Roadmap to Phase-Out Fossil Fuels

This Open Access book presents industry-specific greenhouse gas emission reduction targets in five-year steps from 2025 to 2050 for twelve major finance sectors classified under the Global Industry Classification System (GICS). The analysis supports the United Nations Principles for Responsible Investment (UNPRI) and contributes industry mitigation pathway data to the IPCC AR7 Working Group III process. The pathways are derived from global, regional, and country-level energy and emissions scenarios consistent with keeping warming well below 2°C under the Paris Climate Agreement. The book outlines recent industry responses to climate science, links between sustainable finance and emissions reduction, and trends in global energy markets, with particular attention to the rapid expansion of renewable energy. A detailed methodology section documents assumptions, technologies, costs, and benefits across two net-zero scenarios: one based on 100 percent renewable energy and another combining renewables with carbon capture, storage, and direct air capture. Renewable process heat, renewable fuels, and nature-based solutions for negative emissions are assessed alongside CCS. Scenario results are presented for twelve industry sectors with regional and country-level detail, using Scope 1, 2, and 3 accounting and extending this framework to net-zero and nature-positive pathways to 2050. GIS-based land-use maps for agriculture and forestry are included. The book concludes with policy and finance recommendations and provides detailed datasets for all G20 countries, offering a transparent evidence base for science-based industry targets and investment strategies aligned with the Paris Agreement.