49% of world’s GDP now covered by net-zero targets, study says

(EurActiv, 18 Feb 2020) Just under half of the world’s annual GDP is now covered by nations, regions and cities that are legislating for a net-zero emissions target, a new study has revealed. EURACTIV’s media partner edie.net reports.

The latest analysis from the Energy and Climate Intelligence Unit (ECIU), a London-based think-tank, has found that 49% of GDP, representing more than $39trn, is now covered by regions with an actual or intended net-zero target.

A total of 121 nations have put mechanisms in place to deliver net-zero emissions in timeframes that are aligned to the calls of the Intergovernmental Panel on Climate Change’s (IPCC) landmark report in 2018.

The IPCC Special Report warns that the world is already 1C warmer than pre-industrial levels, and that an increase to 2C would significantly worsen the risks of drought, floods, extreme heat and poverty for hundreds of millions of people. The report predicts that if the world can become carbon-neutral by 2047, we will have a 66% chance of meeting the most ambitious end of the Paris goals.