The distributional consequences of the low-carbon transition depend fundamentally on ownership and financing structures. Research suggests that the global top 1 %’s share of household wealth could rise from 39 to 46 % if this group captures ownership of all assets associated with the transition. By contrast, it could fall to 26 % if these assets are owned by governmental or cooperative actors and financed through a tax on the wealth of the top 1 %. The Roadmap therefore proposes that public, municipal and cooperative ownership be prioritized in the development of strategic low-carbon assets, including renewable energy generation, electricity grids, storage and related infrastructure, particularly where such assets remain relatively inexpensive today but are likely to gain substantial value as decarbonization advances. Historical experience shows that major energy transformations have often relied on strong public action, including the New Deal in the United States in the 1930s, the British post-war nationalizations, the French state-led restructuring of the electricity system in the 1970s, and the expansion of Swedish municipal heating systems in the 1980s. The transfer of privatized fossil fuel companies to the public sector should also be seriously examined where this could accelerate their shift away from fossil fuel production and redirect investment towards low-carbon alternatives, especially where regulation and economic incentives alone has proved insufficient. Public and collective ownership does not imply a single institutional model, but it can strengthen democratic oversight, limit the private capture of transition-related rents, and expand the capacity of States to align energy systems with decarbonization, price stability and distributive justice.
