How Is KR 7.1 Tracking?
Globally, commitments are off track to reach the top-line goal for a livable planet: net zero by 2050, or by 2060 in countries defined as emerging economies, including China and Russia.*
As recently as 2018, none of the top-emitting nations had a net zero commitment in place. Today, following the European Union’s lead and making marked progress of their own, all of the top five have net zero pledges. China, the U.S., the EU, and Russia have achieved our Commitments KR, though Russia’s commitment seems dubious at best.
In the U.S., the Inflation Reduction Act targets a 40 percent emissions cut by 2030. Additional measures are needed to reach the 50 percent reduction that aligns with net zero by 2050.
China has pledged to begin to cut back on coal production in 2026 and to reach net zero by 2060. Given the country’s impact as the world’s largest emitter, this progress needs to be fast-tracked. Meanwhile, India’s commitment to net zero by 2070 falls short of the needed urgency.
*The International Monetary Fund differentiates between advanced and emerging economies here. https://www.imf.org/en/Publications/WEO/weo-database/2023/April/groups-and-aggregates