The Net-Zero Challenge: Global Climate Action at a Crossroads (Part 1)

The document finds that global greenhouse gas emissions continue to rise despite the Paris Agreement, with only 67 countries committing to net-zero goals and a minority of corporations providing full emissions disclosures. It highlights a gap between high-level ambitions and the implementation of robust policy frameworks, noting that short-term financial pressures often override long-term decarbonization goals for investors and CEOs. The paper calls for cohesive action, including carbon pricing and mandatory disclosure standards, to avoid catastrophic economic and environmental impacts.

• Global greenhouse gas emissions are continuing to rise, increasing by 1.5% per year over the last decade, reaching 55.3 gigatonnes of CO2 equivalent in 2018. To limit global warming to 1.5°C, a reduction of approximately 5% per annum is required.
• Government commitments to net-zero emissions are insufficient, with only 67 of the UN's 193 member states having such an ambition, representing less than 15% of global emissions. Furthermore, only seven of these countries have implemented the sector-level targets and policy frameworks necessary to realistically achieve these reductions.
• Corporate climate action is limited and lacks transparency. Among approximately 7,000 companies reporting to the Carbon Disclosure Project (CDP), only one third provide full disclosure, one quarter set emission reduction targets, and only one in eight achieve year-on-year reductions.
• Most corporate emission targets are inadequate compared to the Paris Agreement requirements. Approximately 65% of targets reported to CDP are short-term (five years or less), and both short- and long-term targets average only half of the reductions needed for a 1.5°C scenario.
• Investor pressure for decarbonization is hindered by a prevailing focus on short-term financial returns. While initiatives like Climate Action 100+ and the Net-Zero Asset Owner Alliance exist, CEOs report that the demand for immediate returns outweighs long-term climate risk management.
• Public concern for climate change remains low globally, with only 16% of adults ranking it as a top three societal concern. In many emerging economies, other environmental issues such as air pollution and deforestation are prioritized over greenhouse gas emissions.
• The economic cost of inaction is projected to be severe, with an estimated 30% reduction in global GDP per capita by 2100 if warming remains unchecked, compared to an 8% reduction if warming is limited to 1.5°C.

APA

World Economic Forum (2019). The Net-Zero Challenge: Global Climate Action at a Crossroads (Part 1). http://www3.weforum.org/docs/WEF_The_Net_Zero_Challenge_Part1.pdf

Chicago

World Economic Forum. The Net-Zero Challenge: Global Climate Action at a Crossroads (Part 1). 2019. http://www3.weforum.org/docs/WEF_The_Net_Zero_Challenge_Part1.pdf.

Wikipedia

{{cite report |author=World Economic Forum |title=The Net-Zero Challenge: Global Climate Action at a Crossroads (Part 1) |date=December 2019 |url=http://www3.weforum.org/docs/WEF_The_Net_Zero_Challenge_Part1.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{worldeconomicforum2019netzero, author = {{World Economic Forum}}, title = {{The Net-Zero Challenge: Global Climate Action at a Crossroads (Part 1)}}, institution = {World Economic Forum}, year = {2019}, month = dec, url = {http://www3.weforum.org/docs/WEF_The_Net_Zero_Challenge_Part1.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }