Progress of major emitters towards climate targets | 2024 update

NewClimate Institute

The outcome of the first Global Stocktake — the mechanism aimed at assessing collective progress towards the Paris Agreement — called for countries that did not yet do so to strengthen their NDC 2030 targets before the end of 2024 to align with the climate goal of the Paris Agreement (UNFCCC, 2023). [...] These countries could use the next NDC ambition-raising The percentages are cycle to concretise the support needed to close the gap between their current calculated by comparing the full range of the policies and the conditional targets (Pauw et al., 2020). [...] In both NDC and current policies scenarios, we project that the emissions intensity of the economy will almost halve in many countries: Australia, Canada, the European Union, the Republic of Korea, the United Kingdom and the United States. [...] Although the Novo PAC assigned approximately 30% of its budget to energy transition and security, over 60% of that is earmarked to the oil and gas industries and will not directly contribute to the energy transition in the country. [...] The strategy maintains the target set in the 2008 National Renewable Energy Strategy of reaching 20% of the electricity generation mix from renewables (IEA, 2008) but postpones the deadline to 2022 and adds the target of 42% by 2035 (IRENA, 2018).