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Assessing the rapidly-emerging landscape of net zero targets

Author

Listed:
  • Thomas Hale
  • Stephen M. Smith
  • Richard Black
  • Kate Cullen
  • Byron Fay
  • John Lang
  • Saba Mahmood

Abstract

In the five years since the Paris Agreement, achieving net zero emissions has become a defining frame for climate action. We review over 4000 countries, companies, and subnational governments, which together make up the preponderance of global emissions. We find 769 of these entities have net zero targets, but only 152 meet minimum criteria for robustness, including timing, status, coverage, use of offsets, and governance. Though net zero is now widespread as a concept, its operationalization is still in its infancy. Making net zero targets robust should now be a priority for policymakers in order to deliver Paris-consistent action, as well as securing more ambitious targets.Key policy insightsNet zero targets now cover two-thirds of the global economy, but robust net zero targets only cover around five percent.Strengthening targets and their implementation is particularly needed in the following areas: target status (including setting targets into law); coveraneuge of activities; limits to and transparency regarding the use of offsets; and publication of plans and of progress reports.Policymakers should aim to strengthen net zero targets by setting standards for robust net zero targets; building the capacity of entities, particularly those in the global South, to meet the technical and resource challenges required to effectively operationalize net zero emission targets.

Suggested Citation

  • Thomas Hale & Stephen M. Smith & Richard Black & Kate Cullen & Byron Fay & John Lang & Saba Mahmood, 2022. "Assessing the rapidly-emerging landscape of net zero targets," Climate Policy, Taylor & Francis Journals, vol. 22(1), pages 18-29, January.
  • Handle: RePEc:taf:tcpoxx:v:22:y:2022:i:1:p:18-29
    DOI: 10.1080/14693062.2021.2013155
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    Cited by:

    1. Govindan, Kannan, 2023. "How digitalization transforms the traditional circular economy to a smart circular economy for achieving SDGs and net zero," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 177(C).
    2. Holly Jean Buck & Wim Carton & Jens Friis Lund & Nils Markusson, 2023. "Why residual emissions matter right now," Nature Climate Change, Nature, vol. 13(4), pages 351-358, April.
    3. Kai RĂ¼dele & Matthias Wolf, 2023. "Identification and Reduction of Product Carbon Footprints: Case Studies from the Austrian Automotive Supplier Industry," Sustainability, MDPI, vol. 15(20), pages 1-24, October.
    4. Comello, Stephen & Reichelstein, Julia & Reichelstein, Stefan, 2023. "Corporate carbon reporting: Improving transparency and accountability," ZEW Discussion Papers 23-026, ZEW - Leibniz Centre for European Economic Research.
    5. Maksym Chepeliev, 2023. "GTAP-Power Data Base: Version 11," Journal of Global Economic Analysis, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, vol. 8(2), pages 100-133, December.

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