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8 ADI | Engineering a More Sustainable Future Figure 1: CO 2 emissions reductions by measure in the Sustainable Development Scenario relative to the Stated Policies Scenario. 1 1 The Paris Agreement in 2015 set out a plan to limit global warming to 1.5°C by 2050. Meeting the 1.5°C target in 2050 requires a >80% reduction in current CO 2 emissions. The current trajectory is toward global warming of 1.9°C to 2.9°C, which will lead to a significant reduction in global GDP, displace up to 33% of the world population, and cost trillions of dollars in annual disaster-related losses. The world has already warmed by 1.1°C and experts say that it is likely to breach 1.5°C in the 2030s. The challenge to meet the 1.5°C target is significant. It will require a shift in investment away from fossil fuels and toward energy efficiency, renewables, and nuclear power generation as well as carbon capture, utilization, and storage ( CCUS ) along with other low carbon areas. Figure 1 outlines a path to the 1.5°C target by reducing CO 2 emissions to 6 Gt CO 2 , as covered in World Energy Outlook 2019. 1 This study includes two major sections: the Stated Policies Scenario and the Sustainable Development Scenario. The Stated Policies Scenario considers only specific policy initiatives that have already been announced. The Sustainable Development Scenario describes a pathway that enables the world to meet climate, energy access, and air quality goals, and is fully compliant with the Paris Agreement. At the same time, it maintains a strong focus on the reliability and affordability of energy for a growing global population. The largest reduction in CO 2 emission identified as part of the Paris Agreement is efficiency at 37%. 1 Global energy-related CO 2 emissions grew by 0.9% in 2022, reaching a new high of over 36.8 Gt. Emissions from industry declined by 1.7% to 9.2 Gt in 2022. With 25% of CO 2 emissions coming from industry in 2022 1 , accelerating industrial energy efficiency investments will be a key part of the path to net zero emissions in 2050. NAVIGATING THE PATH TO NET ZERO WILL CREATE NEW OPPORTUNITIES FOR INDUSTRIAL MANUFACTURING COMPANIES TO EMBRACE NEW TECHNOLOGIES TO ACCELERATE LOWER CARBON MANUFACTURING.