With countries responsible for 90% of global gross domestic product committing to Net Zero by 2050, the near-future economy will look very different from the present. The shift is happening rapidly, in 2021 alone the Global Financial Alliance for Net Zero, a collaborative effort involving leading players in financial services, announced more than $130 trillion in commitments.footnote1
But while the capital is available to radically reshape the global economy, the big question remains: Where will it all go? According to Haim Israel, Head of Global Thematic Research for Bank of America, the technology sector will be at the heart of the transformation. “Available technology will get us about halfway there,” he notes. “But the remaining fifty percent will come from technologies that aren’t invented yet.”
Early signs of this shift are already happening in everyday life. Liz Everett Krisberg, Head of the Bank of America Institute, sees collaboration between public policy, private investment and nonprofit insights already affecting consumer behavior.
From regulatory policy to critical timetables, The Path To A Clean Energy Future report details ten major considerations facing sustainability efforts in the global business community. To learn more about how major trends – including renewable energy becoming the mainstream energy of the future – are shaping the years ahead, visit the Bank of America Institute for similar insights and expertise.
