In this important paper “The Next Generation of Climate Innovation” from Boston Consulting Group the authors begin with “Global momentum is building to achieve net zero in greenhouse gas (GHG) emissions—and to do so more quickly than previously envisioned. Getting there will require unprecedented levels of innovation. While a fast-rising number of companies and governments are committing themselves to ambitious net-zero goals, most focus the strategy exclusively on emissions and expect the necessary technologies and solutions to become available as needed.”

They continue with “Annual global emissions of carbon dioxide equivalents now amount to about 51 gigatons. Some estimates, such as the P4 pathway defined by the Intergovernmental Panel on Climate Change (IPCC), show that today’s technologies have the potential to reduce global emissions by about two-thirds. More innovation-driven projections—such as IPCC’s low-energy demand pathway, P1—do not bank on any new technologies but instead assume radical business model and policy innovation. It is clear that reaching climate change goals requires new technologies and novel business models and markets. Fortunately, there’s momentum building for a new generation of innovative solutions.”

Read more at https://www.bcg.com/en-us/publications/2021/next-generation-climate-innovation.