Bold Measures to Close the Climate Action Gap: A Call for Systemic Change by Governments and Corporations

The report identifies a critical gap between current climate commitments and the actions needed to limit global warming to 1.5°C, which requires a 7% annual emissions reduction. It proposes five priorities for governments: closing the 600-gigatonne ambition gap, implementing meaningful carbon pricing, doubling financing for high-impact solutions, removing transition obstacles like permitting delays, and preparing for drastic measures such as technology bans. For corporations, it suggests five systemic levers: accelerating supplier decarbonization, enabling greener customer choices, driving industry-wide change through alliances, engaging in cross-industry partnerships to scale technology, and advocating for bolder public policies.

• To maintain the 1.5°C warming limit, global annual emissions must be reduced by approximately 7%, contrasting with the recent trend of a 1.5% annual increase.
• Current national commitments are insufficient; if all existing NDCs and net-zero targets are met, the world will still overshoot the 1.5°C-aligned emissions budget by over 600 gigatonnes by 2050, potentially leading to 2.5°C of warming by 2100.
• There is a significant climate finance gap for lower- and middle-income countries, estimated between $1.2 trillion and $1.4 trillion annually, which is double the gap seen in higher-income nations.
• Global carbon pricing is underdeveloped; while nearly 25% of global emissions are covered by some pricing scheme, only 3% are subject to pricing levels deemed sufficient by the High-Level Commission on Carbon Prices.
• Regulatory and permitting delays significantly hinder the energy transition; in the US, the wind and solar PV capacity awaiting regulatory approval is four times the amount currently operational.
• The top 1,000 global companies by revenue have a massive potential impact, as their upstream supply chains account for more than a quarter of all global emissions.
• Corporate engagement with suppliers remains superficial; while 86% of the 500 largest CDP respondents engage suppliers, less than 30% require them to set specific decarbonization targets.
• Decarbonizing end-consumer products is more economically viable than often perceived, with full decarbonization estimated to add only 1% to 4% to end prices by 2030, and a 50% reduction potentially costing less than 1%.
• Corporate climate advocacy is largely misaligned with the Paris Agreement, with 95% of companies assessed by InfluenceMap in 2021 sending mixed signals or being misaligned.
• If current progress remains too slow, governments may need to resort to drastic measures, including hard technology bans, massive investments in carbon removal, or geoengineering solutions like aerosol scattering.

APA

World Economic Forum (2024). Bold Measures to Close the Climate Action Gap: A Call for Systemic Change by Governments and Corporations. https://www3.weforum.org/docs/WEF_Bold_Measures_to_Close_the_Climate_Action_Gap_2024.pdf

Chicago

World Economic Forum. Bold Measures to Close the Climate Action Gap: A Call for Systemic Change by Governments and Corporations. 2024. https://www3.weforum.org/docs/WEF_Bold_Measures_to_Close_the_Climate_Action_Gap_2024.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=Bold Measures to Close the Climate Action Gap: A Call for Systemic Change by Governments and Corporations |date=January 2024 |url=https://www3.weforum.org/docs/WEF_Bold_Measures_to_Close_the_Climate_Action_Gap_2024.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2024bold, author = {{World Economic Forum}}, title = {{Bold Measures to Close the Climate Action Gap: A Call for Systemic Change by Governments and Corporations}}, institution = {World Economic Forum}, year = {2024}, month = jan, url = {https://www3.weforum.org/docs/WEF_Bold_Measures_to_Close_the_Climate_Action_Gap_2024.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }