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Understanding countries’ net-zero emissions targets

Author

Listed:
  • Sirini Jeudy-Hugo

    (OECD)

  • Luca Lo Re

    (International Energy Agency)

  • Chiara Falduto

    (OECD)

Abstract

This paper analyses net-zero emissions targets adopted in law, proposed in legislation, or reflected in policy documents in 51 countries and the EU to better understand their characteristics, similarities and differences. It examines countries’ experiences with translating net-zero targets into near-term plans and analyses four case studies to show how countries develop and implement different pathways to net-zero. This paper also explores the potential role and associated risks, both for individual countries and globally, of using international carbon markets to help achieve countries’ net-zero targets. The paper concludes that countries are adopting diverse approaches to their net-zero targets and many details are currently unclear, including the balance between emission reductions, removals and the use of international carbon markets in reaching countries’ net-zero targets, and how this may change over the next few decades. The paper concludes that greater clarity on the scope, coverage and detail, in particular how countries plan to meet their net-zero commitments, is important to improve understanding of countries’ net-zero targets, how they interact with each other, and their overall implications for achieving the global temperature goal of the Paris Agreement.

Suggested Citation

  • Sirini Jeudy-Hugo & Luca Lo Re & Chiara Falduto, 2021. "Understanding countries’ net-zero emissions targets," OECD/IEA Climate Change Expert Group Papers 2021/03, OECD Publishing.
  • Handle: RePEc:oec:envaab:2021/03-en
    DOI: 10.1787/8d25a20c-en
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    Cited by:

    1. Altunbaş, Yener & Khan, Atiqur & Thornton, John, 2023. "Do M&As impact firm carbon intensity?11The views expressed in this paper are those of the authors and should not be attributed to the institutions with which they are affiliated.," Energy Economics, Elsevier, vol. 128(C).
    2. Filippo Maria D’Arcangelo & Ilai Levin & Alessia Pagani & Mauro Pisu & Åsa Johansson, 2022. "A framework to decarbonise the economy," OECD Economic Policy Papers 31, OECD Publishing.
    3. Maktabifard, Mojtaba & Al-Hazmi, Hussein E. & Szulc, Paulina & Mousavizadegan, Mohammad & Xu, Xianbao & Zaborowska, Ewa & Li, Xiang & Mąkinia, Jacek, 2023. "Net-zero carbon condition in wastewater treatment plants: A systematic review of mitigation strategies and challenges," Renewable and Sustainable Energy Reviews, Elsevier, vol. 185(C).
    4. Yener Altunbas & Xiaoxi Qu & John Thornton, 2024. "Modelling Monetary and Fiscal Policy to Achieve Climate Goals," Working Papers 310, Red Nacional de Investigadores en Economía (RedNIE).

    More about this item

    Keywords

    carbon markets; Climate change; LT-LEDS; NDCs; net-zero; Paris Agreement;
    All these keywords.

    JEL classification:

    • Q54 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Climate; Natural Disasters and their Management; Global Warming
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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