Climate change mitigation does not have to be costly. Much of the carbon emissions can already be reduced today at low decarbonization cost, although some sectors face challenges.

Eight industries, globally, cause the most CO2 emissions: Fashion, automotive, electronics, services, fast-moving consumer goods (FMCG), construction, food and freight. The energy and oil & gas industries also contribute heavily, but their impacts are included in the footprints of the sectors mentioned.

Some industries, such as fashion, can bring about significant positive change at very low cost, for example by reducing overproduction and introducing textile recycling. Other industries, such as freight, still have work to do to find sustainable solutions, such as cost-friendly alternative fuels.

Overall, many decarbonization solutions we need to slow climate change and boost the economy are already available today. Companies that work to integrate these solutions into their operations can quickly gain competitive advantages such as lower costs and higher value from their assets.