Zeroing in on Net Zero

This document provides information on net zero pledges and their role in closing the emissions gap. It reports that current NDCs and climate pledges for 2030 imply a 66% chance of 2.7°C warming, while limiting warming to 1.5°C requires nearly halving annual greenhouse gas emissions by 2030. It notes that 49 countries and the EU have net-zero targets covering more than half of global emissions and GDP and about a third of the population; 11 targets are enshrined in law and cover 12% of emissions. If fully implemented in addition to unconditional NDCs, net zero targets could reduce projected warming by 0.5°C, but many plans delay action until after 2030. The text calls on more members, particularly G20 economies, to adopt robust, near-term supported net zero targets that are consistent with mid-century goals.