This edition of the Climate Transparency Report provides emissions projections and data for the current year, as well as analysis of COVID-19 responses, stimulus measures, and recommendations for a greener recovery. It unpacks recent developments and longer-term trends, providing key insights into where and how to advance climate action.
Many G20 countries are lacking effective targets and policies in key sectors. Progress in the transport, building, and industry sectors is lagging and many G20 members are still losing tree cover, diminishing critical carbon sinks.
There are clear policy benchmarks to fill the gaps.
- Fossil fuel subsidies should be phased out by 2025: Despite political commitments to rationalise and phase out inefficient fossil fuel subsidies, G20 countries provided USD 130bn in subsidies to fossil fuels in 2019, up from USD 117bn in 2018.
- The G20 can use modal shifting and fuel switching to decarbonise transport: Only Canada, France, Japan, and the UK have set targets for fossil fuel car phase-out (the UK’s target is 1.5°C compatible). No G20 members have policies in place to reduce absolute emissions from freight or long-term strategies to shift transport demand to low- or zero-emissions alternatives.
- Decarbonising industry requires greater efficiency and innovation: Most G20 countries do not score highly on industry efficiency policies. Apart from Italy, Japan, Germany, and India, most G20 countries do not have extensive energy efficiency policies in place for industry. Six G20 countries now have national hydrogen strategies.
- (Net) zero deforestation targets: No G20 countries have targets for reaching zero deforestation by the 2020s (1.5°C compatible), although China, the EU, and Mexico have targets for net-zero deforestation. Australia, France, and Canada have no policies in place.