Goldman Sachs Global Net Zero Carbon Scenarios

This technical report presents updated global net zero carbon scenarios by Goldman Sachs, reflecting changes in emissions and coal usage since 2022. The report introduces three decarbonization paths: GS 1.5°, GS 2.0°, and GS <2.0°, with a focus on the implications of each scenario. Key findings include the challenges of achieving the 1.5° scenario, which requires accelerated decarbonization efforts, and the more achievable 2.0° scenario that anticipates increased adaptation costs. The report also discusses technology adoption trends, noting the rapid growth of electric vehicles (EVs), solar, and nuclear energy, while highlighting slower adoption of hydrogen and carbon capture technologies. Additionally, it addresses the continued need for fossil fuel investments and the projected peak in oil demand beyond 2030. The report translates these scenarios into emission intensity reduction pathways for 30 major emitting industries, providing a framework for assessing corporate emission reduction targets.