May 16, 2024 Deloitte on Manufacturing Roadmap to Net-Zero Emissions

Deloitte’s report emphasizes urgency of scaling, innovation, and sequencing change for energy transition in manufacturing.

Deloitte’s new report, “Energy Transition: The Road to Scale,” explores a potential roadmap for the future, outlining strategic initiatives and cross-sector collaborations to help make net-zero emissions by 2050 a reality. The report is the result of extensive research and Deloitte analysis, emphasizing the important role of cross-industry collaboration in paving the way towards a more sustainable future. The report focuses on the comprehensive strategies for sequencing and achieving sustainable progress in each of five verticals—infrastructure; power grid; industrial manufacturing; mining and metals; and land, water and waste.

Deloitte’s analysis shows that to reach net-zero emissions by 2050, changes should be accomplished with urgency. The journey to net zero needs to happen at roughly 4x the speed of other major historical transformations like the Industrial Revolution. This will likely only happen via cross-industry and public-private collaboration. Acting now to capture emissions would be dramatically more effective than postponing the process: Deloitte’s analysis found that capturing 1 million metric tonnes per annum (mmtpa) of carbon by 2050 is equivalent to capturing only 0.35 mmtpa today.

“The transition to net-zero emissions is not just an environmental imperative, but also an opportunity to drive economic growth and societal progress,” said Stanley Porter, global energy, resources and industrials leader, Deloitte Global. “Achieving net-zero goals by 2050 does not offer much flexibility. We must act with urgency, and collaborate across industries, to help ensure a successful energy transition — one where neither the financial nor environmental costs are too high for us to bear on a global scale.”

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