The world remains far off track to meet internationally-agreed climate change goals, despite action being taken in many areas. The Nationally Determined Contributions that countries have put forward in the UN climate change negotiations imply a lower emissions trajectory now than they did before, and most countries have committed to achieving net zero emissions by around the middle century, as have many businesses. Yet, global emissions, which must be halved this decade to limit temperature rise to 1.5°C, are still increasing. The energy crisis and threat of a global food crisis that the world now faces underline the equal urgency of increasing the affordability, accessibility, resilience, and security of supply of humanity’s most essential commodities and services. Transitions to sustainability can reduce the likelihood of such crises occurring in future.

International collaboration will be critical to success, given the global scale and fast pace of change required. Action by governments and businesses individually is necessary, but not sufficient. Well-targeted international collaboration can make low carbon transitions faster, less difficult, and lower cost. By aligning and coordinating actions internationally, countries and businesses can accelerate innovation, create stronger signals for investment and larger economies of scale, and establish level playing fields where needed to ensure that competition is a driver of the transition, and not a brake. International assistance, finance, and the sharing of best practice can support widespread adoption of effective policies and available technologies. International infrastructure can enable cross-border flows of clean energy. Without international collaboration, the transition to net zero global emissions could be delayed by decades.