A new study of government commitments to reach net-zero, found many lack credibility to completely stop their greenhouse gas emissions.
China and the US are ranked in the “lower” category. Australia, Brazil, India, South Africa and the UAE have “much lower” confidence.
“Achieving net zero is difficult, but just looking at the near term and taking the first steps is not enough. The hard steps in the long run need to be planned for today.”— Joeri Rogelj, the paper’s lead author and a professor of climate science at Imperial College London
Only New Zealand, the European Union and the UK ranked in the “higher” confidence category, and big challenges remain despite better progress towards net zero.
Our analysis on what “Peak Green” and the struggle to meet net-zero targets means for commodity investors: