The Net-Zero Transition: What it would cost, what it could bring

Governments and companies are embracing the imperative for urgent climate action and are setting goals to achieve net-zero emissions. However, even if all existing global net-zero commitments were met, the world would not be able to keep warming below 1.5 degrees Celsius.

Further adjustments will need to happen. Achieving net-zero by 2050 will require extensive changes to the energy and land-use systems that produce the world’s emissions: power, industry, mobility, buildings, agriculture, and forestry and other land use.

This event will bring together business leaders and policy experts to launch a new report by McKinsey & Company on the net-zero transition. The panellists will discuss the report’s findings and assess the economic impacts on capital allocation, demand, costs, and jobs – as well as the potential gains the transition could bring.

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SPEAKERS

Jonathan Woetzel, Director, McKinsey Global Institute 
Based in China since 1985, Dr Jonathan Woetzel has been instrumental in building McKinsey’s China office. In addition to his work helping local businesses prepare for global growth, Jonathan is a Director of the McKinsey Global Institute (MGI), McKinsey’s business and economics research arm. He also leads McKinsey’s Cities Special Initiative and is responsible for convening McKinsey’s work with city, regional, and national authorities in more than 40 geographies around the world.

Jonathan has led numerous research efforts on global economic trends, including growth and productivity, urbanization, affordable housing, energy and sustainability, e-commerce, and the economic impact of the Internet, as well as on productivity growth and economic development in China and Asia.

Jonathan’s public sector work is extensive. He has advised national governments in Asia on improving the environment for foreign investors, national energy policy, and economic development strategies. He also leads work with local government authorities, having conducted more than 100 projects globally to support local economic development and transformation. This includes working extensively in real estate—specifically, on commercial revitalization—and advising on energy investment strategies and energy productivity and transparency, among other issues.

Jonathan works in the private sector as well, most often on issues related to corporate strategy, operations, and organization. He has served clients in industries such as energy, metals and mining, health care, telecommunications, and transportation, including decarbonizing one of the world’s largest technology companies.

Masyita Crystallin, Special Advisor to the Minister of Finance on Macroeconomic and Fiscal Policy, Indonesia 

Masyita Crystallin is currently serving as a Special Advisor to the Minister of Finance Republic of Indonesia on Macroeconomic and Fiscal Policy, with diverse experience prior to joining the Finance Ministry. She is the Sherpa for the Coalition of Finance Ministers for Climate Action where the Indonesia’s Finance Minister Sri Mulyani Indrawati serves as co-chair together with Finance Minister of Finland and Indonesia Investment Authority’s spokesperson. Masyita also serves as a Commissioner at the Indonesia Financial Group. At University of Indonesia, she serves as a Senior Researcher at the Demographic Institute.

Prior to joining the ministry, Masyita served as the Chief Economist for DBS Indonesia, leading macroeconomics, fiscal, and market analysis. She also acted and served as a Macroeconomist at the Macro Fiscal Management team at the World Bank and was part of the core economist team supporting Indonesia’s Fiscal Policy Agency. She carried out duties on various positions within the government, as macroeconomic policy special advisor to the Coordinating Minister of Maritime Affairs focusing on accelerating the nation’s infrastructure and tourism development, she was also part of the National Team for the Enhancement of Exports and Investment led by the Coordinating Ministers of Economic Affairs previously.

Tanah Sullivan, Group Head of Sustainability, GoTo

Tanah Sullivan is the Group Head of Sustainability at GoTo and leads its environmental, social and governance (ESG) efforts across Gojek, GoTo Financial and Tokopedia. Before GoTo, Tanah was at the World Economic Forum in Switzerland, where she led partnerships for a range of sustainability-focused initiatives in ASEAN and globally. She led the Forum’s efforts on issues such as energy transition, circular economy, food security, gender equality, deforestation and financial inclusion, among others.

Previously, Tanah held various public sector roles with the Canadian and Australian governments, covering international security, development, natural resource security as well as foreign trade and investment.

Martyn Link, Chief Strategy Officer, Wood

Martyn’s passion is to shape the energy transition to create a low carbon, sustainable future for all. As Chief Strategy Officer, Martyn leads Wood’s energy transition mega-trend and corporate strategy team. Martyn has had the privilege of being at the heart of many of the transformational changes that have shaped Wood over the last ten years as the company pivoted towards the energy transition. Martyn is a scientist by training and began his career at Wood Mackenzie where he focused on strategic intelligence. Martyn subsequently helped shape the investment portfolio of a biotechnology innovation fund before joining Wood in 2011.

Jonathan Dunn, Head of International Policy and UK Government Relations, Group International, Government and Sustainability Relations, Anglo American

Jonathan has responsibility for Group public policy positioning and advocacy on climate change, leads on UK Government Relations, provides Government Relations support to Anglo American’s operations to Brazil, and strategic stakeholder management for the Group’s Executive Committee. Prior to joining Anglo American in 2018, Jonathan served as a British diplomat for 21 years, during which time he spent four years in Hanoi, Vietnam and eight years in Brazil (5 in Brasilia and 3 in Rio de Janeiro). His time in Rio coincided with the Rio 2016 Olympic and Paralympic Games and Jonathan led the UK Government’s work on the Games, receiving an OBE from HM Queen Elizabeth for this work.

This event is the UK launch of McKinsey’s new report, ‘The Net Zero Transition: What it would cost, what it would bring’. Read the report here.

McKinsey also explore six key characteristics of the transition in a new video: