Net Zero Strategy: Exploring Opportunities, Confronting Challenges for Developing Countries

The Paris Agreement aims to keep global warming well below 2 °C, and hence, countries worldwide are re-examining their strategies for attaining net zero goals. The decarbonization vision calls for steps to shift to a low-carbon economy, with a focus on infrastructure compatible with sustainable practices and government agency cooperation. All of these factors have increased the pressure on developing nations to reduce their carbon emissions. Since there isn’t a single, globally accepted methodology, nations at both the national and sub-national levels combine a range of methodologies to determine the most favorable pathways. Several projects globally showcase innovative and pioneering low-carbon solutions. This paper aims to analyze prevalent patterns in four sectors, including electricity and heating, transport, manufacturing, and construction, regarding greenhouse gas emissions at the global level. The opportunities identified to reduce greenhouse gas emissions among developing nations, such as promoting the use of renewable sources and nuclear power for energy generation, are crucial. In the transportation sector, electro-fuels, bio-fuels, hydro-fuels, and electric vehicles can substitute for traditional transport methods. We must transform the manufacturing and construction industries by incorporating sustainable measures like carbon capture and enhancing the effective life of equipment. This chapter also considers the challenges associated with successful implementation of these initiatives. Implications, limitations, and scope for future research on the study are furnished toward the end.