The second edition of the Net-Zero Industry Tracker report provides a detailed analysis of the progress heavy industrial and transport sectors are making worldwide, in their efforts to achieve net-zero emissions by 2050. These sectors, which account for more than 40% of global greenhouse gas emissions, need multifaceted solutions that accelerate the speed of technology development, build supporting infrastructure, and raise necessary capital to finance the transformation. A robust and ambitious policy agenda, supported by collaboration across sectors and between countries is critical to align the decarbonization of heavy industrial and transport sectors with the pathways aligned with net-zero emissions by 2050.