The writer is the US special presidential envoy for climate
As we emerge from COP26 and take stock of our progress to avoid climate chaos, the world’s governments have committed to continue dramatically raising their ambition.
But to meet our goals, bold private-sector leadership is equally critical, in particular to decarbonise the industries where the transition to net zero emissions has barely begun. Solar and wind power alone cannot transform the global economy. Rapid progress in the so-called “hard-to-abate” sectors, including heavy industry and long-distance transportation, is also needed. These represent a third of global carbon emissions and, by 2050, could produce a majority.
A coalition of first-mover companies could harness their supply chains to scale up innovative breakthroughs, in turn driving down the cost of clean technologies in sectors where there are as yet no commercial alternatives…