Achieving the Paris Climate Agreement Goals Part 2: Science-based Target Setting for the Finance industry—Net-Zero Sectoral 1.5˚C Pathways for Real Economy Sectors

The One Earth Climate Model (OECM) began as a research project supported by One Earth between the University of Technology Sydney, the German Aerospace Centre, and the University of Melbourne in 2017. They were tasked with developing a detailed 1.5˚C GHG trajectory for ten world regions without the continued use of fossil fuels or unproven technologies like carbon capture and storage. The results of the first model made it clear that it is still possible to limit warming to 1.5˚C with a rapid transition to 100% renewable energy sources. However, the model did not yet have the granularity the financial sector needed to guide and benchmark net-zero investments. The book, Achieving the Paris Climate Agreement Goals Part 2: Science-based Target Setting for the Finance Industry — Net-Zero Sectoral 1.5˚C Pathways for Real Economy Sectors, is designed as a continuation of this group’s 2019 first edition, which focused on country-specific energy pathways. Decarbonization pathways have been developed for countries, regions, and communities, but never before for industry sectors in a detailed way. While the book consists of 400 pages of dense methodologies and calculations, its topline message is clear; in the words of the lead author Sven Teske, “ We can limit global warming to 1.5˚C with the technology pathways we describe... I would call it an action plan to save the future for our children and their children."

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