Key enablers: technology, finance and capacity building
Fifteen out of 17 LTS we analysed acknowledge the need for R&D in key technologies crucial for their long-term transformations, and many explicitly identify it as a priority and international cooperation area. While most G20 members acknowledge the role of climate finance, only six of the 17 we analysed include quantitative estimates in their LTS. We also identify a further lack of details on how adequate climate finance will be mobilised for their long-term transformations. Only five G20 members refer to their existing commitments or mention their intention to provide international climate finance.
Sixteen of the 17 LTS present a net zero target. Twelve of them target net zero by 2050, whereas Germany aims for 2045, China and Indonesia 2060 and India 2070. The UK is the only G20 member to cover emissions from international aviation and shipping in its net zero target.
All G20 countries we analysed have sectoral decarbonisation targets or plans in their LTS. Most countries prioritise such plans for the power, buildings, agriculture, industry, and transport sectors, and fewer countries prioritise the waste sector.
While 16 G20 members refer to renewable energy as a key part of their decarbonisation strategies, only a few provide specific targets. Most G20 members also consider hydrogen a key decarbonisation opportunity, with applications in industry, transport, refining, and power sectors
Fossil fuel phase out
While several G20 members mention plans to reduce their dependence on fossil fuels gradually, France is the only G20 member to commit to phasing out fossil gas and oil exploration on its own territory in its LTS.
The G20 countries we assessed aim to reduce on average 72-81% of their 2019 emissions by 2050. To achieve net zero, these residual emissions must be offset with CDR, either through nature-based or engineered methods. Ten of the 17 LTS provide assumptions on nature-based or engineered CDR.