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The December 2023 update finds that global warming projections have stalled, with current policies leading to 2.7°C of warming by 2100. Even the most optimistic scenario, including all announced targets, results in 1.8°C, exceeding the 1.5°C Paris Agreement goal. The report highlights a growing implementation gap and warns that reliance on carbon capture and storage (CCS), e-fuels, and carbon offsets are 'false solutions' that delay necessary deep emission cuts. It urges governments to submit 1.5°C-aligned 2035 targets by February 2025 and to commit to a complete phase-out of fossil fuels.

The Climate Action Tracker identifies a 'credibility gap' where current policies lead to 2.7°C of warming, while even the fulfillment of all 2030 targets would result in 2.4°C. Despite 90% of global emissions being covered by net zero targets, only 6% are rated as 'acceptable', and no analyzed country has sufficient short-term policies to reach its net zero goal. The report highlights the continued expansion of coal and natural gas as primary drivers of this failure.

The report finds that current G20 commitments put the world on a trajectory for 2.4°C of warming by 2100. While announced but non-formalised pledges could lower this to 2.1°C, only an 'enhanced ambition' scenario—where all G20 members align 2030 targets with 1.5°C pathways and commit to mid-century net zero—could limit warming to 1.7°C. The authors argue that G20 countries, accounting for 75% of global emissions, are uniquely positioned to close three-quarters of the temperature gap, provided they accelerate near-term action and developed nations ramp up financial support to developing countries.

One year after the Paris Agreement's adoption, the Climate Action Tracker (CAT) finds that national climate policies have made little progress. If NDCs are fully implemented, global warming by 2100 is estimated at 2.8°C, while current policies would lead to 3.6°C. A significant emissions gap remains for 2025 and 2030. The report highlights specific national trajectories, noting that most assessed NDCs are inadequate or medium in ambition, with particular concerns regarding the US, Russia, and Saudi Arabia, while noting positive renewable energy growth in India.