Economic Consequences of Climate Change.

Net Zero by 2050 - A Roadmap for the Global Energy Sector
Foreword
Acknowledgements
Table of Contents
Summary for policy makers
Chapter 1 - Announced net zero pledges and the energy sector
	1.1 Introduction
	1.2 Emissions reduction targets and net zero pledges
		1.2.1 Nationally Determined Contributions
		1.2.2 Net‐zero emissions pledges
	1.3 Outlook for emissions and energy in the STEPS
		1.3.1 CO2 emissions
		1.3.2 Total energy supply, total final consumption and electricity generation
		1.3.3 Emissions from existing assets
	1.4 Announced Pledges Case
		1.4.1 CO2 emissions
		1.4.2 Total energy supply
		1.4.3 Total final consumption
		1.4.4 Electricity generation
Chapter 2 - A global pathway to net-zero CO₂ emissions in 2050
	2.1 Introduction
	2.2 Scenario design
		2.2.1 Population and GDP
		2.2.2 Energy and CO2 prices
	2.3 CO2 emissions
	2.4 Total energy supply and final energy consumption
		2.4.1 Total energy supply
		2.4.2 Total final consumption
	2.5 Key pillars of decarbonisation
		2.5.1 Energy efficiency
		2.5.2 Behavioural change
		2.5.3 Electrification
		2.5.4 Renewables
		2.5.5 Hydrogen and hydrogen‐based fuels
		2.5.6 Bioenergy
		2.5.7 Carbon capture, utilisation and storage
	2.6 Investment
	2.7 Key uncertainties
		2.7.1 Behavioural change
			Impact of behavioural changes in selected sectors in the NZE
			How to bring about the behavioural changes in NZE
			Are net‐zero emissions by 2050 still possible without behavioural change?
		2.7.2 Bioenergy and land‐use change
			Ensuring a sustainable supply of bioenergy
			Are net‐zero emissions by 2050 possible without expanding land use for bioenergy?
		2.7.3 CCUS applied to emissions from fossil fuels
			Are net‐zero emissions by 2050 possible without fossil fuel‐based CCUS?
Chapter 3 - Sectoral pathways to net-zero emissions by 2050
	3.1 Introduction
	3.2 Fossil fuel supply
		3.2.1 Energy trends in the Net‐Zero Emissions Scenario
			Oil
			Natural gas
			Coal
		3.2.2 Investment in oil and gas
		3.2.3 Emissions from fossil fuel production
	3.3 Low‐emissions fuel supply
		3.3.1 Energy trends in the Net‐Zero Emissions Scenario
		3.3.2 Biofuels
		3.3.3 Hydrogen and hydrogen‐based fuels
		3.3.4 Key milestones and decision points
			Biofuels
			Hydrogen‐based fuels
	3.4 Electricity sector
		3.4.1 Energy and emissions trends in the Net‐Zero Emissions Scenario
		3.4.2 Key milestones and decision points
	3.5 Industry
		3.5.1 Energy and emission trends in the Net‐Zero Emissions Scenario
			Chemicals production
			Iron and steel production
			Cement production
		3.5.2 Key milestones and decision points
	3.6 Transport
		3.6.1 Energy and emission trends in the Net‐Zero Emissions Scenario
			Road vehicles
			Aviation
			Maritime shipping
			Rail
		3.6.2 Key milestones and decision points
	3.7 Buildings
		3.7.1 Energy and emission trends in the Net‐Zero Emissions Scenario
			Zero‐carbon‐ready buildings
			What is a zero‐carbon‐ready building?
			Heating and cooling
			Appliances and lighting
		3.7.2 Key milestones and decision points
Chapter 4 - Wider implications of achieving net-zero emissions
	4.1 Introduction
	4.2 Economy
		4.2.1 Investment and financing
		4.2.2 Economic activity
		4.2.3 Employment
	4.3 Energy industry
		4.3.1 Oil and gas
		4.3.2 Coal
		4.3.3 Electricity
		4.3.4 Energy‐consuming industries
	4.4 Citizens
		4.4.1 Energy‐related Sustainable Development Goals
			Energy access
			Air pollution and health
		4.4.2 Affordability
			Total spending on energy
			Household spending on energy
		4.4.3 Behavioural changes
	4.5 Governments
		4.5.1 Energy security
			Oil and gas security
			Electricity security
		4.5.2 Infrastructure
		4.5.3 Tax revenues from retail energy sales
		4.5.4 Innovation
			Governments drive innovation in the NZE
		4.5.5 International co‐operation
Annexes
	Annex A - Tables for scenario projections
		General note to the tables
		Data sources
		Definitional note: A.1. Energy supply and transformation table
		Definitional note: A.2. Energy demand table
		Definitional note: A.3. Electricity tables
		Definitional note: A.4. CO2 emissions table
		Definitional note: A.5. Economic and activity indicators
	Annex B - Technology costs
		Electricity generation
		Batteries and hydrogen
	Annex C - Definitions
		Units
		General conversion factors for energy
		Currency conversions
		Definitions
		Regional and country groupings
			Country notes
		Abbreviations and Acronyms
	Annex D - References
		Chapter 1: Announced net zero pledges and the energy sector
		Chapter 2: A global pathway to net‐zero CO₂ emissions in 2050
		Chapter 3: Sectoral pathways to net‐zero emissions by 2050
		Chapter 4: Wider implications of achieving net‐zero emissions
		Annex B: Technology costs
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