MARKET
Net Zero Emission Targets are accelerating the energy transition
Europe at the Tipping Point to achieve 2050 Net zero ambition…
…with net zero policies going global
Countries Subscribing Net Zero Policies (% by Emissions)
Global Emissions c.38bn tonnes in 2018
Source : European Commission, BNEF (2020) Hydrogen Economy Outlook, Eurostat, EEA, EDGAR (Emissions Database for Global Atmospheric Research)
The Sector disruption Requires a Step-Change in Growth Capabilities
The EU Green Deal: ~€28trn Capex to Reach Net Zero by 2050…
New EU RES Forecasts
Renewable Generation Capacity (GW)
Renewable Generation Share of Total Production (%)
31%
2017
62%
2030
90%
2050
Source : Exhibit from “How the European Union could achieve net-zero emissions at net-zero cost”, December 2020, McKinsey & Company, www.mckinsey.com. Copyright (c) 2021 McKinsey & Company. All rights reserved. Reprinted by permission.