The need to develop a decarbonized economy to curb human-caused climate change has been reflected through several international agreements. Advanced magnetic materials are key components in many applications that are critical to the development of such an economy where environmentally benign supply chains and product lifecycles have high value. Soft magnets are widely used in efficient electrical power conversion devices and magnetocaloric materials promise to enable the next generation of refrigeration systems. This honorary symposium will cover several aspects of soft magnets and magnetocaloric materials, from novel material design to prototyping and validation. Fundamental aspects of these magnetic materials in single-crystal, bulk, thin film and powdered forms will be discussed, as well as their applicability in multi-component power conversion devices from an engineering standpoint. Industrial and instrumental applications will also be discussed.