investment can make to a sustainable economic recovery from the COVID-19 pandemic, subject to debt constraints 66 , 77 . It also includes the removal of economically harmful market and policy failures, such as the prevalence of fossil-fuel subsidies 78 . In the longer term, zero-carbon innovation may unleash a virtuous cycle of investment, renewal and growth 35 , 76 .

Realizing these opportunities is key to a successful net-zero transition. In the short term, however, the pursuit of economic opportunities will be hindered by structural rigidities in the economy. The net-zero transition requires large-scale changes in the way economies are run, the skills they demand and the capital assets they require.

In developing countries, which are less locked into high-carbon activities, this creates a need to proactively train a young workforce in the skills of the twenty-first century and to make long-lived investment decisions with net zero in mind, which may affect returns 79 . In industrialized countries, it will create short-term pressure on some workers, who may have to be reskilled and redeployed 80 , and the risk of stranded assets in high-carbon industries 38 .

Addressing these transition risks is an integral part of net-zero prosperity. There are only a few examples of successful industrial transitions, such as in Germany’s Ruhr region. They suggest that a just transition is possible, but it requires close collaboration between government, industry, labour unions and local communities, and substantial investment in education, skills and social protection 81 .

Conclusions

Limiting the rise in global average temperatures to whatever level ultimately requires a balance between the release of carbon dioxide into the atmosphere and its removal into sinks. The growth in net-zero commitments from countries, corporations and sub-national entities suggests that decision-makers increasingly understand this scientific reality.

This Perspective offers a series of interpretations of what net zero means and how it should be achieved. These interpretations ensure consistency with global temperature goals while embedding net zero into socio-political and legal contexts. We argue that it is possible to align net zero with sustainable development objectives, allow for different stages of development, and secure zero-carbon prosperity.

However, there are some clear constraints. Net-zero commitments are not an alternative to urgent and comprehensive emissions cuts. Indeed, net zero demands greater focus on eliminating difficult emissions sources than has so far been the case. The ‘net’ in net zero is essential, but the need for social and environmental integrity imposes firm constraints on the scope, timing and governance of both carbon dioxide removal and carbon offsets.

Not all these aspects are as yet sufficiently understood. The socio-political interpretation of net zero is therefore also a rich research agenda, and it will require input from many disciplines, from climate science, biology and geology to anthropology, law and economics.

There are clear risks of getting net zero wrong. However, the science leaves no alternatives if global temperature is to be stabilized. If interpreted right and governed well, net zero can be an effective frame of reference for climate action.

Change history

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In the version of this article initially published, the width of the outflowing arrow in the bottom-left of Fig. 1c (Lithosphere to Atmosphere) was oversized relative to the balance of the two inflowing arrows, and has been corrected in the HTML and PDF versions of the article.

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Acknowledgements

All authors are part of Oxford Net Zero, which is supported by the University of Oxford’s Strategic Research Fund. We also acknowledge funding from ClimateWorks (grant 19-1501), the Economic and Social Research Council (grant ES/S008381/1), EU Horizon 2020 (grants 869192 and 869357) and the Natural Environment Research Council (grant NE/V013106/1). The charts were produced by S. Littlewood.

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Fankhauser, S., Smith, S.M., Allen, M. et al. The meaning of net zero and how to get it right. Nat. Clim. Chang. 12 , 15–21 (2022). https://doi.org/10.1038/s41558-021-01245-w

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Net Zero by 2050

A Roadmap for the Global Energy Sector

This report is part of Net Zero Emissions

About this report

The number of countries announcing pledges to achieve net zero emissions over the coming decades continues to grow. But the pledges by governments to date – even if fully achieved – fall well short of what is required to bring global energy-related carbon dioxide emissions to net zero by 2050 and give the world an even chance of limiting the global temperature rise to 1.5 °C. This special report is the world’s first comprehensive study of how to transition to a net zero energy system by 2050 while ensuring stable and affordable energy supplies, providing universal energy access, and enabling robust economic growth. It sets out a cost-effective and economically productive pathway, resulting in a clean, dynamic and resilient energy economy dominated by renewables like solar and wind instead of fossil fuels. The report also examines key uncertainties, such as the roles of bioenergy, carbon capture and behavioural changes in reaching net zero.

Summary for policy makers

Reaching net zero emissions globally by 2050 is a critical and formidable goal.

The energy sector is the source of around three-quarters of greenhouse gas emissions today and holds the key to averting the worst effects of climate change, perhaps the greatest challenge humankind has faced. Reducing global carbon dioxide (CO 2 ) emissions to net zero by 2050 is consistent with efforts to limit the long-term increase in average global temperatures to 1.5˚C. This calls for nothing less than a complete transformation of how we produce, transport and consume energy. The growing political consensus on reaching net zero is cause for considerable optimism about the progress the world can make, but the changes required to reach net zero emissions globally by 2050 are poorly understood. A huge amount of work is needed to turn today’s impressive ambitions into reality, especially given the range of different situations among countries and their differing capacities to make the necessary changes. This special IEA report sets out a pathway for achieving this goal, resulting in a clean and resilient energy system that would bring major benefits for human prosperity and well-being.

The global pathway to net zero emissions by 2050 detailed in this report requires all governments to significantly strengthen and then successfully implement their energy and climate policies. Commitments made to date fall far short of what is required by that pathway. The number of countries that have pledged to achieve net zero emissions has grown rapidly over the last year and now covers around 70% of global emissions of CO 2 . This is a huge step forward. However, most pledges are not yet underpinned by near-term policies and measures. Moreover, even if successfully fulfilled, the pledges to date would still leave around 22 billion tonnes of CO 2 emissions worldwide in 2050. The continuation of that trend would be consistent with a temperature rise in 2100 of around 2.1 °C. Global emissions fell in 2020 because of the Covid-19 crisis but are already rebounding strongly as economies recover. Further delay in acting to reverse that trend will put net zero by 2050 out of reach.

In this Summary for Policy Makers, we outline the essential conditions for the global energy sector to reach net zero CO 2 emissions by 2050. The pathway described in depth in this report achieves this objective with no offsets from outside the energy sector, and with low reliance on negative emissions technologies. It is designed to maximise technical feasibility, cost-effectiveness and social acceptance while ensuring continued economic growth and secure energy supplies. We highlight the priority actions that are needed today to ensure the opportunity of net zero by 2050 – narrow but still achievable – is not lost. The report provides a global view, but countries do not start in the same place or finish at the same time: advanced economies have to reach net zero before emerging markets and developing economies, and assist others in getting there. We also recognise that the route mapped out here is a path, not necessarily the path, and so we examine some key uncertainties, notably concerning the roles played by bioenergy, carbon capture and behavioural changes. Getting to net zero will involve countless decisions by people across the world, but our primary aim is to inform the decisions made by policy makers, who have the greatest scope to move the world closer to its climate goals.

Net zero by 2050 hinges on an unprecedented clean technology push to 2030

The path to net zero emissions is narrow: staying on it requires immediate and massive deployment of all available clean and efficient energy technologies. In the net zero emissions pathway presented in this report, the world economy in 2030 is some 40% larger than today but uses 7% less energy. A major worldwide push to increase energy efficiency is an essential part of these efforts, resulting in the annual rate of energy intensity improvements averaging 4% to 2030 – about three-times the average rate achieved over the last two decades. Emissions reductions from the energy sector are not limited to CO 2 : in our pathway, methane emissions from fossil fuel supply fall by 75% over the next ten years as a result of a global, concerted effort to deploy all available abatement measures and technologies.

Ever-cheaper renewable energy technologies give electricity the edge in the race to zero. Our pathway calls for scaling up solar and wind rapidly this decade, reaching annual additions of 630 gigawatts (GW) of solar photovoltaics (PV) and 390 GW of wind by 2030, four-times the record levels set in 2020. For solar PV, this is equivalent to installing the world’s current largest solar park roughly every day. Hydropower and nuclear, the two largest sources of low-carbon electricity today, provide an essential foundation for transitions. As the electricity sector becomes cleaner, electrification emerges as a crucial economy-wide tool for reducing emissions. Electric vehicles (EVs) go from around 5% of global car sales to more than 60% by 2030.

Priority action: Make the 2020s the decade of massive clean energy expansion

All the technologies needed to achieve the necessary deep cuts in global emissions by 2030 already exist, and the policies that can drive their deployment are already proven.

As the world continues to grapple with the impacts of the Covid-19 pandemic, it is essential that the resulting wave of investment and spending to support economic recovery is aligned with the net zero pathway. Policies should be strengthened to speed the deployment of clean and efficient energy technologies. Mandates and standards are vital to drive consumer spending and industry investment into the most efficient technologies. Targets and competitive auctions can enable wind and solar to accelerate the electricity sector transition. Fossil fuel subsidy phase-outs, carbon pricing and other market reforms can ensure appropriate price signals. Policies should limit or provide disincentives for the use of certain fuels and technologies, such as unabated coal-fired power stations, gas boilers and conventional internal combustion engine vehicles. Governments must lead the planning and incentivising of the massive infrastructure investment, including in smart transmission and distribution grids.

Electric car sales in the net zero pathway, 2020-2030

Capacity additions of solar pv and wind in the net zero pathway, 2020-2030, energy intensity of gdp in the net zero pathway, 2020-2030, net zero by 2050 requires huge leaps in clean energy innovation.

Reaching net zero by 2050 requires further rapid deployment of available technologies as well as widespread use of technologies that are not on the market yet. Major innovation efforts must occur over this decade in order to bring these new technologies to market in time. Most of the global reductions in CO 2 emissions through 2030 in our pathway come from technologies readily available today. But in 2050, almost half the reductions come from technologies that are currently at the demonstration or prototype phase. In heavy industry and long-distance transport, the share of emissions reductions from technologies that are still under development today is even higher.

The biggest innovation opportunities concern advanced batteries, hydrogen electrolysers, and direct air capture and storage. Together, these three technology areas make vital contributions the reductions in CO 2 emissions between 2030 and 2050 in our pathway. Innovation over the next ten years – not only through research and development (R&D) and demonstration but also through deployment – needs to be accompanied by the large-scale construction of the infrastructure the technologies will need. This includes new pipelines to transport captured CO 2 emissions and systems to move hydrogen around and between ports and industrial zones.

Priority action: Prepare for the next phase of the transition by boosting innovation

Clean energy innovation must accelerate rapidly, with governments putting R&D, demonstration and deployment at the core of energy and climate policy.

Government R&D spending needs to be increased and reprioritised. Critical areas such as electrification, hydrogen, bioenergy and carbon capture, utilisation and storage (CCUS) today receive only around one-third of the level of public R&D funding of the more established low-carbon electricity generation and energy efficiency technologies. Support is also needed to accelerate the roll-out of demonstration projects, to leverage private investment in R&D, and to boost overall deployment levels to help reduce costs. Around USD 90 billion of public money needs to be mobilised globally as soon as possible to complete a portfolio of demonstration projects before 2030. Currently, only roughly USD 25 billion is budgeted for that period. Developing and deploying these technologies would create major new industries, as well as commercial and employment opportunities.

Annual CO2 emissions savings in the net zero pathway, 2030 and 2050, relative to 2020

The transition to net zero is for and about people.

A transition of the scale and speed described by the net zero pathway cannot be achieved without sustained support and participation from citizens. The changes will affect multiple aspects of people’s lives – from transport, heating and cooking to urban planning and jobs. We estimate that around 55% of the cumulative emissions reductions in the pathway are linked to consumer choices such as purchasing an EV, retrofitting a house with energy-efficient technologies or installing a heat pump. Behavioural changes, particularly in advanced economies – such as replacing car trips with walking, cycling or public transport, or foregoing a long-haul flight – also provide around 4% of the cumulative emissions reductions.

Providing electricity to around 785 million people that have no access and clean cooking solutions to 2.6 billion people that lack those options is an integral part of our pathway. Emissions reductions have to go hand-in-hand with efforts to ensure energy access for all by 2030. This costs around USD 40 billion a year, equal to around 1% of average annual energy sector investment, while also bringing major co-benefits from reduced indoor air pollution.

Some of the changes brought by the clean energy transformation may be challenging to implement, so decisions must be transparent, just and cost-effective. Governments need to ensure that clean energy transitions are people-centred and inclusive. Household energy expenditure as a share of disposable income – including purchases of efficient appliances and fuel bills – rises modestly in emerging market and developing economies in our net zero pathway as more people gain access to energy and demand for modern energy services increases rapidly. Ensuring the affordability of energy for households demands close attention: policy tools that can direct support to the poorest include tax credits, loans and targeted subsidies.

Priority action: Clean energy jobs will grow strongly but must be spread widely

Energy transitions have to take account of the social and economic impacts on individuals and communities, and treat people as active participants.

The transition to net zero brings substantial new opportunities for employment, with 14 million jobs created by 2030 in our pathway thanks to new activities and investment in clean energy. Spending on more efficient appliances, electric and fuel cell vehicles, and building retrofits and energy-efficient construction would require a further 16 million workers. But these opportunities are often in different locations, skill sets and sectors than the jobs that will be lost as fossil fuels decline. In our pathway, around 5 million jobs are lost. Most of those jobs are located close to fossil fuel resources, and many are well paid, meaning structural changes can cause shocks for communities with impacts that persist over time. This requires careful policy attention to address the employment losses. It will be vital to minimise hardships associated with these disruptions, such as by retraining workers, locating new clean energy facilities in heavily affected areas wherever possible, and providing regional aid.

Global employment in energy supply in the Net Zero Scenario, 2019-2030

An energy sector dominated by renewables.

In the net zero pathway, global energy demand in 2050 is around 8% smaller than today, but it serves an economy more than twice as big and a population with 2 billion more people. More efficient use of energy, resource efficiency and behavioural changes combine to offset increases in demand for energy services as the world economy grows and access to energy is extended to all.

Instead of fossil fuels, the energy sector is based largely on renewable energy. Two-thirds of total energy supply in 2050 is from wind, solar, bioenergy, geothermal and hydro energy. Solar becomes the largest source, accounting for one-fifth of energy supplies. Solar PV capacity increases 20-fold between now and 2050, and wind power 11-fold.

Net zero means a huge decline in the use of fossil fuels. They fall from almost four-fifths of total energy supply today to slightly over one-fifth by 2050. Fossil fuels that remain in 2050 are used in goods where the carbon is embodied in the product such as plastics, in facilities fitted with CCUS, and in sectors where low-emissions technology options are scarce.

Electricity accounts for almost 50% of total energy consumption in 2050. It plays a key role across all sectors – from transport and buildings to industry – and is essential to produce low-emissions fuels such as hydrogen. To achieve this, total electricity generation increases over two-and-a-half-times between today and 2050. At the same time, no additional new final investment decisions should be taken for new unabated coal plants, the least efficient coal plants are phased out by 2030, and the remaining coal plants still in use by 2040 are retrofitted. By 2050, almost 90% of electricity generation comes from renewable sources, with wind and solar PV together accounting for nearly 70%. Most of the remainder comes from nuclear.

Emissions from industry, transport and buildings take longer to reduce. Cutting industry emissions by 95% by 2050 involves major efforts to build new infrastructure. After rapid innovation progress through R&D, demonstration and initial deployment between now and 2030 to bring new clean technologies to market, the world then has to put them into action. Every month from 2030 onwards, ten heavy industrial plants are equipped with CCUS, three new hydrogen-based industrial plants are built, and 2 GW of electrolyser capacity are added at industrial sites. Policies that end sales of new internal combustion engine cars by 2035 and boost electrification underpin the massive reduction in transport emissions. In 2050, cars on the road worldwide run on electricity or fuel cells. Low-emissions fuels are essential where energy needs cannot easily or economically be met by electricity. For example, aviation relies largely on biofuels and synthetic fuels, and ammonia is vital for shipping. In buildings, bans on new fossil fuel boilers need to start being introduced globally in 2025, driving up sales of electric heat pumps. Most old buildings and all new ones comply with zero-carbon-ready building energy codes. 1

Priority action: Set near-term milestones to get on track for long-term targets

Governments need to provide credible step-by-step plans to reach their net zero goals, building confidence among investors, industry, citizens and other countries.

Governments must put in place long-term policy frameworks to allow all branches of government and stakeholders to plan for change and facilitate an orderly transition. Long-term national low-emissions strategies, called for by the Paris Agreement, can set out a vision for national transitions, as this report has done on a global level. These long-term objectives need to be linked to measurable short-term targets and policies. Our pathway details more than 400 sectoral and technology milestones to guide the global journey to net zero by 2050.

There is no need for investment in new fossil fuel supply in our net zero pathway

Beyond projects already committed as of 2021, there are no new oil and gas fields approved for development in our pathway, and no new coal mines or mine extensions are required. The unwavering policy focus on climate change in the net zero pathway results in a sharp decline in fossil fuel demand, meaning that the focus for oil and gas producers switches entirely to output – and emissions reductions – from the operation of existing assets. Unabated coal demand declines by 98% to just less than 1% of total energy use in 2050. Gas demand declines by 55% to 1 750 billion cubic metres and oil declines by 75% to 24 million barrels per day (mb/d), from around 90 mb/d in 2020.

Clean electricity generation, network infrastructure and end-use sectors are key areas for increased investment. Enabling infrastructure and technologies are vital for transforming the energy system. Annual investment in transmission and distribution grids expands from USD 260 billion today to USD 820 billion in 2030. The number of public charging points for EVs rises from around 1 million today to 40 million in 2030, requiring annual investment of almost USD 90 billion in 2030. Annual battery production for EVs leaps from 160 gigawatt-hours (GWh) today to 6 600 GWh in 2030 – the equivalent of adding almost 20 gigafactories 2 each year for the next ten years. And the required roll-out of hydrogen and CCUS after 2030 means laying the groundwork now: annual investment in CO 2 pipelines and hydrogen-enabling infrastructure increases from USD 1 billion today to around USD 40 billion in 2030.

Priority action: Drive a historic surge in clean energy investment

Policies need to be designed to send market signals that unlock new business models and mobilise private spending, especially in emerging economies.

Accelerated delivery of international public finance will be critical to energy transitions, especially in developing economies, but ultimately the private sector will need to finance most of the extra investment required. Mobilising the capital for large-scale infrastructure calls for closer co operation between developers, investors, public financial institutions and governments. Reducing risks for investors will be essential to ensure successful and affordable clean energy transitions. Many emerging market and developing economies, which rely mainly on public funding for new energy projects and industrial facilities, will need to reform their policy and regulatory frameworks to attract more private finance. International flows of long-term capital to these economies will be needed to support the development of both existing and emerging clean energy technologies.

Clean energy investment in the net zero pathway, 2016-2050

An unparalleled clean energy investment boom lifts global economic growth.

Total annual energy investment surges to USD 5 trillion by 2030, adding an extra 0.4 percentage point a year to annual global GDP growth, based on our joint analysis with the International Monetary Fund. This unparalleled increase – with investment in clean energy and energy infrastructure more than tripling already by 2030 – brings significant economic benefits as the world emerges from the Covid-19 crisis. The jump in private and government spending creates millions of jobs in clean energy, including energy efficiency, as well as in the engineering, manufacturing and construction industries. All of this puts global GDP 4% higher in 2030 than it would be based on current trends.

Governments have a key role in enabling investment-led growth and ensuring that the benefits are shared by all. There are large differences in macroeconomic impacts between regions. But government investment and public policies are essential to attract large amounts of private capital and to help offset the declines in fossil fuel income that many countries will experience. The major innovation efforts needed to bring new clean energy technologies to market could boost productivity and create entirely new industries, providing opportunities to locate them in areas that see job losses in incumbent industries. Improvements in air quality provide major health benefits, with 2 million fewer premature deaths globally from air pollution in 2030 than today in our net zero pathway. Achieving universal energy access by 2030 would provide a major boost to well-being and productivity in developing economies.

New energy security concerns emerge, and old ones remain

The contraction of oil and natural gas production will have far-reaching implications for all the countries and companies that produce these fuels. No new oil and natural gas fields are needed in our pathway, and oil and natural gas supplies become increasingly concentrated in a small number of low-cost producers. For oil, the OPEC share of a much-reduced global oil supply increases from around 37% in recent years to 52% in 2050, a level higher than at any point in the history of oil markets. Yet annual per capita income from oil and natural gas in producer economies falls by about 75%, from USD 1 800 in recent years to USD 450 by the 2030s, which could have knock-on societal effects. Structural reforms and new sources of revenue are needed, even though these are unlikely to compensate fully for the drop in oil and gas income. While traditional supply activities decline, the expertise of the oil and natural gas industry fits well with technologies such as hydrogen, CCUS and offshore wind that are needed to tackle emissions in sectors where reductions are likely to be most challenging.

The energy transition requires substantial quantities of critical minerals, and their supply emerges as a significant growth area. The total market size of critical minerals like copper, cobalt, manganese and various rare earth metals grows almost sevenfold between 2020 and 2030 in the net zero pathway. Revenues from those minerals are larger than revenues from coal well before 2030. This creates substantial new opportunities for mining companies. It also creates new energy security concerns, including price volatility and additional costs for transitions, if supply cannot keep up with burgeoning demand.

The rapid electrification of all sectors makes electricity even more central to energy security around the world than it is today. Electricity system flexibility – needed to balance wind and solar with evolving demand patterns – quadruples by 2050 even as retirements of fossil fuel capacity reduce conventional sources of flexibility. The transition calls for major increases in all sources of flexibility: batteries, demand response and low-carbon flexible power plants, supported by smarter and more digital electricity networks. The resilience of electricity systems to cyberattacks and other emerging threats needs to be enhanced.

Priority action: Address emerging energy security risks now

Ensuring uninterrupted and reliable supplies of energy and critical energy-related commodities at affordable prices will only rise in importance on the way to net zero.

The focus of energy security will evolve as reliance on renewable electricity grows and the role of oil and gas diminishes. Potential vulnerabilities from the increasing importance of electricity include the variability of supply and cybersecurity risks. Governments need to create markets for investment in batteries, digital solutions and electricity grids that reward flexibility and enable adequate and reliable supplies of electricity. The growing dependence on critical minerals required for key clean energy technologies calls for new international mechanisms to ensure both the timely availability of supplies and sustainable production. At the same time, traditional energy security concerns will not disappear, as oil production will become more concentrated.

Critical minerals demand in the net zero pathway, 2020-2050

Oil supply in the net zero pathway, 2020-2050, international co-operation is pivotal for achieving net zero emissions by 2050.

Making net zero emissions a reality hinges on a singular, unwavering focus from all governments – working together with one another, and with businesses, investors and citizens. All stakeholders need to play their part. The wide-ranging measures adopted by governments at all levels in the net zero pathway help to frame, influence and incentivise the purchase by consumers and investment by businesses. This includes how energy companies invest in new ways of producing and supplying energy services, how businesses invest in equipment, and how consumers cool and heat their homes, power their devices and travel.

Underpinning all these changes are policy decisions made by governments. Devising cost-effective national and regional net zero roadmaps demands co-operation among all parts of government that breaks down silos and integrates energy into every country’s policy making on finance, labour, taxation, transport and industry. Energy or environment ministries alone cannot carry out the policy actions needed to reach net zero by 2050.

Changes in energy consumption result in a significant decline in fossil fuel tax revenues. In many countries today, taxes on diesel, gasoline and other fossil fuel consumption are an important source of public revenues, providing as much as 10% in some cases. In the net zero pathway, tax revenue from oil and gas retail sales falls by about 40% between 2020 and 2030. Managing this decline will require long-term fiscal planning and budget reforms.

The net zero pathway relies on unprecedented international co-operation among governments, especially on innovation and investment. The IEA stands ready to support governments in preparing national and regional net zero roadmaps, to provide guidance and assistance in implementing them, and to promote international co-operation to accelerate the energy transition worldwide.

Priority action: Take international co-operation to new heights

This is not simply a matter of all governments seeking to bring their national emissions to net zero – it means tackling global challenges through co-ordinated actions.

Governments must work together in an effective and mutually beneficial manner to implement coherent measures that cross borders. This includes carefully managing domestic job creation and local commercial advantages with the collective global need for clean energy technology deployment. Accelerating innovation, developing international standards and co-ordinating to scale up clean technologies needs to be done in a way that links national markets. Co-operation must recognise differences in the stages of development of different countries and the varying situations of different parts of society. For many rich countries, achieving net zero emissions will be more difficult and costly without international co-operation. For many developing countries, the pathway to net zero without international assistance is not clear. Technical and financial support is needed to ensure deployment of key technologies and infrastructure. Without greater international co-operation, global CO 2 emissions will not fall to net zero by 2050.

Global energy-related CO2 emissions in the net zero pathway and Low International Cooperation Case, 2010-2090

A zero-carbon-ready building is highly energy efficient and either uses renewable energy directly or uses an energy supply that will be fully decarbonised by 2050, such as electricity or district heat.

Battery gigafactory capacity assumption = 35 gigawatt-hours per year.

Reference 1

Reference 2, related net zero reports, related files, executive summaries.

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Defining net zero

ISO to provide international platform for developing world’s first consensus-based net-zero guiding principles and the benchmark for the climate agenda.

Climate change is the most pressing existential threat to our planet. The IPCC ’s most recent report issued a clarion call to organizations and policymakers across the world, encouraging them to take meaningful action to curb global warming.

The science is clear: the worst effects of climate change can be avoided by limiting global warming to 1.5 °C. To achieve this, anthropogenic (human-caused) emissions must reach net zero by the year 2050.

Net zero is often referred to as a state in which any human-produced carbon dioxide or other planet-warming gases can be removed from the atmosphere. This can be done naturally, such as by restoring forests that absorb CO 2 out of the air, or by using technology that can capture and store emissions or directly pull CO 2 from the atmosphere. Despite this common understanding, it remains unclear what net zero means in practice for state and non-state actors.

This year’s World Environment Day theme of “Only One Earth” resonates with the current global agenda to reduce the impacts of climate change. As the world seeks to reduce variation and bring alignment to “net zero”, unity has never been more important.

ISO is a part of Our 2050 World , a collaboration to support state and non-state actors to accelerate their “race to zero” using standards. As such, it is committed to accelerating progress by providing the international platform to develop net-zero guiding principles through the launch of an International Workshop Agreement ( IWA ).

Anthropogenic emissions must reach net zero by the year 2050.

This IWA will enable all interested parties to take part and aims to form consensus on the definitions surrounding net zero to support voluntary initiatives and standards, as well as national and international policy objectives.

Greater consistency and clarity surrounding net zero will ultimately increase the impact of any global efforts. The guiding principles will seek to include the following:

A definition of net zero and related concepts (national, regional and organizational)
How this definition should be incorporated into initiatives, strategies and policies at all levels
The basis for accountability mechanisms and measurements, such as development of consistent indicators enabling reporting and communication

Importantly, these net-zero guiding principles will build upon the progress made through existing initiatives, campaigns and governance from state and non-state actors, supporting their purpose and increasing their reach.

ISO Secretary-General Sergio Mujica commented: “Our International Workshop Agreement will help move the global community from commitments to action. We recognize the need to mobilize the world to drive real change quickly and effectively in order to help countries meet their net-zero targets and build a sustainable future. The IWA will be instrumental in helping to implement policies more effectively. Together, we will reach our climate goals more quickly.”

International Standards continue to play a vital role in bolstering the work of the global climate science community and fostering public trust in climate research. ISO has hundreds of standards that are essential in supporting this field – they help actors adapt to climate change, quantify greenhouse gas emissions and promote the dissemination of best practice. Together with the IWA, these will form a suite of well-known ISO standards on climate change mitigation.

Read more about ISO’s climate action and register your interest to be part of the IWA on net-zero guiding principles.

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The Zero-Dose Child: Explained

Despite decades of progress increasing access to immunisation in lower-income countries, at least 12.4 million children still go without basic, routine vaccines every year. Gavi, the Vaccine Alliance is now focusing on reaching these zero-dose children.

26 April 2021
by Gavi Staff

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Twenty years ago, the global effort to ensure every child has access to vaccines was stuck in a rut. Since 1990 immunisation coverage in lower-income countries had started to stagnate, and had even declined, and the poorest countries had to wait an average of seven years after the richest before getting access to new vaccines. Ultimately, it was the children left unprotected against deadly diseases like measles, polio and pneumonia that suffered the consequences.

Nearly 50% of zero-dose children live in three key geographic contexts: urban areas, remote communities and populations in conflict settings.

Two decades later we have a lot to celebrate. Ten years of decline has turned into twenty years of growth. In lower-income countries 78% of children received routine vaccines in 2020, despite the impact of the COVID-19 pandemic, up from 59% in 2000, and more than 500 new vaccine programmes have been introduced and scaled up. The number of children dying from vaccine-preventable diseases in these countries has dropped by 70%. Millions more children are now growing up protected.

One of the key factors in this extraordinary progress was the creation of Gavi, the Vaccine Alliance. Created in 2000 and bringing together a range of organisations working to improve access to immunisation in lower-income countries, from governments and UN agencies, to vaccine industry and civil society organisations, the Vaccine Alliance now helps to immunise almost half the world’s children.

However, despite this progress, millions of children are still being left behind. In 2020, 12.4 million of the 72.5 million children that Gavi aims to reach in lower-income countries do not receive a single vaccine shot, leaving them vulnerable to some of the world’s deadliest diseases. Although only one in eight children in Gavi-supported countries do not receive any vaccines, zero-dose children account for nearly half of all vaccine-preventable deaths.

Gavi is now launching a global movement to bring an end to this inequity, making reaching zero-dose children – defined as children who don’t receive a single dose of diphtheria, tetanus and pertussis-containing vaccine – with immunisation its key priority for the next five years. The goal: to reduce the number of zero-dose children by 25% by 2025, and by 50% by 2030, which will also mark the closing of the Sustainable Development Goals.

Missed communities

Reaching these children means reaching the missed communities they are a part of. These unprotected communities are not only potential epicentres of disease outbreaks, they are also often deprived of other basic services and suffer from entrenched gender inequality.

Two-thirds of zero-dose children live in households surviving on less than US$ 1.90 per day – the international poverty line. Their mothers are twice as likely to miss out on antenatal care or skilled birth attendance. The homes they live in are less likely to have access to clean water or sanitation. A lack of immunisation is just one of a range of problems.

This means that collaboration across governments, international agencies and civil society could bring benefits far beyond immunisation alone. By working together, we have a chance to leverage all our strengths to reach these communities with everything they need for a healthy, successful life – from nutrition and education to clean water to immunisation.

The impact of COVID-19

The COVID-19 pandemic is making things worse. With immunisation, it threatens to unravel two decades of progress. COVID-19 will also make the challenge of reaching these zero-dose children even harder, as fiscal space contracts, already-limited health system capacity is diverted to COVID-19, populations move and trust in health authorities, as well as demand for vaccines, is impacted. Reaching the communities that these children are part of is more urgent and more important than ever.

However, the pandemic also provides opportunities. Governments are now working hard to stamp out COVID-19 wherever it’s circulating, meaning many of the missed communities in which zero-dose children live will be forming new contact points with the health system.

Have you read?

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Using these new contacts to reach missed communities will improve our ability to tackle the next pandemic: the contact with the health system provided by immunisation not only improves the chances of a child living a healthy, successful life, it also means health professionals can be on the look-out for new outbreaks and new emerging diseases. This early warning system is our first line of defence against the next COVID-19.

Where do zero-dose children live?

While these missed communities exist in the majority of countries in which the Vaccine Alliance works, two-thirds of zero-dose children in 2019 lived in just five countries: Nigeria, India, the Democratic Republic of the Congo, Pakistan and Ethiopia. A further 18% lived in 16 fragile countries. There are substantial variations between and within countries, for example DRC and Ethiopia have the largest number of zero-dose children in remote rural areas, while Nigeria has the largest number of zero-dose children impacted by conflict.

What is Gavi doing about it?

There is no one way of reaching these missed communities. Approaches will vary from country to country and within countries, contexts and settings. It will require flexibility, innovation and the expertise of organisations working in a range of fields.

It will mean working with new partners and new ways of working, particularly in fragile, conflict and cross-border settings outside government reach. Over the past year Gavi has announced new partnerships with humanitarian organisations, including the International Federation of Red Cross and Red Crescent Societies (IFRC), the International Rescue Committee (IRC), Save the Children, the International Organization of Migration (IOM), the UN Office for Project Services (UNOPS) and UNHCR – the UN Refugee Agency. These will be crucial to reach zero-dose children in humanitarian and conflict areas.

It will also mean new funding. In December 2020, the Gavi Board approved US$ 500 million over the next five years to help reach the millions of children still not receiving routine vaccines in Gavi-supported countries.

It will also require a renewed focus on gender – one key barrier stopping children from receiving vaccines is entrenched gender inequalities. Only through dedicated funding, new partnerships and collaboration across the Vaccine Alliance on equity with gender as an integral part will we make the progress we need on reaching the unreached.

Above all, it will mean doing things differently, trying new approaches and learning from past ones, with a central mission to leave no one behind.

This piece was updated on 17 June 2022 to reflect 2020 figures for the number of zero-dose children.

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Universal Definition and Standardisation of Net Zero released by the United Nation’s High Level Expert Group

Australia | Publication | November 2022

Introduction

Recommendations, pathways for action, how we can assist you.

The United Nations’ ( UN ) High Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities ( UN Expert Group ), established by the UN’s Secretary General Antonio Guterres in March 2022, has released its first report, ‘Integrity Matters: Net Zero Commitments By Businesses, Financial Institutions, Cities and Regions’ ( Net Zero Report ) at the UN climate summit in Egypt.

The Net Zero Report sets out five principles and ten recommendations, which together, create a universal definition for net zero and standardise net zero pledges and commitments ( Net Zero Claims ). The Net Zero Report defines ‘net zero’ as a state by which the greenhouse gases ( GHG ) going into the atmosphere are reduced as close to zero as possible and any residual emissions are balanced by permanent removals from the atmosphere by 2050. 1 The principles and recommendations aim to guide the future of the net zero process and the role of offsets, and prevent greenwashing, ambiguity and false Net Zero Claims.

In this client alert, we provide an overview of the actions that need to be undertaken by regulators, corporations, states and cities to comply with the principles and recommendations set out in the Net Zero Report.

The Net Zero Report cites more than 29 disasters that have cost over $1 billion each so far this year, creating a significant toll for communities and the environment. 2 It also refers to global wildlife populations that have decreased by 70 percent as a result of climate change and human activities. 3 Urgent calls to limit global warming to 1.5 degrees, peak emissions by 2025, and cut emissions in half by 2030 are failing. Current policies and Nationally Determined Contributions are not on track to achieve these targets, according to the most recent UN Environment Program’s Emissions Gap Report. 4

Since the adoption of the Paris Agreement in 2015, an increasingly growing number of Net Zero Claims have been made by non-state actors. Varying guidelines and sets of criteria that are intended to provide clarity, standardisation, regulation and transparency for both the supply and demand sides of the market have been released. However, the varying guidelines and sets of criteria have created a lack of trust within the market as to what a credible and accepted standard for the development, measurement, assessment and accountability of non-state Net Zero Claims included or involved. The Net Zero Claims are negatively affected by the lack of trust in the market, as it has led some people to question the credibility of the Net Zero Claims process.

With a purpose of addressing Net Zero Claims by non-state actors including corporations, financial institutions, and local and regional governments, the UN Expert Group has built upon and endorsed existing credible frameworks such as the efforts by the Integrity Council for the Voluntary Carbon Market (ICVCM ), the Voluntary Carbon Markets Integrity Initiative , and the Science-Based Targets Initiative.

Plans for net zero must be ambitious, have integrity and transparency, and be credible and fair. The below five principles provide guidance for setting and achieving Net Zero Claims:

“ Ambition which delivers significant near and medium term emissions reductions on a path to global net zero by 2050.
Demonstrated integrity by aligning commitments with actions and investments.
Radical transparency in sharing relevant, non-competitive, comparable data on plans and progress.
Established credibility through plans based in science and third-party accountability.
Demonstrable commitment to both equity and justice in all actions.” 5

The Net Zero Report states that voluntary purchases of carbon credits have a role to play, however a system to define and ensure standards is not in place yet. The ICVCM is currently working to deliver a transparent, high integrity standard for measuring GHG emissions credits that can be claimed. You can read our client alert regarding the release of the ICVCM’s draft 10 Core Carbon Principles, Assessment Procedure and Assessment Framework for context here .

Each recommendation in the Net Zero Report contains a main recommendation, with further detailed recommendations.

1. Announcing a Net Zero Pledge

A Net Zero Pledge should be made publicly by the leadership of the non-state actor, represent a fair share of the needed global climate mitigation effort, and contain interim targets and associated plans to reach the targets for 2025, 2030 and 2035. The plans should be in line with the Intergovernmental Panel on Climate Change ( IPCC ) or the International Energy Agency’s ( IEA ) net zero GHG emissions modelled pathways.

2. Setting Net Zero Targets

In setting net zero targets, non-state actors must have short, medium and long term absolute emissions reduction targets. Where appropriate, relative emissions reduction targets across the value chain should be at least consistent with the IPCC modelled pathways.

Initial short term targets should be made within a year of making the pledge with the first target set for 2025. Targets must account for all GHG emissions and include separate targets for material non-CO2 GHG emissions.

Targets must include:

scope 1, 2 and 3 emissions. Explanations need to be provided for any missing data for scope 3 emissions;
all emissions facilitated by financial entities;
all territorial emissions for cities;
embedded emissions within fossil fuel reserves; and
a concerted effort to speed the creation of datasets needed to produce plans to reduce GHG emissions generated by scope 3 emissions.

3. Using Voluntary Credits

High integrity carbon credits in voluntary markets should be used for beyond value chain mitigation. However, the credits cannot be counted towards a non-state actor’s interim emissions reductions required by its net zero pathway. Non-state actors are encouraged to balance out any annual unabated emissions by purchasing high integrity carbon credits. A high‐quality carbon credit should, at a minimum, fit the criteria of additionality and any credit transactions must be transparently reported.

4. Creating a Transition Plan

Non-state actors must publicly disclose comprehensive and actionable net zero transition plans which indicate the actions that will be undertaken to meet all targets, as well as align governance and incentive structures, capital expenditures, research and development, skills and human resource development, and public advocacy, while also supporting a just transition. Transition plans should be updated every five years and progress should be reported annually.

5. Phasing out of Fossil Fuels and Scaling Up Renewable Energy

All net zero pledges should include specific targets aimed at ending the use of and/or support for fossil fuels in line with IPCC and IEA net zero GHG emissions modelled pathways that limit warming to 1.5°C with no or limited overshoot, with global emissions declining by at least 50% by 2030, reaching net zero by 2050. The transition must be just and be matched by a fully funded transition towards renewable energy.

6. Aligning Lobbying and Advocacy

Non-state actors must align their external policy and engagement efforts, including membership in trade associations, with the goals of reducing global emissions by at least 50% by 2030 and reaching net zero by 2050. This means lobbying for positive climate action and not lobbying against it. Trade affiliations should be publicly disclosed.

7. People and Nature in the Just Transition

Businesses, cities and regions with material land use emissions must achieve and maintain operations and supply chains that avoid the conversion of remaining natural ecosystems. Financial institutions should have a policy of not investing or financing businesses linked to deforestation and should eliminate agricultural commodity driven deforestation from their investment and credit portfolios by 2025.

8. Increasing Transparency and Accountability

GHG emissions data, net zero targets and the plans for progress towards meeting the targets must be disclosed annually. Reporting must be completed through public platforms that feed into the UN Framework Convention on Climate Change’s Climate Action Portal to address data gaps, inconsistencies and inaccessibility that slow climate action.

9. Investing in Just Transitions

Financial institutions and multinational corporations should participate in developing country led initiatives to decarbonise and provide renewable energy access, such as Just Energy Transition Partnerships or other country level just transition frameworks. The Net Zero Report highlights the importance of sustained investment in the capacity of developing countries and local developers to prepare projects as key to unlocking the just energy transition pipeline.

All businesses, including state owned enterprises, with operations in developing countries should demonstrate how their net zero transition plans contribute to the economic development of regions where they are operating, including integrating just transition elements, resilience and other developmental concerns, such as inequality, gender and energy access issues. The Net Zero Report provides an example of developing skills for vulnerable communities dependent on high emitting industries.

10. Accelerating the Road to Regulation

Regulators should develop regulation and standards in areas including net zero pledges, transition plans and disclosure, starting with high impact corporate emitters, including private and state owned enterprises and financial institutions. It is suggested that a new Task Force should be launched on Net Zero Regulation.

Crucial next steps of potential pathways for regulators, initiatives and standard setters are identified within the Net Zero Report. Three key pathways for action are:

“Non‐state actors should review their net zero commitments against these recommendations to see how they stack up with a focus on their interim targets, how they set targets and how they report progress.”
“Policymakers and regulators should integrate these recommendations in key existing policies that guide non‐state actors working on net zero. This will make the minimum requirements clearer and more transparent.”
“There is a need for a Task Force on net zero Regulation to convene a community of international regulators covering all industries to work together towards net zero. Using the Task Force on Climate Related Disclosures process as a useful precedent, this community would be broader, and could include members from all regions and bodies such as the Financial Stability Board, International Organization of Securities Commissions, International Suitability Standards Board and other experts.” 6

In order to maintain the legitimacy of Net Zero Claims, it is critical that integrity, credibility and transparency is front and centre. Increasingly, there is a greater focus from regulators, investors and broader civil society around the world on the accountability of Net Zero Claims. The Australian Securities and Investment Commission, Australian Prudential Regulation Authority and Australian Competition and Consumer Commission have all clearly indicated their focus on regulating greenwashing and climate risks and disclosure.

If low quality Net Zero Claims are made, it will undermine genuine efforts and reputation, create confusion, and fail to deliver the urgent climate change action that is required to achieve a 1.5 degrees goal. Our carbon markets practice has a deep understanding of how best to approach your Net Zero Claims, having been tracking developments such as the release of the Net Zero Report for many years. Please contact a member of our team to see how we can assist you further.

This article was written by Elisa de Wit and Elyssia Gasparotto.

Page 15, High-Level Expert Group on the Net Zero Emissions Commitments of Non-State Entities (Net Zero Report), available online here: high-level_expert_group_n7b.pdf (un.org) .

Page 11, Net Zero Report.

Page 13, Net Zero Report.

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What Does "Net-Zero Emissions" Mean? 8 Common Questions, Answered

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Editor's Note: This article was updated in March 2023 to include WRI’s latest research and information about new national net-zero targets.

The latest climate science is clear: Limiting global warming to 1.5 degrees C (2.7 degrees F) is still possible. But to avoid the worst climate impacts, global greenhouse gas (GHG) emissions will need to drop by nearly half by 2030 and ultimately reach net zero.

Recognizing this urgency, a rapidly growing number of national governments, local governments and business leaders are making commitments to reach net-zero emissions within their jurisdictions or businesses. To date, over 90 countries have communicated such “net-zero targets,” including the world’s largest emitters (China, the United States and India). On top of that, hundreds more regions, cities and companies have set targets of their own.

But what does a net-zero target mean, what’s the science behind net zero and which countries have already made such commitments? Here are answers to eight common questions:

1. What Does Net-Zero Emissions Mean?

Net-zero emissions, or “net zero,” will be achieved when all emissions released by human activities are counterbalanced by removing carbon from the atmosphere in a process known as carbon removal .

Achieving net zero will require a two-part approach: First and foremost, human-caused emissions (such as those from fossil-fueled vehicles and factories) should be reduced as close to zero as possible. Any remaining emissions should then be balanced with an equivalent amount of carbon removal, which can happen through natural approaches like restoring forests or through technologies like direct air capture and storage (DACS), which scrubs carbon directly from the atmosphere.

Timeline infographic that explains net-zero emissions, showing how greenhouse gas emissions must be reduced and carbon removal increased to reach net-zero emissions by mid-century.

2. When Does the World Need to Reach Net-Zero Emissions?

Under the Paris Agreement, countries agreed to limit warming to well below 2 degrees C (3.6 degrees F), ideally to 1.5 degrees C (2.7 degrees F). Global climate impacts that are already unfolding under the current 1.1 degrees C (1.98 degrees F) of warming — from melting ice to devastating heat waves and more intense storms — show the urgency of minimizing temperature increase.

The latest science suggests that limiting warming to 1.5 degrees C depends on CO2 emissions reaching net zero between 2050 and 2060. Reaching net zero earlier in that range (closer to 2050) avoids a risk of temporarily "overshooting," or exceeding 1.5 degrees C. Reaching net zero later (nearer to 2060) almost guarantees surpassing 1.5 degrees C for some time before global temperature can be reduced back to safer limits through carbon removal.

Critically, the sooner emissions peak , and the lower they are at that point, the more realistic achieving net zero becomes. This would also create less reliance on carbon removal in the second half of the century.

This does not suggest that all countries need to reach net-zero emissions at the same time. However, the chances of limiting warming to 1.5 degrees C depend significantly on how soon the highest emitters reach net zero. Equity-related considerations — including responsibility for past emissions, equality in per-capita emissions and capacity to act — also suggest earlier dates for wealthier, higher-emitting countries.

Importantly, the time frame for reaching net-zero emissions is different for CO2 alone versus for CO2 plus other greenhouse gases like methane, nitrous oxide and fluorinated gases. For non-CO2 emissions, the net zero date is later, in part because models assume that some of these emissions — such as methane from agricultural sources — are more difficult to phase out. However, these potent but short-lived gases will drive temperatures higher in the near term, potentially pushing temperature change past the 1.5 degrees C threshold much earlier.

Because of this, it's important for countries to specify whether their net-zero targets cover CO2 only or all GHGs. A comprehensive net-zero emissions target would include all GHGs, ensuring that non-CO2 gases are also reduced with urgency.

3. Is the World on Track to Reach Net-Zero Emissions on Time?

No — despite the enormous benefits of climate action to date, progress is happening far too slowly for the world to hold temperature rise to 1.5 degrees C (2.7 degrees F). The UN finds that climate policies currently in place point to a 2.8 degrees C temperature rise by the end of the century.

4. What Needs to Happen to Achieve Net-Zero Emissions?

To achieve net-zero emissions, rapid transformation will be required across all global systems — from how we power our economies, to how we transport people and goods and feed a growing population.

For example, in pathways to 1.5 degrees C, zero-carbon sources will need to supply 98%-100% of electricity by 2050 . Energy efficiency and fuel-switching measures are critical for reducing emissions from transportation. Improving the efficiency of food production, changing dietary choices, restoring degraded lands and reducing food loss and waste also have significant potential to reduce emissions.

Additionally, action must be taken to reverse course in cases where change is at a standstill or headed in the wrong direction entirely. For instance , efforts to phase out unabated coal remain well off-track and must decline six times faster by 2030. The world also needs to halt deforestation and increase tree cover gain two times faster by 2030.

Infographic outlining 10 solutions that can help the world reach net-zero emissions by mid-century, such as decarbonizing energy and transportation, halting deforestation and improving food systems..

It is critical that the structural and economic transition toward net zero is approached in a just manner , especially for workers tied to high-carbon industries. Indeed, the costs and benefits of transitioning to a net-zero emissions economy must be distributed equitably.

The good news is that most of the technologies needed to unlock net zero are already available and increasingly cost-competitive with high-carbon alternatives. Solar and wind now provide the cheapest power available for most of the world. Markets are waking up to these opportunities and to the risks of a high-carbon economy, and they are shifting accordingly.

Investments in carbon removal techniques are also necessary. The different pathways assessed by the IPCC to achieve 1.5 degrees C all rely on carbon removal to some extent . Removing CO2 from the atmosphere will compensate for emissions from sectors in which reaching net-zero emissions is more difficult, such as aviation.

5. How Many Countries Have Set Net-Zero Targets?

Global momentum for setting net-zero targets is growing quickly, with key economies like China, the United States, India and the European Union articulating such commitments. Bhutan was the first country to set a net-zero target in 2015. Now over 90 countries, representing nearly 80% of global emissions, are covered by a net-zero target.

Climate Watch’s Net-Zero Tracker shows how these targets were set, such as through nationally determined contributions (NDCs), long-term low GHG emissions development strategies (long-term strategies), domestic laws, policies, or high-level political pledges from heads of state or other cabinet members. The tracker also includes information on the scope of national net-zero targets, providing details about the GHGs and sectors covered by each, the extent to which the target relies on international offsets and more.

6. Does the Paris Agreement Commit Countries to Achieving Net-Zero Emissions?

In short, yes. Specifically, the Paris Agreement sets a long-term goal of achieving "a balance between anthropogenic emissions by sources and removals by sinks of greenhouse gases in the second half of this century, on the basis of equity, and in the context of sustainable development and efforts to eradicate poverty." This concept of balancing emissions and removals is akin to reaching net-zero emissions.

The Glasgow Climate Pact , signed at COP26 and marking the five-year anniversary of the Paris Agreement, also emphasized the importance of setting ambitious net zero goals. The pact urges countries to move “towards just transitions to net zero emissions by or around midcentury, taking into account different national circumstances.” To this end, it encourages parties “that have not yet done so to communicate…long-term low greenhouse gas emission development strategies” that set the country on a pathway toward net zero. The shift from “in the second half of this century” to “by or around mid-century” reflects a notable increase in perceived urgency.

7. Why and How Should Countries Align Their Near-term Emissions Reduction Targets with Longer-term Net-Zero Goals?

Countries typically set net-zero targets for around 2050 — nearly three decades from now. However, to ensure that the world gets on the right track toward reaching net zero, those long-term objectives must guide and inform near-term action today. This will help avoid locking in carbon-intensive, non-resilient infrastructure and technologies. Countries can also cut near- and long-term costs by investing in green infrastructure that will not need to be phased out later, designing consistent policies and sending strong signals to the private sector to invest in climate action.

Under the Paris Agreement, countries agreed to submit climate plans every five years, known as nationally determined contributions (NDCs ). NDCs, which currently target 2030, are an important tool to align near- and long-term emissions reduction goals. When informed by a country’s long-term vision, these documents can help governments implement the policies necessary today to realize an ambitious mid-century objective.

Many countries with net-zero targets are beginning to incorporate them directly into their NDCs, particularly now that the Glasgow Climate Pact “notes the importance of aligning nationally determined contributions with long-term low greenhouse gas emission development strategies.”

8. Are Net-Zero Targets a Form of Greenwashing?

Not necessarily, but they can be if used as an excuse to not take bold climate action in the near term.

Although net-zero targets continue to gain traction with governments and companies, skeptical voices have emerged, from academic journals to Greta Thunberg’s speech in Davos. Critiques of net-zero targets include:

The “net” aspect of net-zero targets could dampen efforts to rapidly cut emissions.

Critics are concerned that this could foster an overreliance on carbon removal, allowing decision-makers to use net-zero targets to avoid emission reductions in the near term. Decision-makers can address this concern by setting ambitious gross reduction targets (targets that do not rely on removals) alongside their longer-term net reduction targets.

Some countries’ net-zero targets rely on purchasing emissions reductions, delaying reductions within their own boundaries.

Some countries are setting net-zero targets that rely on carbon offsetting, which involves investing in or paying for emissions reductions from other countries to use toward their own targets. There’s concern that government leaders might use this strategy to avoid reducing their own emissions in the long term. Decision-makers can address this concern by setting deep emission reduction targets that explicitly avoid or limit using offsets to achieve their goals.

WRI’s experts are closely following the UN climate talks. Watch our Resource Hub for new articles, research, webinars and more.

The time horizon for net-zero targets — typically 2050 — feels distant.

Today’s infrastructure can last for decades and have a major impact on mid-century targets. Decision-makers must take this into account by establishing near- and mid-term milestones for their path to net-zero emissions, including by setting ambitious 2030 emission reduction targets as part of their NDCs. NDCs are subject to transparency and accountability mechanisms under the Paris Agreement that can foster implementation in the near term, which is critical for a long-term net-zero goal to be credible.

In short, net-zero commitments must be robust to be effective and advance climate action. Countries must take concrete steps to ensure this if they are to effectively address the challenge at hand.

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What is net zero?

Digital generated image of solar panel system standing on circle with grass and flowers on blue background

If you follow sustainability and climate topics, you’ve probably heard the term net zero thrown around. Still puzzled?

A net-zero gain of GHG in the atmosphere is achieved when the level of GHG emissions released into the atmosphere is equal to the amount removed. This is also referred to as carbon neutrality.

CO 2 is a gas found in the Earth’s atmosphere—and it’s part of the planet’s air, along with nitrogen, oxygen, methane , and other gases. CO 2 helps to trap heat , but too much of it can cause problems, such as heat waves or flooding. It occurs both naturally and as a byproduct of human activities such as burning fossil fuels.

All industries—not just the energy sector—must achieve net zero to avoid a permanently warmer planet. Read on to learn more about what net zero means, and how it can be achieved.

Learn more about McKinsey’s Sustainability Practice .

What is decarbonization?

Decarbonization is the mitigation, cessation, or reduction of carbon in the atmosphere. It is achieved by switching to energy sources or materials that emit less carbon, often from high carbon-emitting fossil fuels and by counteracting any carbon that is emitted.

Keeping global warming to 1.5°C above preindustrial levels by limiting the buildup of atmospheric GHGs will be necessary to prevent permanent warming of the planet and catastrophic consequences. Those efforts are referred to as decarbonization. Many companies, countries, and organizations have pledged to decarbonize, or to make the net-zero transition , in the coming years. The power, oil and gas, and transport industries are frequently cited as the biggest emitters, but all industries need to work toward decarbonization to achieve net zero.

Getting to net zero is most significant at the global level, given the universal nature of the transition. Seven major energy and land-use systems (power, industry, mobility, buildings, agriculture, forestry, and waste) contribute to emissions, and all of them will need to undergo transformation, especially considering the interdependency of these systems. But people and organizations can set their own net-zero aspirations. Actions that can help include choosing low-carbon-emitting alternatives, such as solar and wind power , instead of fossil fuels, and counteracting any new emissions through active carbon removal. Circularity can also be a significant lever for decarbonization. For instance, in steel production, increasing the share of recycled steel—which emits less carbon dioxide than creating new steel—is an important pathway to reducing emissions.

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Join us for a series of dynamic virtual events during COP28. Discover new research, practical strategies, and collaborations across sectors that propel climate action and growth towards net-zero.

It’s not feasible to reduce carbon emissions to zero, so widely employing effective carbon removal and long-term storage will be necessary to halt the progression of global warming.

What would a net-zero transition involve?

In describing the net-zero transition, it’s important to note that McKinsey’s research is not a projection or prediction, and it does not claim to be exhaustive; instead, it simulates one hypothetical, orderly path toward 1.5°C using the Net Zero 2050 scenario from the Network for Greening the Financial System (NGFS) . This provides an order-of-magnitude estimate of economic costs and societal adjustments associated with the net-zero transition. (A full discussion of the research methodology can be found in our full report, The net-zero transition: What it would cost, what it could bring .)

With that understood, our analysis suggests six characteristics that define a global net-zero transition :

Universal . All energy and land-use systems would need to be transformed, affecting every country and every sector of the economy, directly or indirectly.
Significant . Spending on physical assets that could help reach net zero would need to rise from $3.5 trillion spent per year today to $9.2 trillion annually. Total spending through 2050 could reach $275 trillion.
Front-loaded . The spending on physical assets could be more significant in the early stages of the shift, likely rising to almost 9 percent of global GDP from 2026 to 2030 (compared with just under 7 percent in 2022) before falling. Likewise, electricity costs could increase for a time before stabilizing or decreasing from 2020 levels.
Uneven . Sectors representing about 20 percent of the global economy would see the most economic exposure to the transition. Also, developing countries and fossil-fuel-rich regions are more susceptible to changes in output, capital stock, and employment because exposed sectors make up relatively large parts of their economies.
Exposed to risks . A transition in which high-emissions assets are retired before low-emissions assets come online could lead to volatile energy supply and prices if not managed carefully.
Rich in opportunity . The net-zero transition would create new efficiencies and new markets for low-emissions products.

Learn more about McKinsey’s Sustainability Practice .

How can business leaders create value in the net-zero transition?

As the momentum toward net zero becomes undeniable, investors, customers, and regulators have raised their expectations for companies. Nearly 90 percent of emissions are now targeted for reduction under net-zero commitments , and financial institutions responsible for more than $130 trillion of capital have pledged that they will manage these assets along a 1.5°C commitment pathway.

Circular, white maze filled with white semicircles.

Introducing McKinsey Explainers : Direct answers to complex questions

To keep up, businesses must be bold. Instead of playing defense, as organizations have largely done until now, business leaders must pivot to an offensive position, working to meet growing demand for climate-friendly goods and services, and the green energy, equipment, and infrastructure needed to produce them. First movers can gain an advantage by using low-cost green financing to build out carbon-free production capacities. They can also win big contracts to fill orders for scarce commodities such as green steel or recycled plastics.

Some companies are already taking advantage of the opportunity at hand. In analyzing their approaches, four tactics stand out :

transforming business portfolios with special attention to industry segments with serious growth potential
building green businesses that enable them to penetrate new markets
differentiating with green products and new value propositions in existing markets to gain market share and price premiums
decarbonizing operations and existing supply chains

For business leaders looking to go on the offense, McKinsey has identified 11 high-potential value pools that could be worth up to more than $12 trillion of yearly revenues by 2030. Read more here .

What will it take to decarbonize industries?

Each industry and company is affected by different factors in decarbonizing its operations, so companies looking to decarbonize will opt for approaches that suit their needs. Here’s a look at some of the most affected sectors, which together account for about 85 percent of global GHG emissions through their operations or products:

Fossil fuels. Combustion of fossil fuels produces 83 percent of global CO 2 emissions. In the decarbonization journey for fossil-fuel industries , players are pursuing energy efficiency, driving electrification, and managing fugitive methane emissions (for example, those that escape through degraded flange joints, valve glands, or seals), among other actions. Oil and gas companies in particular are making the low-carbon transition by working several levers, including transforming into diversified energy players.
Power. Decarbonizing the power sector will require phasing out power generation from fossil fuels and adding capacity for low-emissions power to meet demand that’s currently coming from economic development and the electrification of other sectors.
Mobility. Road transportation accounts for three-quarters of all mobility emissions , so decarbonizing it will be crucial. Efforts here could involve replacing vehicles that have internal-combustion engines with vehicles that have battery electric power or hydrogen fuel cells .
Industry. Steel and cement are core components of this category, and together they account for about 14 percent of global CO 2 emissions. Decarbonization efforts might involve installing equipment for carbon capture and storage or switching to processes or fuels with low or no emissions.
Buildings. Decarbonizing the buildings and real-estate sector will involve improving energy efficiency (for instance, by using insulation) and replacing heating and cooking equipment powered by fossil fuels with low-emissions systems.
Agriculture and food. A few actions can help reduce agricultural emissions. Using greenhouse-gas-efficient farming practices can aid in decarbonization, as can changes at a consumer level—for example, if people eat fewer ruminant animals (such as cows) that generate lots of methane .
Forestry and land use. CO 2 emissions in this sector often come from land clearing and deforestation. What can curtail these emissions? Efforts could include halting deforestation and speeding up efforts to restore natural environments, such as forests, that can be a net sink for emissions.
New energy sectors (hydrogen and biofuels). There will be a lot of opportunities to expand low-emissions energy technologies. And even if expanding capacity and infrastructure for low-carbon fuels requires additional capital spending of $230 billion per year through 2050, the hydrogen and biofuels sectors could create around two million jobs by then.

A net-zero guide for nine key sectors also offers insight on decarbonizing the world’s industries.

Learn more about McKinsey’s Agriculture , Real Estate , Automotive & Assembly , Electric Power & Natural Gas , and Oil & Gas Practices.

Do companies need to decarbonize supply chains?

Companies increasingly recognize the need to reduce emissions that occur in their upstream or downstream value chain—and these are sometimes referred to as scope 3 emissions, as defined in the Greenhouse Gas Protocol . For many companies, scope 3 emissions account for as much as 80 percent of their total climate impact (as compared with scope 1 and scope 2 emissions , which are produced directly by companies or indirectly through the purchase of energy). But targeting scope 3 emissions will be challenging. Here are five issues that companies need to address to make supply chain decarbonization happen:

a lack of carbon accounting foundations
overreliance on secondary data for scope 3 emissions
uncertainty over the cost and technical feasibility of carbon-reduction levers
industry-wide collaboration to address many sources of emissions
sustained engagement by internal and external stakeholders in long-term change programs

What about climate technology?

Climate technology is any technology that works to reduce emissions or to address the effects of global warming. It involves many subcategories of use, all aimed at slowing the progression of global warming and transitioning operations to a greener state. Some of that abatement technology is still in the R&D stage, but McKinsey estimates that 60 percent of the necessary emissions abatement in the European Union for reaching net zero will come from widely deploying proven technologies . Five areas offer considerable promise when it comes to technology and climate change, and they could attract $2 trillion in capital by 2025:

electrification, including better electric-vehicle (EV) batteries and more efficient building systems
agriculture, including zero-emissions farming equipment and bioengineering efforts
power grid improvements, including long-duration storage and high-efficiency materials
hydrogen, including efforts to build infrastructure and facilitate low-cost production
carbon capture, use, and storage (CCUS) technologies to decarbonize hard-to-abate sectors or to remove GHGs from the atmosphere to drive “ negative emissions ”
circularity, meaning reusing products when they reach the end of their life cycles , which has the potential to be a driver for decarbonization in the steel and cement industries

Climate technology both improves on existing processes to lower carbon production and presents ways to actively prevent atmospheric emissions or remove carbon from the atmosphere. The past decade has seen strides in climate technology. For example, the cost of some renewable-energy projects dropped by almost 90 percent. With capital increasing and fiscal support for low-carbon innovation from some governments, there’s a lot of potential in climate technology, even if the challenge is formidable.

McKinsey has pledged to reach net-zero climate impact as a firm by 2030. For more in-depth exploration of decarbonization and net zero, see McKinsey’s Sustainability Insights . Learn more about sustainability consulting , plus decarbonization transformation and net-zero and ESG strategy —and check out sustainability-related job opportunities if you’re interested in working at McKinsey.

Articles referenced include:

“ Playing offense to create value in the net-zero transition ,” April 13, 2022. Michael Birshan, Stefan Helmcke, Sean Kane, Anna Moore, and Tomas Nauclér .
“ What it will cost to get to net-zero ,” January 29, 2022, by Gautam Kumra and Jonathan Woetzel
“ The net-zero transition: What it would cost, what it could bring ,” January 25, 2022, Mekala Krishnan , Hamid Samandari , Jonathan Woetzel , Sven Smit , Daniel Pacthod , Dickon Pinner, Tomas Nauclér , Humayun Tai , Annabel Farr, Weige Wu, and Danielle Imperato
“ Innovating to net zero: An executive’s guide to climate technology ,” October 28, 2021, by Tom Hellstern, Kimberly Henderson , Sean Kane , and Matt Rogers
“ Making supply-chain decarbonization happen ,” June 4, 2021, Peter Spiller
“ How negative emissions can help organizations meet their climate goals ,” June 30, 2021, by Peter Cooper, Emma Gibbs , Peter Mannion, Dickon Pinner, and Gregory Santoni

Want to know more about net zero?

The net-zero transition: What it would cost, what it could bring

The net-zero challenge: Accelerating decarbonization worldwide

$Climate math: What it takes to limit warming to 1.5°C$

Climate math: What it takes to limit warming to 1.5°C

Destination Zero: the state of corporate climate action

The South Pole 2023/2024 Net Zero Report

Hot off the press

We've surveyed 1,400 businesses across 12 countries and 14 sectors to produce 2024's definitive report on the corporate landscape and progress towards net zero.

Building on the previous three research reports, we dig deep into some of the biggest trends in corporate sustainability right now:

Why and which sectors are greenhushing the most?
How on track are climate conscious companies in reaching big climate targets?
What is holding them back and what solutions are they turning towards to move from ambition to action?

Don't have time to read the full report? Access the executive summary below.

A note from our ceo.

Now, more than ever, we must embrace the ethos of continuous improvement. In the midst of the climate crisis, we must work together to create and implement the new blueprints for action across industries, technologies, geographies and ecosystems. All companies across every sector must pick up the pace, turning net zero ambition into tangible climate action.

John Davis, Interim CEO, South Pole

Download now

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Crossing the Line to Net Zero - The state of Net Zero commitments

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Net zero emissions can be reached by switching to renewable energy.

When 'net-zero' is reached, this means that global greenhouse gas emissions from human activity are in balance with emissions reductions. Image: UNSPLASH/chris robert

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Reaching net zero emissions means removing an equal amount of CO2 from the atmosphere as we release into it.
Despite the growth of sustainable technologies in recent years, carbon emissions continue to increase.
Current climate change commitments are not enough to keep the planet within 1.5℃ above pre-industrial times.
Urgent and coordinated global action is needed within the next decade to combat the growing climate change threat.

Calls for governments, companies and other organizations to bolster commitments to reach net zero emissions are becoming increasingly widespread as the effects of failing to limit climate change become more apparent.

But what does “net zero” actually mean? And importantly, what can be done to put the planet’s emissions on a safe course? Put simply, the term net zero applies to a situation where global greenhouse gas emissions from human activity are in balance with emissions reductions . At net zero, carbon dioxide emissions are still generated, but an equal amount of carbon dioxide is removed from the atmosphere as is released into it, resulting in zero increase in net emissions.

While sustainability efforts are increasing around the world, some sectors are harder to decarbonize than others. Heavy industries like iron and steelmaking, for example, and transport like aviation, shipping and road haulage are particularly hard to electrify. Abating emissions in these sectors requires new climate-tech solutions, such as carbon-capture utilization and storage (CCUS) technologies that prevent CO2 emissions from heavy industry reaching the atmosphere. Synthetic fuels can provide cleaner drop-in alternatives to fossil fuels like petrol or diesel for aeroplanes, ships and trucks. Many new emissions-busting technologies are still at the early stage of development, with the business case yet to be proven. Reaching net zero will require huge investment to scale up these solutions and bring costs down.

The growing climate crisis

Since the first COP talks held in 1995 , the energy transition has gained momentum. Power from wind and solar sources is fast becoming cheaper than fossil fuel alternatives, large parts of society and industry are being electrified, and technologies like carbon capture and synthetic fuels are helping to decarbonize hard-to-electrify sectors like steelmaking and aviation.

Energy transition innovations like these — and others still to be developed — are a crucial part of efforts to combat climate change. But despite advances, much of this technology is yet to be scaled up and global greenhouse gas emissions continue to increase.

a chart showing that current climate commitments put the planet on course to reach between 2.7 – 3.1℃ by 2100

Annual global greenhouse gas emissions exceeded 50 gigatonnes , before the pandemic brought many countries to a virtual economic standstill. But as the world bounces back to business-as-usual, emissions are once again on the rise. Current climate policies put the planet on course to reach at least 2.7℃ above pre-industrial times by 2100 . This potentially cataclysmic rate of warming is approximately twice the 1.5℃ target set by the Paris Agreement.

What can we do to reach net zero emissions?

Climate science and scenarios outlined in reports by bodies like the IEA and the IPCC , all call for urgent action to address the climate crisis. The coming decade is crucial. Agreements reached at the COP26 climate talks in Glasgow, UK, are a vital chance to gain a global consensus on action to cut emissions and reach net zero. Commitment is needed from global leaders to at least halve global emissions by 2030 and reach net zero by mid-century. And a clear plan for how to deliver on these commitments is needed, along with interim emissions targets. As the climate crisis is a global threat, the world needs to find global solutions, by committing to support developing countries' efforts to mitigate and adapt to climate change.

Climate change poses an urgent threat demanding decisive action. Communities around the world are already experiencing increased climate impacts, from droughts to floods to rising seas. The World Economic Forum's Global Risks Report continues to rank these environmental threats at the top of the list.

To limit global temperature rise to well below 2°C and as close as possible to 1.5°C above pre-industrial levels, it is essential that businesses, policy-makers, and civil society advance comprehensive near- and long-term climate actions in line with the goals of the Paris Agreement on climate change.

The World Economic Forum's Climate Initiative supports the scaling and acceleration of global climate action through public and private-sector collaboration. The Initiative works across several workstreams to develop and implement inclusive and ambitious solutions.

This includes the Alliance of CEO Climate Leaders, a global network of business leaders from various industries developing cost-effective solutions to transitioning to a low-carbon, climate-resilient economy. CEOs use their position and influence with policy-makers and corporate partners to accelerate the transition and realize the economic benefits of delivering a safer climate.

The First Movers Coalition , announced at COP26, is a partnership between the World Economic Forum and US Special Presidential Envoy for Climate John Kerry.

It’s a platform for companies to commit to buying zero-emission goods and services by 2030, to create demand for low-carbon technologies, make them cost-competitive and build the clean supply chains of the future.

Three main areas of action were outlined in a recent open letter for world leaders at COP26 , signed by more than 90 CEOs of multinational companies: 1. The switch from fossil fuels to clean energy and clean energy products needs to accelerate in order to achieve net zero. Policymakers must shift subsidies and financial support away from fossil fuels to clean energy and low carbon technologies, cut tariffs on climate-friendly practices and goods, and take adequate measures to ensure a just transition.

2. Policymakers must support and incentivize first-movers in the fight against climate change, to help scale existing proven solutions and develop new sustainable technologies. Universally harmonized laws and regulations can help accelerate key technologies and sustainable best practices and encourage public adoption of low-carbon products.

3. Public and private investment is a crucial part of creating resilient supply chains and infrastructure that can help advance climate resilience, sustainable food production and secure water supplies. Mobilizing capital for large scale infrastructure projects requires a coordinated approach between developers, investors, public finance institutions and governments, particularly in developing countries.

The IEA’s recent Net Zero by 2050 report sets out a roadmap for policymakers and world leaders to follow, setting out key milestones over the coming three decades to reach net zero by 2050. Reaching net zero by 2050 is not going to be easy, but it can be done.

The science is clear, what is needed now is urgent, robust and sustained global action.

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World Economic Forum articles may be republished in accordance with the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International Public License, and in accordance with our Terms of Use.

The views expressed in this article are those of the author alone and not the World Economic Forum.

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No Credit Score Doesn’t Mean a Zero Credit Score

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The most frustrating thing about credit might be the chicken-and-egg problem of establishing it: Nobody wants to give you credit when you don’t have a track record of using credit.

But if you’ve never had credit and don’t have a credit score, that doesn’t mean you have a zero credit score. You have the absence of a score: You’re “credit invisible.”

Why you don’t have a credit score

No one has a credit score of zero, no matter how badly they have mishandled credit in the past.

The most widely used credit scores, FICO and VantageScore, are on a range from 300 to 850. As of April 2021, only 3% of consumers had a FICO 8 score below 500. Tommy Lee, principal scientist at FICO, said scores of 300 are "extremely rare."

Reasons you might not have a score are:

You’ve never been listed on a credit account.

You haven’t used credit in at least six months.

You have only recently applied for credit or been added to an account.

What’s the starting point for your score?

Just as being new to credit doesn’t mean you start at zero, it also doesn’t mean you begin in the basement at 300. After all, if you’ve never had credit, you’ve never made score-devastating mistakes.

When you have no credit history, the credit bureaus just don’t know enough about you to guess whether you’ll pay back borrowed money. And that’s all a credit score is — an estimate of the likelihood you’ll pay back the next credit you’re granted, based on the data in your credit reports.

Once you begin using credit, scores can be calculated. You likely won't start with a good credit score but you won’t be at the bottom of the scale, either.

How to get credit in the first place

To introduce yourself to the credit bureaus and develop a credit history, you should apply for credit. Two products designed specifically for helping build credit are:

Secured credit cards . These credit cards, as their name suggests, are secured with cash. The deposit is typically the credit limit.

Credit-builder loans . These are loans that are released to you only after you have made the payments. They can be a good way to build a payment history and to accumulate a small emergency fund at the end of a loan term.

Before you apply, request a free credit report from each of the three credit reporting agencies by using AnnualCreditReport.com . If you’ve never had credit but do have a file, that’s a red flag: Maybe someone else’s information has been mixed up with yours or someone is using your identity to get credit. Dispute credit report errors to get them cleaned up.

Once you’re approved for your first lines of credit, follow these basic rules:

Pay bills on time, every time. Payment history influences your scores the most.

Use only a small portion of your credit limit. Keep your balances at less than 30% of your limit, and the lower the better.

Aim for a mix of account types — for example, installment loans with regular payments, such as an auto loan, and revolving debt, such as credit cards .

Follow these steps and you’ll fatten up your credit reports in short order. You’ll also have built a credit score that gets you lower interest rates and access to better credit products — an unsecured credit card or one that offers rewards, for example.

Don’t focus too much on the numbers

You know what credit experts say about credit scores? Don’t get too hung up on the numbers. Your credit score gets recalculated on demand, whether it’s requested 10 minutes or 10 months after the last time somebody asked, and it accounts for the most recent additions to your credit reports.

Rod Griffin, director of public education at Experian, one of the three major credit bureaus, says that you should focus instead on your “general risk” category. Each lender can set its own parameters, but generally, the range for credit scores looks like this:

300-629: Bad credit .

630-689: Fair credit .

690-719: Good credit .

720 and up: Excellent credit .

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Definition of zero

(Entry 1 of 3)

Definition of zero (Entry 2 of 3)

Definition of zero (Entry 3 of 3)

transitive verb

intransitive verb

nought

Examples of zero in a Sentence

These examples are programmatically compiled from various online sources to illustrate current usage of the word 'zero.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.

Word History

French or Italian; French zéro , from Italian zero , from Medieval Latin zephirum , from Arabic ṣifr

1598, in the meaning defined at sense 1a

1821, in the meaning defined at sense 1a

1911, in the meaning defined at transitive sense 1

Phrases Containing zero

absolute zero
ground zero
patient zero
zero - base
zero - based
zero coupon
zero gravity
zero - sum game
zero tillage
zero tolerance
zero vector
zero - zero

Dictionary Entries Near zero

Cite this entry.

“Zero.” Merriam-Webster.com Dictionary , Merriam-Webster, https://www.merriam-webster.com/dictionary/zero. Accessed 20 May. 2024.

Kids Definition

Kids definition of zero.

Kids Definition of zero (Entry 2 of 3)

Kids Definition of zero (Entry 3 of 3)

Medical Definition

Medical definition of zero, more from merriam-webster on zero.

Nglish: Translation of zero for Spanish Speakers

Britannica English: Translation of zero for Arabic Speakers

Britannica.com: Encyclopedia article about zero

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April US CPI Report Shows Inflation Up 0.3%, Softer Than Expected

CPI comes in at a 3.4% annual rate for April, core CPI at a 3.6% annual rate.

The Bureau of Labor Statistics reported that the Consumer Price Index climbed 3.4% in April from year-ago levels—a tick down from March’s 3.5% rate. Core CPI, which excludes volatile food and energy costs, rose 3.6% over the last 12 months after rising 3.8% in March.

The CPI climbed 0.3% in April from month-ago levels after rising 0.4% in March. Core CPI also rose 0.3% after rising 0.4% in March. “The index for shelter rose in April, as did the index for gasoline. Combined, these two indexes contributed over 70% of the monthly increase in the index for all items,” the BLS reported.

The April CPI was forecast to show a 0.4% increase from the month before—the same reading in the March report. Meanwhile, core CPI was predicted to decline to 0.3% from 0.4% in March. On an annual basis, the April CPI was forecast to show the annual inflation rate at 3.4% in April from 3.5% in March. Core CPI year over year had been forecast to rise to 3.6% in April from 3.8% in March.

April CPI Report Key Stats

CPI rose 0.3% for the month after rising 0.4% in March.
Core CPI climbed 0.3% after increasing by 0.4% in March.
CPI climbed 3.4% year over year after increasing by 3.5% the prior month.
Core CPI climbed 3.6% from year-ago levels after growing 3.8% in March.

Consumer Price Index

Food prices stayed level in April after increasing 0.1% in March. Food-at-home prices declined 0.2%, while food-away-from-home (restaurant) prices increased 0.3%. Energy prices were mixed overall after growing 1.1% the prior month. Utility (piped) gas service prices fell 2.9%, fuel oil prices increased 0.9%, gasoline prices rose 2.8%, and electricity prices fell 0.1%. Shelter prices increased by 0.4% after rising the same amount in March.

CPI vs. Core CPI

This article was partially generated by Wordsmith, an automated smart-text platform, using data from the Bureau of Labor Statistics. It has been reviewed by Morningstar editors.

The author or authors do not own shares in any securities mentioned in this article. Find out about Morningstar’s editorial policies .

More in Economy

Softer April CPI Stops the Bleeding on Fed Rate Cut Hopes

Why We Expect Inflation to Fall in 2024

Forecasts for April CPI Report Show Continued Sticky Inflation

About the author, tom lauricella.

Tom Lauricella is chief markets editor for Morningstar.

Lauricella joined Morningstar in 2015 after a long career at The Wall Street Journal and Dow Jones. During his time as a reporter and editor, he covered a wide array of investing topics, including mutual funds, retirement planning, and global financial markets. While at the Journal, he won the prestigious Gerald Loeb award for his role in covering the May 2010 stock market “Flash Crash.”

Lauricella holds a bachelor’s degree from New York University, where he majored in journalism.

Job Gains Slow In April, but Too Soon to Say the Trend Has Changed

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Will the Antisemitism Awareness Act repress free speech in the US?

We discuss how broadening the definition of anti-Semitism could impact activists and Jewish communities.

While Israel’s war on Gaza continues, the United States Senate is expected to vote on the Antisemitism Awareness Act after it passed the House of Representatives this month with a large majority.

Rights groups warn that the bill’s use of the International Holocaust Remembrance Alliance’s definition will conflate criticism of Israel with anti-Semitism, which could stifle protests against Israel’s operations in the Palestinian territory.

So what could the legislation mean for the movement against Israel’s war on Gaza and to Jewish communities grappling with fear for their safety?

This week on UpFront , Marc Lamont Hill talks to contributing columnist at The Forward, Rabbi Jay Michaelson, and president of the Foundation for Middle East Peace, Lara Friedman, about efforts to expand anti-Semitism’s definition and the impact they could have.

Biden and Trump agree to CNN debate in June, ABC faceoff in September

President Biden announced earlier that he would not participate in the traditional televised showdowns organized by the Commission on Presidential Debates.

President Biden and former president Donald Trump agreed Wednesday to a June 27 debate on CNN and a Sept. 10 debate broadcast by ABC News, bypassing the decades-old tradition of three fall meetings organized by the bipartisan Commission on Presidential Debates.

The decisions by the major-party candidates to take control of the once independent debate planning process upended the timeline that has defined presidential contests for decades, adding unpredictability to an already close race. The two debates will happen much earlier than normal, which could decrease their impact on the election or awaken voters who have not yet tuned in.

Both candidates would be taking a chance by debating. If he stumbles or appears forgetful, Biden, 81, risks confirming some Americans’ suspicions that he is too old for the job. And Trump, just four years younger, has also faced doubts about his age. A face-to-face meeting could also remind Americans of Trump’s volatility and would give Biden the chance to describe the election as a choice between the two men, rather than a referendum on his record.

“Because of these questions about his capacities, Biden has a lot at stake,” said David Axelrod, former senior adviser to President Barack Obama. “But Trump has a lot at stake here too, because if Biden does pierce that narrative, it could change the dynamic of the race.”

The terms of the first debate remained a work in progress late Wednesday. The CNN debate in Atlanta, moderated by anchors Jake Tapper and Dana Bash, will be conducted without a live audience. It will be open to any presidential candidate who gets 15 percent in four separate approved national polls between March 15 and June 20; who gets on enough ballots to have a path to winning a majority of the votes in the electoral college; and who agrees to the debate rules. ABC News said late Wednesday that its debate would use similar criteria and would be moderated by anchors David Muir and Linsey Davis.

The networks’ proposed rules open a possible path for independent candidate Robert F. Kennedy Jr. to make the stage. But Biden advisers said that they had told CNN the president would only participate in debates that were one-on-one with Trump and that they did not agree to another debate Trump suggested, on Fox News in October.

“President Biden made his terms clear for two one-on-one debates, and Donald Trump accepted those terms,” campaign chair Jen O’Malley Dillon said in a statement. “No more games. No more chaos, no more debate about debates.”

A Trump campaign official said a CNN producer had given assurances in a call Wednesday morning that “RFK will not be on the stage,” after describing the criteria for the event.

But aides to Kennedy, who has at least two qualifying polls, said he would be on track to get enough ballot access by June 20 if they speed up their timeline for turning in signatures. Richard Winger, editor of Ballot Access News, agreed that there was a clear path for Kennedy to win ballot access in enough states before that date.

“We’re thrilled Presidents Biden and Trump have finally agreed to a debate!” Kennedy campaign manager Amaryllis Fox Kennedy said in a statement. “We anticipate Mr. Kennedy fulfilling all participation criteria by June 20th and look forward to offering American voters the three-way debate they deserve.”

Frank Fahrenkopf Jr., co-chair of the Commission on Presidential Debates, said his organization was founded to avoid this type of confusion. The commission requires a higher standard than the one adopted by the networks.

“One of the reasons we were created is campaigns could never agree on the most important things,” Fahrenkopf said. “If they can do it, more power to them. We’d rather have them go with us.”

The public agreement by the Trump and Biden campaigns followed informal back-channel discussions in recent weeks, according to two people familiar with the interactions who spoke on the condition of anonymity to discuss private talks. The two camps discussed debates that would not involve the commission.

Both sides had grown increasingly frustrated with the commission, people with knowledge of the situation said, and Trump has been publicly and privately clamoring to debate Biden.

“I am Ready and Willing to Debate Crooked Joe at the two proposed times,” Trump wrote on Wednesday on Truth Social. “I would strongly recommend more than two debates and, for excitement purposes, a very large venue, although Biden is supposedly afraid of crowds.”

2024 presidential election

The Biden proposal, outlined in a video message and letter to the commission Wednesday morning, called for direct negotiations between the Trump and Biden campaigns over the rules, moderators and network hosts for the one-on-one encounters. Biden proposed a separate vice-presidential debate in July, after the Republican nominating convention and before the Democratic nominating convention.

“Donald Trump lost two debates to me in 2020, and since then he hasn’t shown up for a debate. Now he is acting like he wants to debate me again. Well, make my day, pal. I’ll even do it twice,” Biden said in the video released Wednesday that referenced the weekly break in Trump’s New York criminal trial . “So let’s pick the dates, Donald. I hear you’re free on Wednesdays.”

The first debate on CNN will fall on a Thursday, after the expected conclusion of Trump’s New York trial.

O’Malley Dillon cited the commission’s proposed schedule and past struggles to keep candidates from violating the debate rules in the letter explaining the decision.

“The Commission’s model of building huge spectacles with large audiences at great expense simply isn’t necessary or conducive to good debates,” she wrote. “The debates should be conducted for the benefit of the American voters, watching on television and at home — not as entertainment for an in-person audience with raucous or disruptive partisans and donors, who consume valuable debate time with noisy spectacles of approval or jeering.”

Biden proposed that the moderator should be selected by the broadcast host from its “regular personnel,” with firm time limits for answers, equal speaking time, alternative turns to speak and microphones that are active only during each candidate’s turn.

“The real story here is that Joe Biden is so weak and infirm he will only commit to two debates when we should be doing much more,” Trump campaign senior adviser Chris LaCivita said in a statement.

“Trump walked himself into a corner by saying ‘anytime and anywhere,’” Axelrod said. “They got exactly the conditions you want if you are Biden. You get a studio, not a Roman colosseum — and early. The history of these things is you always want them early because if they don’t go well, you can recover from them.”

Trump and the Republican National Committee had previously expressed interest in bypassing the commission, which has convened presidential debates since the 1988 election. The commission has already scheduled one vice-presidential and three presidential debates, starting Sept. 16 with a presidential candidate meeting in Texas that would have been simultaneously broadcast by major broadcast and cable news networks.

The commission said it would continue to plan for four debates this fall, including the vice-presidential candidate meeting. “Our 2024 sites, all locations of higher learning, are prepared to host debates on dates chosen to accommodate early voters,” the group said in a statement Wednesday.

The organization began sponsoring presidential debates after the two major-party presidential campaigns in 1984 struggled to agree on terms.

Televised debates starting in 1960 were held in the final months of the campaign, after the candidates had been formally nominated to lead their parties. But the early debates had also been inconsistent events, subject to significant disputes between the candidates. Republican Richard M. Nixon and Democrat John F. Kennedy were the first to meet in a televised presidential debate, during the 1960 election campaign. The next major-party presidential debate took place in 1976, followed by debates in 1980 and 1984.

The commission sought to standardize the practice as a neutral arbiter, creating a candidate qualification standard of at least 15 percent in national polling and a ballot access requirement that provided a path to victory in the electoral college. The commission also picked the locations, moderators and formats, eventually setting a pattern of three fall presidential candidate debates, including one town hall-style event, and one vice-presidential candidate debate.

That system has met bipartisan resistance in recent years. Biden’s advisers were furious about the commission’s failure to enforce agreed-upon masking and coronavirus testing requirements at the first debate in 2020. Three former aides later said Trump had tested positive for the virus days before that meeting with Biden, though he only made his condition public afterward. Biden’s aides also objected to the debate commission’s failure to contain Trump’s outbursts during the first meeting.

“Everyone was upset in the first debate when the delegation of Trump family and their supporters sat down, they took off the masks. When members of the Cleveland Clinic gave them masks, they wouldn’t put them on. What were we supposed to do? Shut down the debate?” Fahrenkopf said.

The Republican National Committee announced in 2022 that the party would leave the commission’s debate system altogether, calling the body “biased” because it started the 2020 debates after voting had begun, its board members had criticized Trump, and it had failed to consult the campaign on some format issues. The RNC also objected to the commission’s 2020 decision to hire a debate moderator, C-SPAN anchor Steve Scully, who had briefly interned during college in Biden’s Senate office in 1978.

Two top Trump campaign advisers, LaCivita and Susie Wiles, announced last month that the timing of the commission’s first debate was “unacceptable.”

Fahrenkopf, a former chairman of the Republican National Committee, was optimistic as late as Tuesday that his organization’s system would endure. He said the commission’s debates could not be scheduled until after Sept. 6, the last date when states determine which candidates appear on their November ballots, since ballot access is a condition of debate eligibility under the commission’s rules.

Fahrenkopf said he was taken by surprise by Biden’s letter and had not discussed it privately with O’Malley Dillon or any of the president’s top aides. He also said he had not discussed debates with Trump’s campaign, instead waiting for both to be officially nominated.

“We’ll have to see,” Fahrenkopf said, when asked about the future of the commission, adding that he expected to leave the group after 2024 regardless.

Scott Clement and Emily Guskin contributed to this report.

Election 2024

Get the latest news on the 2024 election from our reporters on the campaign trail and in Washington.

Who is running? President Biden and Donald Trump secured their parties’ nominations for the presidency . Here’s how we ended up with a Trump-Biden rematch again.

Key dates and events: From January to June, voters in all states and U.S. territories will pick their party’s nominee for president ahead of the summer conventions. Here are key dates and events on the 2024 election calendar .

Abortion and the election: Voters in about a dozen states could decide the fate of abortion rights with constitutional amendments on the ballot in a pivotal election year. Biden supports legal access to abortion , and he has encouraged Congress to pass a law that would codify abortion rights nationwide. After months of mixed signals about his position, Trump said the issue should be left to states . Here’s how Biden’s and Trump’s abortion stances have shifted over the years.

OpenAI debuts GPT-4o ‘omni’ model now powering ChatGPT

OpenAI announced a new flagship generative AI model on Monday that they call GPT-4o — the “o” stands for “omni,” referring to the model’s ability to handle text, speech, and video. GPT-4o is set to roll out “iteratively” across the company’s developer and consumer-facing products over the next few weeks.

OpenAI CTO Mira Murati said that GPT-4o provides “GPT-4-level” intelligence but improves on GPT-4’s capabilities across multiple modalities and media.

“GPT-4o reasons across voice, text and vision,” Murati said during a streamed presentation at OpenAI’s offices in San Francisco on Monday. “And this is incredibly important, because we’re looking at the future of interaction between ourselves and machines.”

GPT-4 Turbo , OpenAI’s previous “leading “most advanced” model, was trained on a combination of images and text and could analyze images and text to accomplish tasks like extracting text from images or even describing the content of those images. But GPT-4o adds speech to the mix.

What does this enable? A variety of things.

GPT-4o greatly improves the experience in OpenAI’s AI-powered chatbot, ChatGPT . The platform has long offered a voice mode that transcribes the chatbot’s responses using a text-to-speech model, but GPT-4o supercharges this, allowing users to interact with ChatGPT more like an assistant.

For example, users can ask the GPT-4o-powered ChatGPT a question and interrupt ChatGPT while it’s answering. The model delivers “real-time” responsiveness, OpenAI says, and can even pick up on nuances in a user’s voice, in response generating voices in “a range of different emotive styles” (including singing).

GPT-4o also upgrades ChatGPT’s vision capabilities. Given a photo — or a desktop screen — ChatGPT can now quickly answer related questions, from topics ranging from “What’s going on in this software code?” to “What brand of shirt is this person wearing?”

These features will evolve further in the future, Murati says. While today GPT-4o can look at a picture of a menu in a different language and translate it, in the future, the model could allow ChatGPT to, for instance, “watch” a live sports game and explain the rules to you.

“We know that these models are getting more and more complex, but we want the experience of interaction to actually become more natural, easy, and for you not to focus on the UI at all, but just focus on the collaboration with ChatGPT,” Murati said. “For the past couple of years, we’ve been very focused on improving the intelligence of these models … But this is the first time that we are really making a huge step forward when it comes to the ease of use.”

GPT-4o is more multilingual as well, OpenAI claims, with enhanced performance in around 50 languages. And in OpenAI’s API and Microsoft’s Azure OpenAI Service , GPT-4o is twice as fast as, half the price of and has higher rate limits than GPT-4 Turbo, the company says.

At present, voice isn’t a part of the GPT-4o API for all customers. OpenAI, citing the risk of misuse, says that it plans to first launch support for GPT-4o’s new audio capabilities to “a small group of trusted partners” in the coming weeks.

GPT-4o is available in the free tier of ChatGPT starting today and to subscribers to OpenAI’s premium ChatGPT Plus and Team plans with “5x higher” message limits. (OpenAI notes that ChatGPT will automatically switch to GPT-3.5 , an older and less capable model, when users hit the rate limit.) The improved ChatGPT voice experience underpinned by GPT-4o will arrive in alpha for Plus users in the next month or so, alongside enterprise-focused options .

In related news, OpenAI announced that it’s releasing a refreshed ChatGPT UI on the web with a new, “more conversational” home screen and message layout, and a desktop version of ChatGPT for macOS that lets users ask questions via a keyboard shortcut or take and discuss screenshots. ChatGPT Plus users will get access to the app first, starting today, and a Windows version will arrive later in the year.

Elsewhere, the GPT Store , OpenAI’s library of and creation tools for third-party chatbots built on its AI models, is now available to users of ChatGPT’s free tier. And free users can take advantage of ChatGPT features that were formerly paywalled, like a memory capability that allows ChatGPT to “remember” preferences for future interactions, upload files and photos, and search the web for answers to timely questions.

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Zero-based budgeting (ZBB) is like solving a financial puzzle. Instead of relying on the previous year’s budget, ZBB requires you to evaluate and justify every expense from the ground up, justifying its necessity and alignment with strategic goals.

It’s like starting with a blank canvas and carefully selecting each budget item based on its value and contribution to your financial objectives. This approach ensures that every piece of your budget fits together harmoniously to create a clear and purposeful financial picture. In this blog post, we will delve into the concept of zero-based budgeting, exploring its definition, advantages, disadvantages, implementation steps and tools needed.

The zero-based budgeting process is a strategic budgeting approach that mandates a fresh evaluation of all expenses during each budgeting cycle. Unlike traditional budgeting, where previous spending levels are typically adjusted, ZBB requires individuals or organizations to justify every expense from the ground up. The aim is to optimize resource allocation by ensuring funds are allocated to activities that align with strategic objectives and generate the highest value.

Peter Pyhrr, an accountant and consultant, is credited with developing the concept of zero-based budgeting (ZBB) in the 1970s. Pyhrr recognized the limitations of traditional methods of budgeting that relied on incremental adjustments to previous budgets. He believed that organizations needed a more rigorous approach to budgeting that would ensure resources were allocated efficiently and aligned with strategic objectives.

Pyhrr introduced the idea of starting the budgeting process from a “zero base,” meaning that every expense had to be justified from scratch. This approach challenged the assumption that previous spending levels were automatically justified, requiring individuals and departments to provide a detailed rationale for each expenditure.

By requiring a fresh evaluation of all expenses, Pyhrr aimed to eliminate unnecessary costs, identify inefficiencies, and promote a more focused use of resources. His goal was to instill a sense of accountability and ownership among budget holders, encouraging them to critically analyze and justify their budget requests.

Zero-based budgeting offers several advantages for both businesses and individuals. Some key benefits include:

Cost savings: ZBB requires a thorough evaluation of all expenses, challenging the assumption that last year's spending levels are justified. By scrutinizing each line-item expense from scratch, ZBB helps identify unnecessary or redundant costs, preventing overspending. This process allows for cost-cutting and setting savings goals, leading to lower costs and improved financial efficiency.
Enhanced efficiency: ZBB encourages resource reallocation towards high-impact activities. By evaluating expenses based on their value and alignment with strategic objectives, ZBB ensures that resources are allocated to areas that generate the highest return on investment. It promotes a more focused and effective cost management.
Increased accountability: With ZBB, individuals or departments must justify their budget requests and align them with organizational financial goals. This fosters a culture of accountability, as each expense must demonstrate its purpose and value. ZBB creates a sense of ownership and responsibility among budget holders.
Flexibility and adaptability: Traditional budgeting systems often rely on historical data and incremental adjustments. ZBB, however, is not bound by past spending patterns. It allows for better adaptation to changing circumstances, emerging priorities and new opportunities. ZBB promotes agility in resource allocation, enabling organizations to respond effectively to evolving market conditions.
Cost-conscious culture: ZBB can foster a cost-conscious culture within an organization. By instilling a mindset of questioning and justifying expenses, ZBB encourages employees to think critically about costs and seek more efficient alternatives to cut back. This culture of cost-consciousness can lead to continuous improvement and a focus on value creation.
Improved decision-making: ZBB provides a comprehensive view of expenses and their impact on organizational goals. By evaluating each expense category, decision-makers gain better visibility into the cost structure of the organization. This enables informed decision-making, as leaders have a clearer understanding of the trade-offs involved and can make strategic choices based on reliable data.

Implementing zero-based budgeting (ZBB) in an organization involves careful planning and execution. Here are the key steps to follow:

Identify objectives: Clearly define the organization’s goals and strategic direction to establish the foundation for the budgeting process. Ensure that budget allocations align with these objectives and prioritize them accordingly.
Evaluate expenses: Review each expense category, including recurring expenses such as subscriptions, and question their necessity and relevance. Scrutinize both fixed expenses like rent and utilities and variable expenses such as marketing and travel. Identify areas where costs can be optimized and potential savings can be made.
Build budgets: Create new budgets from scratch, ensuring that each item serves a clear purpose and directly supports the organization’s strategic goals. Consider the importance of each expense category, allocating resources accordingly to maximize their impact. Set up an emergency fund to ensure sufficient funds are available for unforeseen circumstances.
Prioritize resources: Allocate resources based on their importance and their contribution to the organization’s objectives. Prioritize high-value activities and projects that align with strategic goals. Take budget constraints into account and make informed decisions on resource allocation.
Monitor and review: Regularly monitor the budget implementation, track expenses and assess performance against objectives. Keep a close eye on spending and make adjustments as necessary to maintain alignment with the organization’s goals. This ongoing monitoring and review process ensures that the budget remains effective and adaptable to changing circumstances.

By following these steps, organizations can successfully implement zero-based budgeting, optimize their resource allocation and achieve greater financial efficiency while aligning with their strategic objectives.

While zero-based budgeting can be a powerful tool for organizations, there are several important considerations and potential challenges to be aware of:

Time and effort: Implementing zero-based budgeting can be a time-consuming process, especially short-term during the initial stages. It requires a significant investment of effort to thoroughly evaluate and justify every expense from scratch. Adequate planning, data collection and stakeholder involvement are crucial for a successful implementation.
Change management: Adopting a new budgeting method like zero-based budgeting often requires a shift in organizational culture and mindset. Employees may need to adjust to a more rigorous and detailed approach to budgeting, which can lead to resistance or discomfort. Change management practices, such as communication, training and engagement, are important to facilitate a smooth transition and ensure widespread adoption.
Complexity: Zero-based budgeting can be more complex than traditional budgeting, especially for large organizations or individuals with diverse financial obligations. The process requires meticulous documentation and tracking systems to ensure accurate evaluation, allocation and monitoring of expenses. Managing the complexity of ZBB may require additional resources, expertise and technology to support the budgeting process effectively.
Resource allocation challenges: Zero-based budgeting may pose challenges in resource allocation, particularly when dealing with competing priorities and limited resources. The thorough evaluation of expenses from scratch can sometimes lead to difficult decisions and trade-offs between different activities, projects or departments. Balancing strategic objectives, budget constraints and the need for cost optimization requires careful consideration and decision-making.
Initial disruption: Implementing zero-based budgeting may cause initial disruption within the organization as existing budgeting practices and processes are replaced or modified. This disruption can impact the workflow, roles and responsibilities of individuals involved in the budgeting process. Adequate communication, training and support are essential to minimize disruption and ensure a smooth transition.

By understanding and addressing these potential challenges, organizations can better prepare themselves for the implementation of zero-based budgeting and mitigate any potential negative impacts on the budgeting process and organizational dynamics.

Spreadsheets: Traditional spreadsheet applications like Microsoft Excel or Google Sheets can be used to create and manage zero-based budgets. They provide flexibility in organizing budget data, performing calculations and generating reports. Spreadsheets allow for customization and can be a cost-effective option for smaller organizations.
Financial planning and analysis (FP&A) software: They offer dedicated features for budgeting, forecasting and financial analysis. These tools provide a centralized platform for top-down and bottom-up budgeting creation, collaboration, scenario modeling, data integration and reporting. They often come with advanced analytics capabilities, enabling organizations to make data-driven budgeting decisions.
Enterprise resource planning (ERP) Systems: ERP systems integrate various financial processes, including budgeting. These systems offer modules specifically designed for budget creation, tracking and reporting. They provide a comprehensive view of financial data, facilitate data integration and support collaboration among different departments.
Budgeting and planning software: Dedicated budgeting and planning software are designed to streamline the budgeting process. These tools provide features like budget templates, workflow automation, data consolidation, scenario modeling and reporting. They often offer user-friendly interfaces and enable collaboration among budget stakeholders.
Data visualization tools: Data visualization tools enable organizations to visualize budget data and financial insights. These tools create interactive charts, graphs and dashboards that enhance the understanding and communication of budget information. Data visualization tools can help identify trends, patterns and anomalies in the budgeting process.
Project ,anagement software: Project management tools like Asana, Trello or Jira can be utilized to track budgeting tasks, deadlines and milestones. These tools help manage the workflow, assign responsibilities and ensure accountability during the budgeting process. They enhance collaboration and provide transparency into the progress of budget-related activities.

IBM Planning Analytics is an integrated business planning and analysis solution that can greatly assist with zero-based budgeting (ZBB) initiatives. Here’s how IBM Planning Analytics stands out and provides value in implementing ZBB:

Advanced functionality: IBM Planning Analytics provides robust features specifically designed to support ZBB, such as data collection, analysis, scenario modeling and budgeting capabilities. It also offers integration with spreadsheets, allowing organizations to leverage existing spreadsheet data and seamlessly transition to a more sophisticated budgeting solution.
Collaborative environment: IBM Planning Analytics fosters collaboration among stakeholders involved in the budgeting process. It allows teams to evaluate expenses, allocate resources and justify budget requests based on strategic objectives. This collaborative environment enhances transparency and accountability and ensures that budget decisions align with organizational goals.
AI-infused capabilities: IBM Planning Analytics utilizes artificial intelligence (AI) and machine learning capabilities to provide advanced analytics and forecasting. These AI-infused features help organizations gain deeper insights into their budget data, identify trends and make more accurate predictions, enabling them to make data-driven budgeting decisions.
Integration capabilities: IBM Planning Analytics integrates seamlessly with other systems and data sources, such as accounting platforms or ERP systems. This integration ensures the availability of accurate financial data for budgeting decisions, eliminating the need for manual data entry and reducing errors.
Scalability and flexibility: IBM Planning Analytics is highly scalable and suitable for organizations of all sizes. It can adapt to changing business needs and accommodate complex budgeting requirements. Whether it’s a small organization or a large enterprise, IBM Planning Analytics can effectively support the ZBB process.
User-friendly interface: IBM Planning Analytics offers a user-friendly interface that simplifies the budgeting process. Its intuitive design and interactive dashboards allow users to navigate through budget data, perform analyses and generate reports with ease.

While there are other tools available for zero-based budgeting, IBM Planning Analytics stands out due to its powerful and flexible platform that allows for comprehensive functionality, AI-infused capabilities and user-friendly interfaces. These factors make IBM Planning Analytics a preferred choice for organizations seeking to implement ZBB effectively and achieve cost optimization and accountability throughout the budgeting cycle.

Zero-based budgeting is an innovative type of budgeting that challenges conventional financial practices. By reevaluating expenses from scratch and aligning them with strategic objectives, ZBB promotes cost optimization, efficiency, and accountability. While implementing ZBB requires significant effort and change management, the benefits of this approach can outweigh the challenges.

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Corporate Finance

Zero-Based Budgeting: What It Is and How to Use It

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia.

What Is Zero-Based Budgeting (ZBB)?

Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. The process of zero-based budgeting starts from a "zero base," and every function within an organization is analyzed for its needs and costs. The budgets are then built around what is needed for the upcoming period, regardless of whether each budget is higher or lower than the previous one.

Key Takeaways

Zero-based budgeting is a technique used by companies, but this type of budgeting can be used by individuals and families.
Budgets are created around the monetary needs for each upcoming period, like a month or a year.
Traditional budgeting and zero-based budgeting are two methods used to track expenditures.
Zero-based budgeting helps managers lower costs for a company.

Investopedia / Mira Norian

How Zero-Based Budgeting (ZBB) Works

In business, ZBB allows top-level strategic goals to be implemented into the budgeting process by tying them to specific functional areas of the organization, where costs can be first grouped and then measured against previous results and current expectations.

Because of its detail-oriented nature, zero-based budgeting may be a rolling process done over several years, with a few functional areas reviewed at a time by managers or group leaders. Zero-based budgeting can help lower costs by avoiding blanket increases or decreases to a prior period's budget. It is, however, a time-consuming process that takes much longer than traditional, cost-based budgeting.

The practice also favors areas that achieve direct revenues or production, as their contributions are more easily justifiable than in departments such as client service and research and development .

Zero-based budgeting, primarily used in business, can be used by individuals and families, too.

Zero-Based Budgeting vs. Traditional Budgeting

Traditional budgeting calls for incremental increases over previous budgets, such as a 2% increase in spending, as opposed to a justification of both old and new expenses, as called for with zero-based budgeting.

Traditional budgeting also only analyzes only new expenditures, while ZBB starts from zero and calls for a justification of old, recurring expenses in addition to new expenditures. Zero-based budgeting aims to put the onus on managers to justify expenses and aims to drive value for an organization by optimizing costs and not just revenue.

Example of Zero-Based Budgeting

Suppose a construction equipment company implements a zero-based budgeting process calling for closer scrutiny of manufacturing department expenses. The company notices that the cost of certain parts used in its final products and outsourced to another manufacturer increases by 5% every year. The company can make those parts in-house using its workers. After weighing the positives and negatives of in-house manufacturing, the company finds it can make the parts more cheaply than the outside supplier.

Instead of blindly increasing the budget by a certain percentage and masking the cost increase, the company can identify a situation in which it can decide to make the part itself or buy the part from the external supplier for its end products.

Traditional budgeting may not allow cost drivers within departments to be identified. Zero-based budgeting is a more granular process that aims to identify and justify expenditures. However, zero-based budgeting is also more involved, so the costs of the process itself must be weighed against the savings it may identify.

What Is Zero-Based Budgeting?

Zero-based budgeting originated in the late 1960s by former Texas Instruments account manager Peter Pyhrr. Unlike traditional budgeting, zero-based budgeting starts at zero, justifying each individual expense for a reporting period. Zero-based budgeting starts from scratch, analyzing each granular need of the company, instead of incremental budgeting increases found in traditional budgeting, Essentially, this allows for a strategic, top-down approach to analyze the performance of a given project.

What Are the Advantages of Zero-Based Budgeting?

As an accounting practice, zero-based budgeting offers a number of advantages including focused operations, lower costs, budget flexibility, and strategic execution. When managers think about how each dollar is spent, the highest revenue-generating operations come into greater focus. Meanwhile, lowered costs may result as zero-based budgeting may prevent the misallocation of resources that may happen over time when a budget grows incrementally.

What Are the Disadvantages of Zero-Based Budgeting?

Zero-based budgeting has a number of disadvantages. First, it is timely and resource-intensive. Because a new budget is developed each period, the time cost involved may not be worthwhile. Instead, using a modified budget template may prove more beneficial. Second, it may reward short-term perspectives in the company by allocating more resources to operations with the highest revenues. In turn, areas such as research and development, or those that have a long-term horizon, may get overlooked.

Florida International University. " Zero-Based Budgeting ." Page 5.

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Crystal Palace 5 Aston Villa 0 - Report

Depleted Villa finished their season on a low note as they were hammered at Crystal Palace.

Unai Emery’s team, who had already secured qualification for next season’s Champions League, suffered their heaviest Premier League defeat for four years at Selhurst Park.

Jean-Philippe Mateta scored a hat-trick for the hosts, while Eberechi Eze netted a second half brace.

Moussa Diaby came closest to scoring for the visitors, while Ollie Watkins was thwarted in his efforts to score a 20th Premier League goal of the season.

The England international remained stranded on 19 with Peter Withe still the last Villa player to his 20 in a top flight campaign.

Watkins miscued a header with his one real chance of a frustrating match, with Villa going on to suffer their heaviest defeat since a 6-1 home reverse to Manchester City in January, 2020.

This thrashing will sting far less thanks to what has been achieved this season, while Emery can also point to a squad so stretched by injury he was forced to name his son Lander, a goalkeeper at the club’s academy, on the bench.

Emi Martinez, Leon Bailey, Matty Cash and Youri Tielemans were all missing from the squad.

The last day of school feel to occasion was further summed up by the presence of Clement Lenglet and Calum Chambers, the latter making his first Premier League start since February last year, in the visiting line-up.

Lander Emery was one of two shot-stoppers among the eight substitutes with Robin Olsen replacing the absent Martinez in goal.

Leon Bailey, who had been playing through the pain of a knee injury in recent weeks, was also among the missing.

Villa actually had the first sniff of goal when Lucas Digne swung in a free-kick and Ollie Watkins could not quite make the necessary connection with a header.

But the first time the hosts exerted any pressure, they scored. Olise had the option of picking between Eze and Mateta, chose the latter and the striker, running off the shoulder of Lenglet, finished beyond Olsen and into the bottom corner.

It was hardly all one-way traffic. Diaby was denied an equaliser twice in quick succession by Dean Henderson, first when the goalkeeper dived to his right to save after the Villa forward had been sent clear by Douglas Luiz.

Nathaniel Clyne beat Watkins to the rebound and from the corner, Diaby drove a volley into the ground which Henderson again pushed behind. From the next corner, Watkins got a free header all wrong as Villa again fluffed their lines.

Palace were more clinical, though they were aided by some rather charitable defending. Neither Lenglet nor Diego Carlos appeared particularly bothered about picking up Mateta as he jogged into the box to convert Daniel Munoz’s low cross just before half-time.

Olsen twice denied Olise at close range as the home side threatened to further extend their advantage before the interval.

It merely delayed the pain for Villa as within nine minutes of the restart, Eze netted the third. Chris Richards’ attempted pass down the touchline flicked off Diaby and into the England international’s path. No Villa defender attempted to close him down before he rifled a finish inside the near post.

Another nine minutes later, it was four, Palace breaking swiftly upfield and Eze teeing up Mateta for his treble.

The latter had an effort chalked off for the most marginal of offside’s before Eze grabbed his second of the match and Palace’s fifth, exchanging passes with Mateta before thumping home.

9 GOAL Jean-Philippe Mateta opens the scoring, firing home from Michael Olise’s pass.

39 GOAL Mateta makes it two, turning home Daniel Munoz’s low cross.

54 GOAL Eberechi Eze gets Palace’s third, firing home from outside the box.

63 GOAL Mateta has his hat-trick, firing home after being set up by Eze.

69 GOAL It is five for Palace and two for Eze, the finish again from outside the box.

Villa (4-4-2): Olsen, Konsa, Carlos, Lenglet, Digne, McGinn (Munroe 87), Luiz, Chambers (Iroegbunam 68), Diaby (Kesler-Hayden 87), Duran, Watkins (Kellyman 68) Subs not used: Torres, Young, Emery (gk), Gauci (gk).

Palace (4-3-3): Henderson, Clyne, Andersen, Guehi (Lerma 76), Munoz, Wharton (Riedewald 87), Richards, Mitchell, Olise, Eze, Mateta (Edouard 76) Subs not used: Ward, Tomkins, Ayew, Schlupp, Ozoh, Matthews (gk).

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Why is the Turnitin Similarity Report score 0%?

23-jul-2020 • knowledge article, information.

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What Is A Zero Report?
Zero-Based Budgeting: What It Is and How to Use It
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Zero report
A term used in surveillance systems to designate an unequivocal report that no cases of a designated disease of interest occurred during the reporting period. When correctly implemented, zero reporting is important and valuable because it eliminates the possibility that the report was simply not completed or sent. From: zero report in A ...
PDF National Incident-Based Reporting System
Program personnel (i.e., administrators, training instructors, report analysts, coders, data entry clerks, etc.) who are responsible for collecting and recording NIBRS crime data for submission to the FBI. It contains a system overview and descriptions of the offenses, offense codes, reports, data elements, and data values used in the system.
Zero report Definition
Zero report means an electronic data submission reflecting no dispensing activity for a given period. Sample 1. Based on 1 documents. Define Zero report. means a report of unclaimed property that has a zero value due to the reporting entity having no unclaimed property for the reporting period.
Zero incidents: Achieving a new safety culture
The following are some important steps that can be used to foster a change in a company safety culture toward zero incidents. 1 Define and communicate the need for change. This step must come from top management. Management must communicate with employees and explain why the change has to occur.
Zero reporting
Zero reporting. Tags. Glossary. Reporting of the absence of cases of a disease under surveillance; this is crucial for. syndromic surveillance and ensures that participants have not merely forgotten to. report.
MN PMP Requires Daily Reporting Including Zero Reporting / Minnesota
If no controlled substance (II---V, butalbital, gabapentin) prescriptions are dispensed on any particular day, a "zero report" is required to be submitted for that day. If the pharmacy is closed for business, and is unable to automate zero reporting it is permissible to report a zero report on the following business day. If there are two consecutive zero reporting days (closed for business ...
The net-zero transition: Its cost and benefits
The transformation of the global economy needed to achieve net-zero emissions by 2050 would be universal and significant, requiring $9.2 trillion in annual average spending on physical assets, $3.5 trillion more than today. To put it in comparable terms, that increase is equivalent to half of global corporate profits and one-quarter of total ...
The meaning of net zero and how to get it right
The concept of net-zero carbon emissions has emerged from physical climate science. However, it is operationalized through social, political and economic systems. We identify seven attributes of ...
Net Zero by 2050
The number of countries announcing pledges to achieve net zero emissions over the coming decades continues to grow. But the pledges by governments to date - even if fully achieved - fall well short of what is required to bring global energy-related carbon dioxide emissions to net zero by 2050 and give the world an even chance of limiting the global temperature rise to 1.5 °C.
ISO
A definition of net zero and related concepts (national, regional and organizational) How this definition should be incorporated into initiatives, strategies and policies at all levels The basis for accountability mechanisms and measurements, such as development of consistent indicators enabling reporting and communication
No Tax Due Report
Select Yes when the entity's total annualized revenue is less than or equal to the no tax due threshold. The no tax due threshold is as follows: $1,230,000 for reports due in 2022-2023. $1,180,000 for reports due in 2020-2021. $1,130,000 for reports due in 2018-2019. $1,110,000 for reports due in 2016-2017. $1,080,000 for reports due in 2014 ...
The Zero-Dose Child: Explained
The Zero-Dose Child: Explained. Despite decades of progress increasing access to immunisation in lower-income countries, at least 12.4 million children still go without basic, routine vaccines every year. Gavi, the Vaccine Alliance is now focusing on reaching these zero-dose children. Twenty years ago, the global effort to ensure every child ...
Universal Definition and Standardisation of Net Zero released by the
The Net Zero Report defines 'net zero' as a state by which the greenhouse gases (GHG) going into the atmosphere are reduced as close to zero as possible and any residual emissions are balanced by permanent removals from the atmosphere by 2050. 1 The principles and recommendations aim to guide the future of the net zero process and the role ...
The What, When, and How of Net-Zero Emissions
2. When Does the World Need to Reach Net-Zero Emissions? Under the Paris Agreement, countries agreed to limit warming to well below 2 degrees C (3.6 degrees F), ideally to 1.5 degrees C (2.7 degrees F). Global climate impacts that are already unfolding under the current 1.1 degrees C (1.98 degrees F) of warming — from melting ice to devastating heat waves and more intense storms — show the ...
What is net zero? The carbon emissions challenge
A net-zero gain of GHG in the atmosphere is achieved when the level of GHG emissions released into the atmosphere is equal to the amount removed. This is also referred to as carbon neutrality. CO 2 is a gas found in the Earth's atmosphere—and it's part of the planet's air, along with nitrogen, oxygen, methane, and other gases.
South Pole's 2023/2024 net zero report
Download your free report now to find out about the latest trends, and what they mean for your business. South Pole's Net Zero Report 2023/2024. ... South Pole's 2022 net zero report took a closer look at over 1,200 private companies to get an indication of how some of the more climate-aware companies in the market are progressing (or not) on ...
zero report
ted2019. Zero reported border incidents and no illegal presence of troops following the withdrawal and transfers of authority. UN-2. Zero reported incidents of intercommunal violence during migration. UN-2. Zero reported border incursions. UN-2. German. Learn the definition of 'zero report'.
What does net-zero emissions mean and how can we get there?
Put simply, the term net zero applies to a situation where global greenhouse gas emissions from human activity are in balance with emissions reductions. At net zero, carbon dioxide emissions are still generated, but an equal amount of carbon dioxide is removed from the atmosphere as is released into it, resulting in zero increase in net ...
0
0 (zero) is a number representing an empty quantity.Adding 0 to any number leaves that number unchanged. In mathematical terminology, 0 is the additive identity of the integers, rational numbers, real numbers, and complex numbers, as well as other algebraic structures.Multiplying any number by 0 has the result 0, and consequently, division by zero has no meaning in arithmetic.
No Credit Score Doesn't Mean a Zero Credit Score
No one has a credit score of zero, no matter how badly they have mishandled credit in the past. The most widely used credit scores, FICO and VantageScore, are on a range from 300 to 850. As of ...
Zero Definition & Meaning
zero: [noun] the arithmetical symbol 0 or 0̸ denoting the absence of all magnitude or quantity. a value of an independent variable that makes a function equal to zero.
April US CPI Report Shows Inflation Up 0.3%, Softer Than Expected
The April CPI was forecast to show a 0.4% increase from the month before—the same reading in the March report. Meanwhile, core CPI was predicted to decline to 0.3% from 0.4% in March.
Will the Antisemitism Awareness Act repress free speech in the US
Rights groups warn that the bill's use of the International Holocaust Remembrance Alliance's definition will conflate criticism of Israel with anti-Semitism, which could stifle protests ...
Biden and Trump agree to CNN debate in June, ABC faceoff in September
10 min. President Biden and former president Donald Trump agreed Wednesday to a June 27 debate on CNN and a Sept. 10 debate broadcast by ABC News, bypassing the decades-old tradition of three fall ...
OpenAI debuts GPT-4o 'omni' model now powering ChatGPT
OpenAI announced a new flagship generative AI model on Monday that they call GPT-4o — the "o" stands for "omni," referring to the model's ability to handle text, speech, and video.
Data: NYPD Enforcement, Now in Decline, Was Once a Key to Vision Zero
The NYPD is no "Vision Zero partner." The city's road safety initiative launch in 2014 led to pronounced reductions in traffic injuries in New York City compared to its suburbs — a decrease that was most pronounced in communities of color — but the safety trend switched dramatically during the Covid-19 pandemic in part due to a massive decline in NYPD traffic enforcement, a new study reveals.
What is zero-based budgeting?
Zero-based budgeting is an innovative type of budgeting that challenges conventional financial practices. By reevaluating expenses from scratch and aligning them with strategic objectives, ZBB promotes cost optimization, efficiency, and accountability. While implementing ZBB requires significant effort and change management, the benefits of ...
Zero-Based Budgeting: What It Is and How to Use It
Zero-Based Budgeting - ZBB: Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. Zero-based budgeting starts from a "zero base," and ...
Crystal Palace 5 Aston Villa 0
Watkins miscued a header with his one real chance of a frustrating match, with Villa going on to suffer their heaviest defeat since a 6-1 home reverse to Manchester City in January, 2020.
Why is the Turnitin Similarity Report score 0%?
When student submissions receive a 0% similarity score, it means that none of the text in the paper is matching the enabled search sources. Instructors may also see the message "There are no matching sources for this report." Turnitin's system looks for a minimum number of words in a sentence or paragraph structure to count as a match.

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