There is an assumption that achieving a 1.5°C threshold for global warming and a target of net zero emissions by 2050 are feasible if only we did more. The evidence and the reality, based on the outcomes of the last two international climate change meetings under the Paris Agreement 2015, tell us that we are a long way from that.

In this briefing, we consider the financing steps required to fund a 2050 net zero outcome and look objectively at the impact on global net zero ambitions of a second withdrawal of the United States from the Paris Agreement.

Introduction

The Conference of the Parties ( COP ), meeting as the Parties to the Paris Agreement, took place in Dubai in late 2023 ( COP28 ). It took stock of the progress made by the Paris Agreement and identified the steps needed to

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