The assumptions on which our targets are based
The targets we have set are based on a number of assumptions:
- The cost of green hydrogen will become increasingly competitive over the next decade but will still require government support
- Carbon capture, utilisation and storage (CCUS) infrastructure will take time to be built at scale. While Europe is expected to take the lead, CCUS infrastructure has the potential to expand quickly in the US and Canada – providing some potential upside to our assumptions
- Different regions of the world will continue to move at very different paces and the level of climate ambition will differ between jurisdictions at any given time
- The introduction of climate-friendly policies in other regions will be 5-10 years behind Europe
- As it has been reported, 2060 may not be a realistic net-zero target for developing economies, which may mean emissions do not peak until 2030