In our quest for a future free from emissions, the Net Zero Emission (NZE) roadmap outlined by the International Energy Agency (IEA) serves as a guide. Their proposal advocates for investments in clean technology of approximately 4.5 trillion USD per year from 2030 to 2050, which can be seen in the graph above. However, it is maybe more relevant to state this number in relation to GDP. 4.5 trillion USD corresponds to approximately  4.5 percent of the global GDP 2023 and is estimated to be about 2.5 percent by 2050. As of 2023, this figure was about 1.7 percent, igniting profound reflections on the imperative for responsibility and action. [1][2][3][4]

We firmly believe that while the lion’s share of investments must come from corporations, much responsibility rests on individuals to act. Here’s why.

To achieve NZE by 2050, both production and consumption must align with net zero principles. To achieve this the production of products and services as well as the energy used related to consumption must be Net Zero Emission. Since no single individual can accomplish this alone, the bulk of change must occur on a collective bases, and on the production side. Nevertheless, as individuals collectively constitute society, we bear a substantial responsibility.

Hence, we need to steer towards this goal by contributing to improving the products and services at work, thoughtful consumption, vote in elections, and supporting others who are taking action. You need not necessarily work in the clean tech sector to contribute at work. For instance, even if you work in the production of toothbrushes—a product of importance—your efforts toward making it net zero emissions would be invaluable. Everyone involved in toothbrush manufacturing or similar can contribute in this regard. We can not all produce or do research on solar panels or the like. Moreover, as conscientious consumers, we redirect financial flows towards environmentally responsible companies. This sets off a positive spiral, where better-performing companies continue to improve, and the lagging ones strive to catch up, all to maintain robust sales. The market forces are set in motion, which is an absolute necessity if we should succeed.

When considering the investments needed, individual initiative is important. To go from investing 1.7% of GDP to the targeted 4.5%, it would be enough if each individual invested 1% of their net income in environmental technology initiatives, along with companies and the public sector allocating about 20% of their annual investments to environmental technology. [5] It is noteworthy that this projection is based on the assumption that the global GDP composition mirrors Sweden’s. 

Lastly, a concrete example of what individual action could involve:

• Decide on what you think is good enough, and really good, when it comes to contributing to NZE. Do at least what you think is good enough.

Here is my current good enough and really good :

• Good enough:
  • Reducing personal consumption and opting for consuming products and services with lowest emissions, or greatest potential for beeing NZE in the future. It is possible to decrease the emissions from one´s consumption quite significantly without doing something extreme. Search the web if you need ideas. 
  • Contribute to making my workplace’s products and services net zero emission, within my area of influence/job.
  • Contributing to the production of green energy, to the extent feasible within my living arrangements
• Really good:
  • Blogging to inspire others to act for, and feel positive about the attainability of, NZE 2050.
  • Contributing financially, at least 1% of net income, to make a part of the production that is especially important to me Net Zero Emission. It could be giving money to farmers in need of investments to make their food production more NZE.
  • Make one existing product or service NZE.

In summary:

We can indeed achieve Net Zero Emissions by 2050, and your actions wield significant influence. You can take initiative both in your workplace and personal life, and the most crucial aspect is that everyone contributes. No one can do this on their own, but everyone can do their part. And remember, be proud of your contribution! 

As always, please let us know if you can tell us a story of what you have achieved by taking action and contributing to net zero emission, or if you have any suggestion of a company that you think deserve to be featured at this blog.

References:

[1] IEA. Overview and key findings – World Energy Investment 2023. Overview and key findings – World Energy Investment 2023 – Analysis – IEA. (2024-04-27)

[2] IEA. Executive summary – Net Zero Roadmap: A Global Pathway to Keep the 1.5 °C Goal in Reach. Executive summary – Net Zero Roadmap: A Global Pathway to Keep the 1.5 °C Goal in Reach – Analysis – IEA. (2024-04-27)

[3] IEA. Net Zero by 2050 – A Roadmap for the Global Energy Sector. Net Zero by 2050 – A Roadmap for the Global Energy Sector – IEA. (2024-04-27)

[4] Our World in Data. CO2 emissions by fuel. CO₂ emissions by fuel – Our World in Data. (2024-04-27)

[5] Ekonomifakta. BNP – detaljerat. BNP – detaljerat – Ekonomifakta. (2024-04-27)