November 13, 2019

A Decarbonized Economy: Risks and Opportunities

Samuel L. Brown and Lauren A. Bachtel

The state of New York recently established one of the most ambitious economy-wide climate targets in the world: 100 percent carbon-free electricity by 2040 and economy-wide, net-zero carbon emissions by 2050. This follows similar actions taken by other states—notably California—and other nations as part of their efforts to meet commitments made under the Paris Agreement. Meeting these targets will require a significant expansion of renewable energy, grid-scale storage, and electric vehicles, among other actions. Technology, mining, manufacturing, automotive, and energy businesses will need to innovate and implement new technologies, coordinate actions, and increase the scope and scale of the transition to a decarbonized economy.

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