Uncertainty about the availability of financing for innovation limits capital formation and slows scale-up. Similarly, unless manufacturers of utility-scale batteries can make them at low cost, power producers will have to keep running fossil fleets to cope with the intermittency of renewables. When, for example, will clean hydrogen cost $1 per kilogram: in 2025 or 2050? The answer will affect the speed at which industries from aviation to steel can decarbonize. This need for innovation makes the pace of decarbonization difficult to predict. The challenge is that further abatement must come from climate technologies that aren’t quite ready, including 25 to 30 percent from technologies that are demonstrated but not yet mature and another 10 to 15 percent from those still in R&D. The good news: McKinsey research on Europe’s net-zero pathway suggests that climate technologies that are already mature could, if deployed widely, deliver about 60 percent of the emissions abatement that will be needed to stabilize the climate by 2050. New technologies represent a critical part of the world’s decarbonization tool kit-and the world does not yet have all the technologies that it would need to solve the net-zero equation by balancing sources and sinks of greenhouse-gas (GHG) emissions.