Commercial implications of net zero The business ramifications of net- zero sustainability are enormous. U.S. defense agencies spent an estimated $210 billion on products in 2022, while civilian agencies spent $49 billion. [v] The European Commission, in proposing a net-zero technology products manufacturing ecosystem, projects that the global market for mass-manufactured net-zero technologies will amount to EUR 600 billion annually by 2030. [vi]
Intergovernmental Panel set 2050 as the target for achieving net-zero goals for emissions of carbon dioxide (CO2) and deep reductions of non-CO 2 emissions. Despite the lack of any universal enforcement mandate, the net-zero target is increasingly being adopted by governments and businesses: ■ Thirty countries, including the U.S., have pledged to meet a net- zero goal for their government operations by 2050 and to reduce emissions by 65% by 2030.
■ Half of the world's 2,000 publicly listed companies have set net- zero targets, representing 66% of the annual revenue for that top 2000 category. [iii] ■ 45% of those polled by NAM say their companies have set formal net-zero goals, and 30% plan to achieve that by 2030. [iv]
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