Is Net Zero by 2050 Still Possible? Yes, But It’ll Cost 19% More (1)

Governments and companies need to spend an extra $34 trillion on the clean energy transition between now and 2050 to reach net-zero emissions, according to BloombergNEF.

The research group’s 250-page New Energy Outlook report, which crunches 18 million datapoints, says that amount is 19% more than what’s expected in its base case scenario. The finding indicates that sectors from electric vehicles and renewable energy to power grids and carbon capture need extra support.

The clean energy transition has faced resistance in recent years as climate policies have become a political flash point across the US and Europe. At the same time, renewable project developers have come ...