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Race to Net Zero: Carbon Neutral Goals by Country

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The following content is sponsored by the National Public Utilities Council

Race to Net Zero Carbon Neutral Goals By Country

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Race to Net Zero: Carbon Neutral Goals by Country

This was originally posted on July 8, 2021, on Visual Capitalist.

The time to talk about net zero goals is running out, and the time to put them into action is well underway.

At the U.S. Climate Summit in April 2021, U.S. President Biden pressured countries to either speed up carbon neutral pledges, or commit to them in the first place.

It’s a follow-up to the Paris Agreement, which keeps signatories committed to reaching carbon neutrality in emissions in the second half of the 21st century. But 2050–2100 is a wide timeframe, and climate change is becoming both increasingly present and more dire.

So when are countries committed to reaching net zero carbon emissions, and how serious is their pledge? This infographic from the National Public Utilities Council highlights the world’s carbon neutral pledges.

The Timeline of Carbon Neutral Targets by Country

The first question is how quickly countries are trying to get to net zero.

137 countries have committed to carbon neutrality, as tracked by the Energy and Climate Intelligence Unit and confirmed by pledges to the Carbon Neutrality Coalition and recent policy statements by governments.

But the earlier the pledge, the better, and most of the commitments are centered around 2050.

CountryTarget Year
BhutanAchieved
SurinameAchieved
Uruguay2030
Finland2035
Austria2040
Iceland2040
Germany2045
Sweden2045
Afghanistan2050
Andorra2050
Angola2050
Antigua and Barbuda2050
Argentina2050
Armenia2050
Bahamas2050
Bangladesh2050
Barbados2050
Belgium2050
Belize2050
Benin2050
Brazil2050
Bulgaria2050
Burkina Faso2050
Burundi2050
Cabo Verde2050
Cambodia2050
Canada2050
Central African Republic2050
Chad2050
Chile2050
Colombia2050
Comoros2050
Cook Islands2050
Costa Rica2050
Croatia2050
Cyprus2050
Czechia2050
Democratic Republic of Congo2050
Denmark2050
Djibouti2050
Dominica2050
Dominican Republic2050
Ecuador2050
Eritrea2050
Estonia2050
Ethiopia2050
European Union2050
Fiji2050
France2050
Gambia2050
Greece2050
Grenada2050
Guinea2050
Guinea-Bissau2050
Guyana2050
Haiti2050
Hungary2050
Ireland2050
Italy2050
Jamaica2050
Japan2050
Kiribati2050
Laos2050
Latvia2050
Lebanon2050
Lesotho2050
Liberia2050
Lithuania2050
Luxembourg2050
Madagascar2050
Malawi2050
Maldives2050
Mali2050
Malta2050
Marshall Islands2050
Mauritania2050
Mauritius2050
Mexico2050
Micronesia2050
Monaco2050
Mozambique2050
Myanmar2050
Namibia2050
Nauru2050
Nepal2050
Netherlands2050
New Zealand2050
Nicaragua2050
Niger2050
Niue2050
Norway2050
Pakistan2050
Palau2050
Panama2050
Papua New Guinea2050
Paraguay2050
Peru2050
Portugal2050
Romania2050
Rwanda2050
Saint Kitts and Nevis2050
Saint Lucia2050
Saint Vincent and the Grenadines2050
Samoa2050
Sao Tome and Principe2050
Senegal2050
Seychelles2050
Sierra Leone2050
Slovakia2050
Slovenia2050
Solomon Islands2050
Somalia2050
South Africa2050
South Korea2050
South Sudan2050
Spain2050
Sudan2050
Switzerland2050
Tanzania2050
Timor-Leste2050
Togo2050
Tonga2050
Trinidad and Tobago2050
Tuvalu2050
U.S.2050
Uganda2050
United Kingdom2050
Uzbekistan2050
Vanuatu2050
Vatican City2050
Yemen2050
Zambia2050
China2060
Kazakhstan2060
Ukraine2060
Australia2050 – 2100
Singapore2050 – 2100

As far as early achievers go, Bhutan and Suriname are the only two countries that have achieved carbon neutrality and are actually carbon negative (removing more carbon than they emit). Uruguay’s 2030 target is the earliest to try and match that feat, followed by Europe’s Finland, Austria, Iceland, Germany, and Sweden, who are all targeting 2045 or earlier.

Over 90%, or 124 of the 137 countries tracked above, set a target of 2050 for reaching carbon neutrality. This is largely due to membership in the Carbon Neutrality Coalition, which asks member states to target 2050 for their goal but leaves commitment up to them.

Only five countries have net zero pledges set for after 2050, including Australia and Singapore, which haven’t set a firm target yet. Targeting 2060, in addition to Ukraine and Kazakhstan, is the world’s largest emitter, China. The country’s recent pledge is significant, since China accounts for an estimated 25% of global emissions.

In fact, according to the Climate Action Tracker, 73% of global emissions are currently covered by net zero targets.

How Seriously Are Countries Committing to Carbon Neutrality?

Setting a goal is perhaps the easiest step towards carbon neutrality. But the real challenge is in solidifying that goal and starting to make progress towards it. That’s why it’s important to consider how deeply committed each country’s carbon neutral pledge truly is.

The most rigid commitments are enshrined in law, followed by official government policy, though the latter can change alongside governments. Likewise, proposed legislation shows forward momentum in making pledges a reality, but proposals can take a long time to become enacted (or get derailed).

As it turns out, the vast majority of carbon neutral targets are only under discussion, with no formal action being taken to act on them.

CountryTarget Status
BhutanAchieved
SurinameAchieved
DenmarkLaw
FranceLaw
HungaryLaw
New ZealandLaw
SwedenLaw
United KingdomLaw
AndorraPolicy Document
AustraliaPolicy Document
AustriaPolicy Document
BrazilPolicy Document
ChinaPolicy Document
Costa RicaPolicy Document
FinlandPolicy Document
GermanyPolicy Document
IcelandPolicy Document
IrelandPolicy Document
JapanPolicy Document
KazakhstanPolicy Document
Marshall IslandsPolicy Document
NorwayPolicy Document
PanamaPolicy Document
ParaguayPolicy Document
PortugalPolicy Document
SloveniaPolicy Document
South AfricaPolicy Document
SwitzerlandPolicy Document
U.S.Policy Document
UkrainePolicy Document
UzbekistanPolicy Document
Vatican CityPolicy Document
CanadaProposed Legislation
ChileProposed Legislation
European UnionProposed Legislation
FijiProposed Legislation
South KoreaProposed Legislation
SpainProposed Legislation
AfghanistanUnder Discussion
AngolaUnder Discussion
Antigua and BarbudaUnder Discussion
ArgentinaUnder Discussion
ArmeniaUnder Discussion
BahamasUnder Discussion
BangladeshUnder Discussion
BarbadosUnder Discussion
BelgiumUnder Discussion
BelizeUnder Discussion
BeninUnder Discussion
BulgariaUnder Discussion
Burkina FasoUnder Discussion
BurundiUnder Discussion
Cabo VerdeUnder Discussion
CambodiaUnder Discussion
Central African RepublicUnder Discussion
ChadUnder Discussion
ColombiaUnder Discussion
ComorosUnder Discussion
Cook IslandsUnder Discussion
CroatiaUnder Discussion
CyprusUnder Discussion
CzechiaUnder Discussion
Democratic Republic of CongoUnder Discussion
DjiboutiUnder Discussion
DominicaUnder Discussion
Dominican RepublicUnder Discussion
EcuadorUnder Discussion
EritreaUnder Discussion
EstoniaUnder Discussion
EthiopiaUnder Discussion
GambiaUnder Discussion
GreeceUnder Discussion
GrenadaUnder Discussion
GuineaUnder Discussion
Guinea-BissauUnder Discussion
GuyanaUnder Discussion
HaitiUnder Discussion
ItalyUnder Discussion
JamaicaUnder Discussion
KiribatiUnder Discussion
LaosUnder Discussion
LatviaUnder Discussion
LebanonUnder Discussion
LesothoUnder Discussion
LiberiaUnder Discussion
LithuaniaUnder Discussion
LuxembourgUnder Discussion
MadagascarUnder Discussion
MalawiUnder Discussion
MaldivesUnder Discussion
MaliUnder Discussion
MaltaUnder Discussion
MauritaniaUnder Discussion
MauritiusUnder Discussion
MexicoUnder Discussion
MicronesiaUnder Discussion
MonacoUnder Discussion
MozambiqueUnder Discussion
MyanmarUnder Discussion
NamibiaUnder Discussion
NauruUnder Discussion
NepalUnder Discussion
NetherlandsUnder Discussion
NicaraguaUnder Discussion
NigerUnder Discussion
NiueUnder Discussion
PakistanUnder Discussion
PalauUnder Discussion
Papua New GuineaUnder Discussion
PeruUnder Discussion
RomaniaUnder Discussion
RwandaUnder Discussion
Saint Kitts and NevisUnder Discussion
Saint LuciaUnder Discussion
Saint Vincent and the GrenadinesUnder Discussion
SamoaUnder Discussion
Sao Tome and PrincipeUnder Discussion
SenegalUnder Discussion
SeychellesUnder Discussion
Sierra LeoneUnder Discussion
SingaporeUnder Discussion
SlovakiaUnder Discussion
Solomon IslandsUnder Discussion
SomaliaUnder Discussion
South SudanUnder Discussion
SudanUnder Discussion
TanzaniaUnder Discussion
Timor-LesteUnder Discussion
TogoUnder Discussion
TongaUnder Discussion
Trinidad and TobagoUnder Discussion
TuvaluUnder Discussion
UgandaUnder Discussion
UruguayUnder Discussion
VanuatuUnder Discussion
YemenUnder Discussion
ZambiaUnder Discussion

Uruguay’s 2030 target might be the earliest, but it is not yet set in stone. The earliest commitment actually enshrined in law is Sweden’s 2045 target.

Including Sweden, only six countries have passed their carbon neutral targets into law. They include Denmark, France, Hungary, New Zealand, and the UK.

An additional five countries have proposed legislation in the works, including Canada and South Korea, as well as the entirety of the EU.

Meanwhile, 24 countries have their climate targets set as official policy. They include Brazil, China, Germany and the U.S., some of the world’s largest emitters.

99 of the 137 pledges are only under discussion at this time, or more than 72%. That means that they have no official standing as of yet, and are harder to act on. But as time starts to pass, pressure on countries to act on their carbon neutral pledges is beginning to grow.

The National Public Utilities Council is a collaborative body of industry experts coming together to solve decarbonization challenges in the power sector and the proud sponsor of the Decarbonization Channel.

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Decarbonization

Visualized: Carbon Pricing Initiatives in North America

We map out all of the national and subnational carbon pricing initiatives in North America using data from the World Bank.

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Visualized: Carbon Pricing Initiatives in North America

Carbon pricing mechanisms are a vital component of an effective emissions reduction strategy. But these initiatives currently cover just 15% of total North American carbon emissions.

To discover which initiatives are currently contributing to this coverage, this graphic sponsored by the National Public Utilities Council maps out all of the national and subnational carbon pricing initiatives across North America using data from the World Bank.

Let’s begin by looking at types of carbon pricing.

Carbon Pricing Explained

Carbon pricing is a market-based policy tool that assigns a cost to carbon emissions, incentivizing reductions through the use of economic signals.

While there are several ways to go about carbon pricing, the most commonly used types of carbon pricing strategies include:

  • Emissions Trading Systems (ETS)
    ETS establishes a market for trading emissions allowances among companies. A cap on total emissions is set, and all companies receive tradable emission units. Those exceeding their limits can buy allowances from those with a surplus.
  • Carbon Taxes
    Carbon taxes impose a direct price on carbon emissions. Their goal is to disincentivize carbon-intensive activities, such as burning fossil fuels, by making them financially less attractive.

In 2022, carbon pricing strategies generated $5 billion in the U.S. and $8 billion in Canada. These funds were primarily allocated toward green investments and support for low-income households.

Carbon Pricing Initiatives By Country

The U.S. is currently the only country in North America without a national carbon pricing initiative. Both Canada and Mexico, on the other hand, have implemented federal ETS and carbon tax programs.

Beyond federal initiatives, many regions on the continent have also implemented or are considering their own carbon pricing initiatives. These subnational initiatives are listed in the table below:

RegionCarbon Pricing InitiativeStatus
🇨🇦 Alberta, CanadaETSImplemented, 2007
🇨🇦 British Columbia, Canada Carbon tax and ETS Implemented, 2008 and 2016
🇨🇦 Manitoba, CanadaCarbon tax and ETS Under Consideration
🇨🇦 New Brunswick, CanadaCarbon tax and ETS Implemented, 2020 and 2021
🇨🇦 Newfoundland and Labrador, CanadaCarbon tax and ETS Implemented, both 2019
🇨🇦 Northwest Territories, CanadaCarbon taxImplemented, 2019
🇨🇦 Nova Scotia, CanadaETSImplemented, 2019
🇨🇦 Ontario, CanadaETSImplemented, 2022
🇨🇦 Prince Edward Island, CanadaCarbon taxImplemented, 2019
🇨🇦 Quebec, CanadaETSImplemented, 2013
🇨🇦 Saskatchewan, CanadaETSImplemented, 2019
🇺🇸 California, U.S.A.ETSImplemented, 2012
🇺🇸 Hawaii, U.S.A.Carbon taxUnder Consideration
🇺🇸 Massachusetts, U.S.A.ETSImplemented, 2018
🇺🇸 New York, U.S.A.ETSUnder Consideration
🇺🇸 North Carolina, U.S.A.ETSUnder Consideration
🇺🇸 Oregon, U.S.A.ETSImplemented, 2021
🇺🇸 Pennsylvania, U.S.A.ETSUnder Consideration
🇺🇸 Regional Greenhouse Gas Initiative (RGGI)*ETSImplemented, 2009
🇺🇸 Washington, U.S.A.ETSImplemented, 2023
🇲🇽 Durango, Mexico Carbon taxImplemented, 2023
🇲🇽 Guanajuato, Mexico Carbon taxScheduled, 2023
🇲🇽 Jalisco, Mexico Carbon taxUnder Consideration
🇲🇽 Queretaro, Mexico Carbon taxImplemented, 2022
🇲🇽 State of Mexico, Mexico Carbon taxImplemented, 2022
🇲🇽 Yucatan, Mexico Carbon taxImplemented, 2022
🇲🇽 Zacatecas, Mexico Carbon taxImplemented, 2017

The RGGI was the first mandatory ETS initiative in the U.S. and applies to power plants in Connecticut, Delaware, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island, Vermont, and Virginia.

Since its inception, emissions in the RGGI region fell by more than 50%—twice as fast as the nation as a whole—and raised nearly $6 billion to invest in local communities.

Are All Carbon Pricing Initiatives Created Equal?

In the landscape of carbon pricing initiatives, one critical factor stands out—the price of carbon itself.

According to The High-Level Commission on Carbon Prices, achieving alignment between carbon pricing strategies and the Paris Agreement temperature target requires a price of US$40–80/tCO2 by 2020 and US$50–100/tCO2 by 2030.

Unfortunately, many North American initiatives fall short of these prices, especially in the U.S. and Mexico, where carbon prices reach as low as US$12/tCO2e. Conversely, most Canadian initiatives set a price of US$48/tCO2e.

It’s also important to note that the broader impact of these initiatives depends on a multitude of other factors, including the industries they cover, their flexibility in accommodating changing economic conditions, and the manner in which generated revenue is invested back into sustainable practices.

Within the balance of these various elements lies the potential to steer all industries—including the power sector—toward the necessary emissions reductions.

Learn more about how electric utilities and the power sector can lead on the path toward decarbonization here.

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Decarbonization

The 3 Building Blocks for a Decarbonized Power Sector

How can the U.S. achieve a 100% clean power sector? See the three key pillars of a decarbonized power sector in this infographic.

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decarbonized power sector

The 3 Building Blocks for a Decarbonized Power Sector

As part of the Paris Agreement, the U.S. has set goals to achieve a 50-52% reduction in emissions by 2030 and net-zero emissions by 2050.

To lay the foundation for these targets, the Biden Administration’s goal is to create a 100% clean power sector by 2035.

This infographic from the National Public Utilities Council shows why a clean power sector is essential for net-zero emissions and highlights the three building blocks needed to achieve it. This is part 2 of the Road to Net Zero series of infographics.

The State of U.S. Energy Use

Today, fossil fuels like oil and gas provide most of the energy used in the U.S. for transportation, heating, and industrial purposes.

For example, due to the prevalence of gasoline vehicles, petroleum accounts for 90% of the transportation sector’s energy consumption, with electricity making up less than 1% of the total.

Similarly, around 80% of the industrial sector’s energy needs are met with natural gas and petroleum. Meanwhile, the residential and commercial sectors use large amounts of natural gas for their space heating needs, along with electricity for other appliances.

With fossil fuels widespread in the U.S. energy mix, the fastest path to net-zero emissions is to electrify and decarbonize energy use in all sectors. This involves replacing technologies that use fossil fuels with those powered by electricity and a clean grid.

For instance, electric vehicles could transform the transportation sector’s energy consumption and reduce emissions. Additionally, electric heat pumps could replace oil and gas boilers in residential and commercial buildings.

However, for electrification to be effective in reducing emissions, decarbonizing the power sector and generating clean electricity is essential.

The Path to a Decarbonized Power Sector

Decarbonization calls for a transformation of the power sector, from one where fossil fuels generate 60% of total electricity to one dominated by clean energy and backed by an upgraded grid.

There are three foundational building blocks for the road to 100% clean electricity:

#1: Accelerate Clean Energy Deployment

With renewable energy now cheaper than fossil fuels, expanding solar- and wind-powered generation is key to replacing fossil fuels and reaching zero emissions.

According to Princeton University, for net-zero emissions by 2050, the U.S. needs to add more than 50 gigawatts of solar capacity annually from 2022 to 2035. That is significantly higher than the 13 gigawatts installed in 2021.

#2: Support Clean Energy with Grid Expansion

With the U.S. power grid aging, new high-voltage transmission capacity is essential for transporting electricity from remote solar and wind farms to centers of demand.

From 2013 to 2020, U.S. transmission capacity grew by just 1% annually. To align with the net-zero pathway, the pace of expansion needs to more than double through 2030.

Here’s how transmission expansion could affect U.S. greenhouse gas (GHG) emissions, as modeled by Princeton:

Transmission Expansion RateProjected GHG Emissions in 2030% Change in Emissions vs. 2021
1% per year4.6 billion tonnes-18%
1.5% per year4.0 billion tonnes-29%
2.3% per year3.8 billion tonnes-32%

Source: Princeton University – Zero Lab

With a 2.3% annual growth in transmission capacity, U.S. GHG emissions could achieve a 32% reduction from the 5.6 billion tonnes emitted in 2021.

#3: Invest in Nuclear Power and Battery Storage

The intermittent nature and low reliability of wind and solar power generation pose a challenge for the energy transition.

Battery storage systems and nuclear power can solve the intermittency problem by supplying clean electricity when wind and solar generation falls.

For example, storage systems can store excess solar power that is produced during sunny periods of the day, and supply it in the evening when solar generation dips. Meanwhile, nuclear power plants can supply electricity around the clock, acting as a clean baseload power source.

Towards a Carbon-free U.S. Economy

New renewable capacity, transmission expansion, and reliable backup sources are key to unlocking a carbon-free power sector.

Together, these three building blocks form the foundation for economy-wide emissions reduction and net-zero emissions by 2050.

Click here to learn more about how electric utilities and the power sector can lead on the path toward decarbonization.

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