Net zero by 2050: the need for net zero demonstration projects

In its landmark report last year, Net Zero by 2050: A Roadmap for the Global Energy Sector, the IEA stated that “international programmes to fund demonstration projects, especially in sectors where technologies are large and complex, would accelerate the innovation process”. The IEA estimates that at least USD 90 billion of public funding needs to be raised by 2026 to complete a portfolio of demonstration projects for technologies that could be commercially ready by 2030 and contribute to achieving net zero emissions by mid-century. This note explains the key considerations and technological fundamentals underpinning such analysis.