Policy Incentives for Zero Emissions | We Don't Have Time & Race to Zero

A groundswell of voluntary climate action by 12,500+ companies, financial institutions, cities, regions, and other actors in the #RaceToZero campaign has proven that non-party stakeholders are ready and willing to mobilise solutions for climate action across all economies and societies, in line with a 1.5°C future. Over 90% of the economy is covered by net zero targets. Governments and non-party stakeholders are also aligning behind collective climate milestones by 2030, and a number of international regulatory initiatives are proliferating net zero policy around the globe.

However, the Global Stocktake (GST) Synthesis Report highlights that progress is too slow, and rapid emissions reductions are needed urgently. The greatest progress is being made when voluntary action is accelerated by strong net zero policies and regulation. A collaborative approach is needed to urgently scale up implementation, and provide policy incentives for a just transition to net zero.

In response to the GST, including through the next round of updated Nationally Determined Contributions in 2025, we need to build from the groundswell of voluntary action, to scale up implementation through policy incentives for zero emissions.