The net-zero transition is increasingly characterized as a “moonshot”, a once-in-a-lifetime inspirational project requiring a mission-driven industrial policy with coordination across all parts of the economy, and in the end globally. In emerging and developing economies these “moonshots” are very much about speeding up adaptation and imitation of green innovation elsewhere but doing so in a mission-driven purposeful manner. Reaching net zero in time will be the greatest challenge for state capacity to date for these economies. The impact of climate change will be the most severe where state capacity is in the shortest supply. The state will need to work with all the instruments it has at its disposal, harnessing the private sector and working with development partners, but it must go beyond individual instruments and collaborations and step in to solve coordination failures. This year’s AIF examines the main “tools” of the state – the state-owned enterprises (SOEs), the state-owned financial institutions (SOFIs) and private-public partnerships (PPPs) together with national innovation and technology adoption frameworks – and how these can work together to accelerate the net-zero transition.