NET ZERO STOCKTAKE 2024

The Net Zero Stocktake 2024 reveals a consolidation of net zero targets across countries, cities, and companies, but highlights a critical gap in integrity. While national targets now cover 87% of global GHG emissions, fewer than 5% of non-state entities meet all minimum procedural and substantive integrity criteria. The report emphasizes that national targets often act as a 'ceiling' for subnational ambition, though some regions in countries like Australia and Japan have historically pushed national goals forward. It also notes that members of the Race to Zero campaign generally outperform non-members on integrity measures, although absolute performance remains low.

• Net zero target-setting has increased across non-state entities since the 2023 stocktake, with targets rising by 28% for states and regions, 8% for cities, and 23% for companies.
• National-level net zero targets now cover 87% of global greenhouse gas emissions, 93% of global GDP (PPP), and 88% of the global population.
• A significant proportion of major non-state entities still lack any form of mitigation target; over 40% of the 3,870 assessed subnational governments and companies have no identified emission reduction targets.
• There is a widespread lack of target integrity among non-state entities, with 5% or fewer of companies, states/regions, and cities meeting all minimum procedural and substantive integrity criteria.
• Non-state entities generally perform better on procedural criteria (such as formalizing targets and setting interim goals) but fail on substantive criteria, such as covering all greenhouse gases beyond CO2 or including Scope 3 emissions.
• Entities participating in the Race to Zero campaign demonstrate higher integrity levels than non-members, although overall performance for members remains low, with 10% or less meeting all criteria across all entity groups.
• In 14 major-emitting countries, national targets typically serve as a 'ceiling' for subnational ambition, though some regions in Australia, Germany, and India have set targets earlier than their national governments.
• Subnational governments in Australia and Japan may have influenced their respective national governments' decision to set net zero targets, illustrating an 'Ambition Loop' dynamic.
• Azerbaijan, the host of COP29, is a notable exception among major emitters as it lacks a national net zero target, with its latest NDC only committing to a 40% reduction by 2050 compared to 1990 levels.

APA

Smit, S., Hyslop, C., Lang, J., Hans, F., Kuramochi, T., Hale, T., Manya-Gutierrez, D. C., Schubert, S., Straub, S., Fraser, E., Dossi, F., Salsabila, N., Green, F., Hay, N., Hsu, A., & Smith, S. (2024). NET ZERO STOCKTAKE 2024. Net Zero Tracker. https://ca1-nzt.edcdn.com/Reports/Net_Zero_Stocktake_2024.pdf?v=1732639611

Chicago

Smit, Sybrig, Camilla Hyslop, John Lang, Frederic Hans, Takeshi Kuramochi, Thomas Hale, Diego Cristobal Manya-Gutierrez, et al. NET ZERO STOCKTAKE 2024. Net Zero Tracker, 2024. https://ca1-nzt.edcdn.com/Reports/Net_Zero_Stocktake_2024.pdf?v=1732639611.

Wikipedia

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BibTeX

@techreport{smit2024net, author = {Smit, Sybrig and Hyslop, Camilla and Lang, John and Hans, Frederic and Kuramochi, Takeshi and Hale, Thomas and Manya-Gutierrez, Diego Cristobal and Schubert, Sophia and Straub, Saskia and Fraser, Eve and Dossi, Federica and Salsabila, Nabila and Green, Frances and Hay, Nick and Hsu, Angel and Smith, Steve}, title = {{NET ZERO STOCKTAKE 2024}}, institution = {Net Zero Tracker}, year = {2024}, month = sep, url = {https://ca1-nzt.edcdn.com/Reports/Net_Zero_Stocktake_2024.pdf?v=1732639611}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }