Net Zero Emissions by 2050 Scenario (NZE)

The 2023 Net Zero Emissions by 2050 Scenario:

Describes a pathway for the global energy sector to reach net zero CO2 emissions by 2050 by deploying a wide portfolio of clean energy technologies, without offsets from land-use measures. Decisions about technology deployment driven by costs, technology maturity, market conditions, available infrastructure and policy preferences.
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Prioritises an orderly transition that aims to safeguard energy security through strong and co-ordinated policies and incentives that enable all actors to anticipate the rapid changes required, and to minimise energy market volatility and stranded assets. Rapid deployment of clean energy technologies and energy efficiency is at the core of this transition. The NZE Scenario is underpinned by detailed analysis of project lead times for minerals supplies and clean energy technologies as part of efforts to ensure the feasibility of the deployment. There is, however, inevitably a risk of bottlenecks emerging for some technologies, which underscores the importance of measures to enhance material reuse and recycling and to drive down the material intensity of clean energy technologies.
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Recognises that achieving net zero energy sector CO2 emissions by 2050 depends on fair and effective global co-operation. The pathway to net zero emissions by 2050 is very narrow. All countries will need to contribute to deliver the desired outcomes; advanced economies take the lead and reach net zero emissions earlier in the NZE Scenario than emerging market and developing economies. Global access to electricity and clean cooking is achieved by 2030 in line with established SDGs. Rapid and major reductions in methane emissions from the oil, gas and coal sectors help to buy some time for less abrupt CO2 reductions in emerging market and developing economies. Global collaboration facilitates the development and adoption of ambitious policies, drives down clean technology costs, and scales up diverse and resilient global supply chains for critical minerals and clean energy technologies. Enhanced financial support to emerging market and developing economies plays a critical part in this collaboration.