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NGFS long-term scenarios, narratives and key findings: Net Zero 2050, Current Policies and Fragmented World

Authors
/persons/resource/lea.hayez

Hayez,  Léa
Potsdam Institute for Climate Impact Research;

/persons/resource/Fabrice.Lecuyer

Lécuyer,  Fabrice
Potsdam Institute for Climate Impact Research;

George ,  Mel
External Organizations;

Ju ,  Yiyi
External Organizations;

Arora,  Meghal
External Organizations;

/persons/resource/stevanovic

Stevanović,  Miodrag       
Potsdam Institute for Climate Impact Research;

Anz,  Jacob
External Organizations;

/persons/resource/Bertram

Bertram,  Christoph       
Potsdam Institute for Climate Impact Research;

Edmonds,  Jae
External Organizations;

Fawcett,  Allen
External Organizations;

Fuhrman,  Jay
External Organizations;

/persons/resource/Gunnar.Luderer

Luderer,  Gunnar       
Potsdam Institute for Climate Impact Research;

/persons/resource/franziska.piontek

Piontek,  Franziska       
Potsdam Institute for Climate Impact Research;

Schleussner,  Carl-Friedrich
External Organizations;

van Ruijven,  Bas
External Organizations;

Zimmer ,  Anne
External Organizations;

/persons/resource/Elmar.Kriegler

Kriegler,  Elmar
Potsdam Institute for Climate Impact Research;

External Resource

https://www.ngfs.net/en/publications-and-statistics/publications/explanatory-notes-ngfs-long-term-climate-scenarios
(Publisher version)

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Citation

Hayez, L., Lécuyer, F., George, M., Ju, Y., Arora, M., Stevanović, M., Anz, J., Bertram, C., Edmonds, J., Fawcett, A., Fuhrman, J., Luderer, G., Piontek, F., Schleussner, C.-F., van Ruijven, B., Zimmer, A., Kriegler, E. (2025): NGFS long-term scenarios, narratives and key findings: Net Zero 2050, Current Policies and Fragmented World, Paris : Network for Greening the Financial System, 74 p.


Cite as: https://publications.pik-potsdam.de/pubman/item/item_33543
Abstract
In November 2024, the Network for Greening the Financial System (NGFS) published its fifth vintage of long-term scenarios, providing financial institutions with key information to assess and manage climate-related transition and physical risks. The scenarios stem from the integration of an ensemble of models including three Integrated Assessment Models (REMIND-MAgPIE, GCAM and MESSAGEix-GLOBIOM), the macroeconomic model NIGEM and climate-impact projection tools.
This report provides important context to NGFS scenariousers for the assessment of financial and macroeconomic risks associated with three of the NGFS scenarios: Net Zero 2050, Current Policies and Fragmented World. For these scenarios, the report describes the underlying narratives and selected quantitative features, including
model comparison.