Goldman Sachs – Carbonomics, Feb 2025

Tariffs, deglobalization and the cost of decarbonization.

Technological innovations continue to reduce decarbonization costs, but in sectors where technology is harder to implement, costs are rising. Batteries, solar energy, and biofuels help reduce decarbonization costs, while industrial decarbonization remains a challenge. Deglobalization could increase decarbonization costs by 30%. Lower gas prices may aid decarbonization and reduce electricity costs by 20%.