Please email us at: some cases, as a counterfactual for comparison, we also use the NGFS Current Policies scenario. If you would like information about this content we will be happy to work with you. We strive to provide individuals with disabilities equal access to our website.
We chose to work with the NGFS scenarios because they cover all major energy and land-use systems in a coherent manner, provide regional granularity, are designed for use in risk and opportunity analysis, and are becoming the standard scenarios used by financial institutions, regulators, and supervisors. It reaches net-zero CO 2 emissions by 2050 for the economy as a whole this means there are some low residual gross CO 2 emissions in hard-to-abate sectors and some regions that are counterbalanced by CO 2 removals. This hypothetical scenario mirrors global aspirations to cut emissions by about half by 2030 and to net zero by 2050 (exhibit). Specifically, we analyze potential effects under the Net Zero 2050 scenario defined by the Network for Greening the Financial System (NGFS). We chose not to develop our own transition scenarios and rely instead on widely used scenarios created by other institutions. For the geographic dimension, we analyze effects in depth for 69 countries, which make up about 95 percent of global GDP. We also looked at fossil fuels that supply energy to many of these systems. For the first, we examine energy and land-use systems that account for about 85 percent of global emissions: power, mobility (in particular, road transportation), industry (steel and cement production), buildings, agriculture and food, and forestry and other land use. We assess the net-zero transition along two dimensions: sectors and geographies. The analysis is not exhaustive, and we acknowledge its limitations and uncertainties (see sidebar, “Our research methodology: Sources, scenarios, limitations, and uncertainties”). Our perspectives on demand, investment, costs, and jobs below represent a consistent and interdependent view of the world under this scenario. This is a hypothetical simulation, not a projection or a prediction. Our analysis uses the Net Zero 2050 scenario from the Network for Greening the Financial System (NGFS). Our focus is on the nature and magnitude of the transition in four areas: demand, capital allocation, costs, and jobs. We look at the shifts in the economy in aggregate, on energy and land-use systems and the sectors that they encompass, and on individuals, both consumers and workers. Here, we illustrate the economic and societal adjustments by examining the economic transformation that would enable a successful transition to net-zero emissions by 2050. Global decarbonization will be possible only if nine system-level requirements are met, encompassing physical building blocks, economic and societal adjustments, and governance, institutions, and commitment.
Canadian cities in transition 6th edition full#
Full Report (224 pages) Executive Summary (PDF-2MB)
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