What is Net Zero?
Net zero refers to the state where the amount of greenhouse gas emission equals the amount of greenhouse gas emissions removed from the atmosphere. This can be achieved through carbon reduction, offsets, and removal.
Under the Paris Agreement, signed in 2015, 193 parties - 192 countries and the EU- pledged to keep the global temperature rise “well below” 1.5°C to avoid catastrophic consequences of climate change. All remaining emissions must be balanced by sequestering CO2 from the atmosphere to reach net zero by 2050.
All net-zero pledges must align with the Paris Agreement. Beyond national targets, companies and other organizations can also contribute to the global effort by establishing goals of their own.
Nation
Countries adopting net zero in national laws or official documents.
Non-State Actors
Local Governments
Carbon Neutrality Coalition (CNC): A global alliance of local governments aimed at enhancing climate action worldwide.
Financial Institutions
Net Zero Asset Owner Alliance: An international group of institutional investors managing assets totaling over $4 trillion, committing to carbon neutrality for the investment portfolios they oversee by 2050.
Cities
Cities Climate Leadership Group (C40): Committing to achieve carbon neutrality for new buildings by 2030 and pushing for carbon neutrality in existing buildings by 2050.
Corporations
Science-Based Targets Initiative (SBTi): Enabling companies to establish and implement net zero goals in line with the Paris Agreement's 1.5-degree target through science-based greenhouse gas emissions reductions.
