Adopted by 196 countries after it was unveiled in 2015, the landmark Paris Agreement is an international treaty that aims to tackle climate change. In its own words, it strives to keep "the increase in the global average temperature to well below 2°C above pre-industrial levels" and "limit the temperature increase to 1.5°C above pre-industrial levels". 

Carbon emissions must reach net zero by 2050 to achieve this and avert climate catastrophe. Every five years, the accord requires each government to submit an updated Nationally Determined Contribution (NDC) plan outlining its measures to cut emissions and adapt to climate impacts.

The first Global Stocktake, which evaluates each nation's latest NDC, will be published ahead of the 2023 UN Climate Change Conference (COP28). Until then, read on to discover the progress 30 key nations are making in reaching their carbon-neutral goals today, with ratings based on insights from the Climate Action Tracker (CAT) and the Climate Change Performance Index (CCPI). All dollar amounts in US dollars.

Argentina, which has pledged to be carbon neutral by 2050, receives a "Low" rating in the CCPI index. However, CAT deems its climate change mitigation efforts "Critically Insufficient".

While there are some positives, including a plan to ban sales of internal combustion engines from 2041 onwards, the Latin American nation scores particularly poorly for its failure to embrace renewables.

Fossil fuels continue to dominate its energy policies, and there are reportedly plans in the pipeline to start offshore oil exploration and ramp up fracking. Additionally, little is being done to reduce the methane emissions from the country's huge cattle industry.

As of November 2022, 140 countries had pledged to reach net zero. Mexico is the only G20 nation yet to make that commitment.

According to CAT, Mexico's climate policies are going backwards. Its most recent NDC aims for a 35% reduction in emissions by 2030, up from the 22% promised in the previous NDC.

Yet the baseline against which targets are defined has also been bumped up, resulting in higher emissions and what is effectively a breach of the Paris Agreement. As a result, CAT rates the country's climate action as "Critically Insufficient".

Russia has pledged to reach net zero by 2060, although it's not doing much to achieve this. CAT has given Russia a "Critically Insufficient" rating, while the CCPI has placed it 59th out of the 63 countries it ranks.

As of 2020, only 3% of the country's energy came from renewable sources, while its Energy Strategy to 2035 plan focuses almost entirely on fossil fuels. 

Russia's invasion of Ukraine has reportedly yielded a carbon footprint equivalent to the entire emissions of Belgium.

However, one silver lining was highlighted in a recent report from the International Energy Agency (IEA). The war in Ukraine has helped to hasten the world's transition to net zero, with Western countries increasingly turning to renewables to replace Russian oil and natural gas.

As a low-lying island city-state, Singapore is particularly susceptible to climate change. But despite its lofty aim to reach carbon neutral status by 2050, the country's efforts to deal with global warming – or "global boiling" as UN Chief António Guterres has called it – are woefully inadequate according to CAT. 

This is in part due to the nation's geography. It lacks the space required for large solar plants and has few rivers that can be used to generate hydroelectricity. It's also not breezy enough for extensive wind power production.

The country also can't rely on its larger neighbours to export carbon-free power. Malaysia, for instance, banned overseas renewable electricity sales in October 2021 to meet its own net-zero requirements. However, the ban was lifted in May of this year.

CAT gives Singapore its lowest "Critically Insufficient" rating. The country doesn't feature in the CCPI.

The Canadian government may talk the talk, but when it comes to concrete climate change action it leaves a lot to be desired.

The UN recently slammed the nation for being "one of the largest expanders of fossil fuels last year", and it's little wonder.

As outlined by CAT, Canada approved a major oil and gas project in 2022, continues to support the controversial Trans Mountain pipeline, and has also been busily exporting liquefied natural gas (LNG) to Europe.

With doubts over whether the country can reach net zero by 2050, CAT has graded its efforts "Highly Insufficient", while the CCPI rates its performance as "Very Low".

Despite being the world leader in renewable energy, China has garnered the same dismal CAT and CCPI ratings as Canada.

Although the People's Republic generates more solar power than the rest of the world combined – as well as topping the list for wind power – it also burns more than half the world's coal and its fossil fuel emissions remain sky-high, as highlighted by CAT.

The CCPI is just as critical, suggesting that China's long-term carbon reduction policies aren't good enough. At this rate, the country's chances of reaching its goals of peak carbon emission by 2030 and net zero status by 2060 look very slim.

The Indian government has committed to achieving net zero by 2070 and its progress in expanding the use of renewables is encouraging, particularly in terms of solar energy and green hydrogen. The nation is also on track to meet its 2030 emissions targets, which has helped it earn a "High" rating in the CCPI.

However, India is ramping up coal production and LNG imports. This has led to a more negative rating from CAT, which has deemed its climate action efforts "Highly Insufficient".

Indonesia is failing to exploit its enormous potential for solar, wind, and other renewable energy sources.

Coal remains the nation's number one export and source of electricity, though efforts are being made to phase out the polluting fuel. However, details on how the government will do this are scant. Continued large-scale deforestation is also hampering the nation's efforts to reach net zero by 2050.

For these reasons, CAT gives Indonesia a "Highly Insufficient" rating while the CCPI is more forgiving, awarding the country a "Medium" score.

CAT doesn't cover Malaysia but the CCPI does – and according to the experts who compiled the index, the Southeast Asian nation has a long way to go to reach carbon neutrality by 2050, which it first committed to in 2021.

Malaysia has launched a renewable energy roadmap and even barred exports of renewables for a while, yet many policies are still to be implemented. Deforestation and logging have continued, with the country placing too much emphasis on contentious hydro projects.

Moreover, oil and natural gas are still massively important to the  Malaysian economy. As a result, it's rated "Very Low" for its efforts to reach net zero.

New Zealand's climate change mitigation efforts are rated "Highly Insufficient" by CAT and "Medium" by the CCPI.

While the nation's pledge to get to net zero by 2050 is enshrined in law, the legislation omits methane emissions from New Zealand's agricultural sector, which account for between 40% and 50% of its total emissions.

While the government has prohibited new offshore oil and natural gas exploration, neither onshore exploration nor coal mining is banned. It's hardly surprising that climate protests have reached fever pitch in the country.

As one of the world's leading producers and exporters of oil and natural gas, Saudi Arabia has the highest per capita greenhouse gas emissions among the G20. It's heavily reliant on fossil fuels, which continue to power its economy despite the government's attempts to diversify.

The nation's latest NDC has set ambitious targets for reducing its emissions but they still fall way short, with the CCPI stating they aren't consistent with the Paris Agreement’s 1.5°C limit.

As such, Saudi Arabia is rated "Very Low" on the index, while CAT assesses the country's progress on achieving net zero as "Highly Insufficient".

Australia's climate action has been rated "Insufficient" by CAT and "Very Low" by the CCPI. Far more serious on the matter than his Liberal predecessor, Labor Prime Minister Anthony Albanese has vowed to get the country out of the climate "naughty corner".

Albanese has introduced more ambitious emission reduction targets, paving the way for carbon neutrality by 2050. The targets were enshrined in law last year.

However, fossil fuel projects continue to have government support, and there's no real plan to phase out coal mining and natural gas extraction. This means it's unlikely Australia will meet its 2050 goal.

Brazil's climate action has been rated "Insufficient" by CAT and "Low" by the CCPI.

This is likely to change following the election of left-wing President Luiz Inácio Lula da Silva last October, who's far more committed to the country's green transition than his climate change-denying predecessor, Jair Bolsonaro.

Lula is planning to set more ambitious climate targets to achieve carbon neutrality by 2050, while the deforestation of the Amazon is plummeting under his watch.

Germany plans to cut greenhouse gas emissions by 65% compared to 1990 levels by 2030. It also wants to achieve net zero by 2045, with both goals notably more ambitious than those of many other EU nations. 

Nonetheless, the three-party coalition governing Germany can't quite agree on the necessary action to take. A recent report from government climate advisors revealed the country is failing to reduce greenhouse gas emissions in the transport and building sectors and is unlikely to meet its 2030 and 2045 deadlines.

Unsurprisingly, CAT gives Germany an "Insufficient" rating, although its efforts are considered "High" by the CCPI.

Ireland is left out of CAT's rankings but has been included in the CCPI, landing a "Low" rating in the index.

The country, which aims to reach net zero by 2050, has put carbon budgets and emissions ceilings into law and is also planning to expand its offshore wind energy capacity.

So why the "Low" score? Ireland's use of coal in power generation has increased, extraction of peat for fuel continues, and the government remains supportive of intensive livestock farming.

Japan is striving to get to net zero by 2050 and achieve a 46% emissions reduction on 2013 levels by 2030. Despite this, it's received "Insufficient" and "Very Low" ratings.

Despite some positive moves such as new emissions targets for the steel and iron industry, concrete net-zero policies are still relatively few and far between. Moreover, Japan has attracted criticism for blocking G7 decarbonisation talks and pushing for increased investment in natural gas. The country also has no solid plan for phasing out coal, which it relies on for nearly one-third of its electricity generation.

The Philippines has yet to set a target for when it aims to reach net zero. However, the country's NDC promises to cut greenhouse gas emissions by 75% by 2030 (compared to 2010 levels), and it has a strong head start given its per capita emissions are already comparatively low.

The Philippines is making solid progress in its transition to green energy and is set to surpass Vietnam by 2030 to become Southeast Asia's leading renewables producer.

While the CCPI rates the country's efforts as "High", CAT has opted to give it an "Insufficient" rating. The nation remains reliant on coal, has plans to expand fossil gas, and is also looking at a "potential nuclear revival", according to CAT.

Officially Africa's top greenhouse gas emitter, South Africa is in the midst of a protracted energy crisis. This is making its green transition all the more challenging and could ultimately scupper its climate goals, according to the Council on Foreign Relations.

Aiming to attain net zero by 2050, South Africa is making positive progress with initiatives such as the Presidential Climate Commission and Just Energy Transition Partnership.

However, it continues to depend on coal and has no clear plan for phasing out fossil fuels. CAT deems South Africa's climate mitigation efforts to be "Insufficient", while the CCPI has given it a "Low" rating.

Switzerland's plan to achieve carbon neutrality by 2050 hit a setback in 2021 when voters rejected the amended Federal Act on the Reduction of Greenhouse Gas Emissions (CO2 Act), which aimed to slash emissions by 2030.

However, in 2023, the Swiss electorate backed the Climate and Innovation Act, which enshrines drastic carbon emissions cuts by 2050 into law.

Effective implementation of the legislation should boost Switzerland's ratings from both CAT and the CCPI, which are currently "Insufficient" and "Medium" respectively.

The United Arab Emirates is omitted from the CCPI but featured by CAT, with its climate action efforts deemed "Insufficient".

Currently one of the world's leading oil producers and exporters, it has recently launched two major solar energy products.

However, The Guardian reported in April that the country is planning a "huge oil and gas expansion", severely undermining its plan to reach net zero by 2050.

The government, which is hosting COP28 this winter, has also been criticised for appointing Dr Sultan Al Jaber, the CEO of the national oil company, as the event's president.

CAT has downgraded the UK for its climate change mitigation efforts, which are currently rated "Insufficient", a grade lower than the previous year. The country has also dropped four places in the CCPI ranking but still has a "High" rating.

In September, Rishi Sunak's Conservative government made a major U-turn and watered down several key climate change policies. Among the rollbacks were plans to phase out new petrol and diesel cars by 2030 and a ban on gas boilers by 2035. Experts have suggested Sunak's decision will likely delay the country's pledge to hit net zero by 2050.

Though some have seen the move as a bid to woo climate change-denying Tories, recent polls in the country show that Conservative voters are generally supportive of net zero.

The Biden administration's Bipartisan Infrastructure Law (2021) and Inflation Reduction Act (2022) have set the US on a path towards reducing greenhouse gas emissions to half of 2005's levels by 2030. The country also has a goal of attaining carbon neutrality by 2050.

But, according to both CAT and the CCPI, the nation that's historically the world's number one carbon emitter will need to take further action to achieve these goals. It isn't doing enough to phase out fossil fuels, as reflected by its "Very Low" CCPI rating. Its CAT score is less negative, deeming the country's climate action "Insufficient".

Neighbouring Austria isn't included in CAT's rankings but does feature in the CCPI, bagging a "Medium" rating for its mitigation efforts.

Austria is more ambitious than many other countries, having set a deadline of 2040 to reach carbon neutrality. But despite encouraging signs such as the introduction of carbon pricing and policies in favour of public transport, climate change legislation is still lacking, and the government has reportedly been toying with the idea of fracking to meet its energy needs.

France is only featured in the CCPI, which rates the nation's progress on climate change mitigation as "Medium".

However, that rating was worked out before President Emmanuel Macron unveiled his 50-point "ecological plan" in September, and the country's score will almost certainly be upgraded. 

The wide-ranging proposal pledges to reduce France's carbon emissions by 55% compared to 1990 levels by 2030 and terminating coal-fired power plants by 2027.

Spain is also omitted from CAT but features in the CCPI, which has rated the nation's climate change performance as "Medium".

While the country has been chastised for its continued use of fossil fuel subsidies, the CCPI praises the nation for its 2021 Climate Change and Energy Transition Law, which aims to cut emissions by 23% (compared to 1990 levels) by 2030. Spain has set a deadline of 2050 for reaching net zero.

More recently, the government has proposed upping the cut in emissions to 32% by 2030.

Denmark scores better than any other nation in this year's CCPI with its admirable "High" rating, though it's worth noting that the top three spots are vacant, and no featured country is rated "Very High". CAT doesn't rank the nation.

The CCPI praises Denmark for making significant progress in reducing carbon emissions by 70% (compared to 1990 levels) by 2030 and achieving net zero by 2045.

The recently introduced CO2 tax is regarded as particularly effective, although the Nordic nation still has more work to do to meet its goals.

The Netherlands aspires to reach net zero by 2050. It's making good progress, particularly in terms of renewables, with plans in place to substantially increase offshore wind power generation. Its efforts are rated “High” in the latest CCPI (the country isn't covered by CAT).

One issue is the nation's large agricultural industry, a major emitter of greenhouse gases. Reducing these emissions is all the more challenging because of strong opposition from Dutch farmers who have staged mass protests and have the support of a political party, the Farmer-Citizen Movement (BBB).

In March, BBB stormed to victory in the Senate election and is now the largest party in the Dutch parliament's upper house.

Portugal is on the way to bringing forward its net zero goal from 2050 to 2045. The European nation is making impressive progress with phasing out coal, expanding hydrogen, and bolstering public transport, while around 60% of its energy is currently derived from renewable sources.

However, there's room for improvement. The CCPI, which ranks Portugal's climate change performance as "High", has declared the country can still do more to end fossil fuel subsidies, expand sustainable agriculture, and shore up forest fire prevention. Portugal doesn't feature in CAT's ranking.

Sweden has work to do on minimising emissions from waste incineration and the transport sector and improving the energy efficiency of buildings. In other areas, it's performing well in its mission to achieve net zero by 2045.

The Scandinavian nation has a concrete plan to phase out coal in the iron ore and steel sector and has already embraced renewables.

Around half of the country's energy is currently generated from renewable sources, and although CAT doesn't cover the country, it enjoys a "High" rating in the latest CCPI rankings. 

Norway hasn't committed to a net zero target. That said, it still intends to slash its greenhouse gas emissions by at least 55% compared to 1990 levels by 2030 and up to 95% by 2050.

The country is a world leader in climate policy and the number one nation for electric vehicle (EV) adoption. However, its exploration and exports of oil and gas remain problematic, with plans to develop rather than phase out fossil fuels.

As such, CAT deems the country's climate mitigation efforts "Almost Sufficient" (rather than "Sufficient"), although the CCPI rates them as "High". 

The race to net zero has actually been won, with Bhutan becoming the first nation to achieve the feat in 2017.

In fact, the Himalayan kingdom has even gone so far as to become a carbon-negative country. Its emissions are offset by the nation's extensive forest coverage and have entered negative territory thanks to its generation and export of renewables.

Seven other countries have also attained net zero status: the Comoros, Gabon, Guyana, Madagascar, Niue, Panama, and Suriname. The Maldives is next in line to reach the impressive goal, which it's expected to hit by 2030. However, the ongoing performance of each of the countries will continue to be measured over the coming years.

Now find out which major countries are massively in debt in 2023