From pledges to delivery: the Taskforce on Net Zero Policy’s COP30 report

Ten years ago, the Paris Climate Agreement united the world behind a simple but profound goal: to limit global warming to 1.5°C. Current media reporting might give you the impression that governments around the world are stepping back from introducing policies aligned with that agreement – but that’s not a true picture, as the Taskforce on Net Zero Policy has found.

A decade on from Paris, we gathered in Belém, Brazil for COP30, at a pivotal moment. The Taskforce on Net Zero Policy’s new report, “Policy Matters: From Pledges to Delivery – A Decade After Paris,” published at the summit, is not just a stocktake, but a practical guide for the road ahead. The PRI acts as the secretariat of this initiative. I welcome its findings and applaud the clarity it brings to the net zero transition.

Launched at the Spanish and Australian Pavilions at COP30, and in the Financial Times and FT Sustainable Views, the world is taking note of its findings. As the Taskforce’s Co-Chair, Helena Viñes Fiestas puts it, “this is not the moment for despondency” as we urge the world to redouble its efforts to deliver on the spirit of the Paris Agreement.

A decade of transformation, and new realities

The world’s climate policy landscape has been transformed beyond recognition by the promises made in Paris a decade ago. The number of targeted net zero regulations in G20 countries has tripled since 2020. Over 1,000 different policy instruments are now steering companies and financial institutions towards credible net zero pathways. Two thirds of the Forbes Global 2000 have made net zero pledges, and over 60% of global GDP is covered by jurisdictions adopting ISSB-aligned disclosure standards. These are not just numbers. They represent real momentum, and real change.

Yet, as the report makes clear, progress has not been uniform. The centre of gravity for climate policy is shifting southward, towards Asia Pacific and the Global South, where innovation and ambition are accelerating the global agenda.

Brazil’s Ecological Transformation Plan, for example, is mobilising US$215 billion in green investment, to target nature-based solutions, industry, mobility and energy. Australia’s Sector Pathways Review provides detailed decarbonisation roadmaps for six major sectors. Nearly 100 countries, including China, Barbados, Nepal, Nigeria and Singapore, have committed to economy-wide targets covering all greenhouse gases.

From fatigue to delivery: the policy imperative

In contrast to the pessimistic narrative of climate fatigue and policy rollback, the Taskforce finds that policy development across the world has continued since COP29. But the message is clear: regulators and policy makers must act in partnership and with greater speed. Stabilising global warming to 1.5ºC above 1990 levels remains within long-term reach, even if temporarily it may be exceeded. Governments need to act decisively to accelerate and better coordinate action to enable companies and financial institutions to deliver on the transition.

What does the report call for?

The Taskforce’s recommendations are refreshingly practical: 

• Integrated, granular policy frameworks that enable transition planning by companies and financial institutions in line with transparent, economy-wide net zero goals and interim climate targets;
• Resilience-focused policies that embed adaptation, nature restoration and a just transition as core elements, especially as physical risks escalate;
• Policies to support high-integrity carbon credit markets through rules on generation, exchange, and use to scale carbon removal and enhance safeguards and opportunities for host countries;
• Enhanced accountability and transparency, including mandatory disclosures, third-party verification and stronger governance.

The report also highlights the critical role of national governments in setting and implementing targets, through Nationally Determined Contributions (NDCs), national adaptation plans and National Biodiversity Strategies and Action Plans (NBSAPs). Despite progress, policy signals remain too fragmented, and companies are increasingly caught between intensifying climate litigation and a rapidly expanding sphere of climate policymaking and regulation.

Integrity, accountability and the road ahead

Climate litigation has surged by 250% since 2017, holding companies and governments to account and driving more robust legal and regulatory frameworks. Mandatory climate disclosures and governance reforms are expanding, with California’s Climate Accountability Laws and South Africa’s King IV Code setting global benchmarks.

The report doesn’t shy away from the challenges we continue to face. Lobbying by fossil fuel interests has intensified, with clear evidence it has had an impact on policy. The Taskforce calls for greater transparency and disclosure of lobbying practices, especially by trade associations.

And as we face the reality of a temporary overshoot of the 1.5°C target, the report underscores the urgency of integrating resilience, nature and climate mitigation into coherent policy and investment strategies. Carbon dioxide removals, be those nature-based or engineered, are essential tools for reaching net zero. Governments are urged to support high-integrity, high-durability removals and integrate them into national and international frameworks.

Looking to COP31 and beyond

The Taskforce identifies three priorities for the road to COP31: 

1. Assess the effectiveness of key policies and tools, drawing lessons from implementation to improve design and competitiveness.

2. Foster learning and collaboration across jurisdictions, enhancing interoperability and facilitating cross-border financial flows.

3. Analyse coherence between sustainable finance and real economy measures, ensuring that policy frameworks drive real decarbonisation and resilience.

At the PRI, we see this report as a timely and necessary push to turn commitment into action. As Laurence Tubiana, CEO of the European Climate Foundation, reminds us: “We cannot solve tomorrow’s problems with yesterday’s tools. This report brings fresh thinking and systemic insight, which is exactly what we need to accelerate the transition and rethink our economic models.”

A call to action

Ten years after signing the Paris climate accords, clean energy growth, policy innovation and widespread adoption of net zero targets are fundamentally reshaping global energy trends. But this is no time to slow down. COP30 in Brazil provides a vital opportunity both to put the Paris Agreement back on track and chart a credible path to mobilising the US$1.3 trillion needed annually in climate finance by 2035.

The work goes on, and at the PRI, we remain committed to supporting our signatories, policy makers and partners in delivering the net zero transition. The Taskforce’s report is a powerful reminder that, together, we have the tools, the knowledge, and the resolve to move from pledges to delivery.

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