To achieve net zero, climate technology deployment will need to significantly increase. Twelve sets of climate technologies can help to enable about 90 percent of the total abatement needed by 2050, but only 10 percent of them are commercially mature, according to an upcoming report from McKinsey's Bernd Heid, Martin Linder, Mark Patel, and coauthors. “To spur innovation and reduce costs, our analysis suggests that climate tech investments would need to grow by about 10 percent each year and reach approximately $2 trillion by 2030, equivalent to about 1 percent to 2 percent of global GDP,” the authors write. On day 3 of COP28, check out the report preview and other insights on climate tech for a roadmap on innovation, cost-down, and global deployment.
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