Paris— In a new study entitled “ Fast-Tracking Green Tech: It Takes an Ecosystem ” the Boston Consulting Group analyzes the potential of green technologies known as Green Tech and highlights the opportunity they represent in efforts to reduce greenhouse gas (GHG) emissions on a global scale.
In details :
- According to BCG analyses, existing technologies could reduce greenhouse gas emissions emitted worldwide each year by 45%. The remaining 55% (28 gigatons CO2e/year) can only be mitigated with the development and scaling up of Green Tech or green technologies.
- Eight Green Techs are identified as priorities by BCG: 5 preponderant, which are low-carbon hydrogen – and therefore electrolysers and fuel cells, the two carbon capture systems – in emission zones (CCUS) and in the air (DAC), energy storage – EV batteries and long-term storage, and Sustainable Aviation Fuel (SAF) in particular synthetic fuels. The other 3, green building technologies, low-carbon industrial technologies, and new distributed energy source technologies, also have major roles to play, but in more focused applications, such as steel production for example.
- At this stage, none of these technologies has reached a sufficient level of maturity to be deployed on a massive scale . Yet, to meet the Paris Agreement target, these technologies must achieve mass industrialization two to four times faster than previous “green technologies” (e.g. photovoltaic and onshore wind power).
- The challenges of this industrialization are so complex that no company can meet them alone. To achieve this, it is necessary:
- To partially parallelize traditionally sequential activities: product design, setting up supply chains, building factories, recruiting staff, integrating the final product into its environment, and financing.
- To create and develop ecosystems – major manufacturers, start-ups, schools, public organizations. These ecosystems will share their resources and know-how in the service of a common objective, for example a data exchange platform, cooperation tools, or even financial aid.
Beyond their environmental contribution, such ecosystems make it possible to drastically accelerate the time to market, and therefore to benefit from the economic potential of the development of Green Tech, estimated at 25,000 billion dollars by 2040.
