Less conversation, more action: How many countries have made pledges to get to net zero emissions?

5/18/21 8:00PM

This week the International Energy Agency put out a comprehensive report on the steps and actions needed for the world to get to net-zero emissions by 2050.

Among the many charts and hopeful projections about solar installations, electric vehicles, bio-energy and coal shutdowns one piece of data struck us as particularly important - which we've reproduced in the chart above. That is, for all of the countries that have been talking a big game on climate change, how many have actually already passed legislation to go for net-zero? The answer is only 10.

That was surprisingly low, but the good news is that more countries look set to follow. In fact, another 34 countries have pledged to shoot for net zero, even if it's not yet been enshrined legally. Overall the countries that have made some kind of pledge account for more than 70% of global CO2 emissions.

For more information on the specifics of how we get to net zero by 2050 we highly recommend checking out the full report from the International Energy Agency.

Tom Jones7h

The UAE’s OPEC exit will hit the group in the barrels

After just shy of 60 years in OPEC, its membership even predating its status as a nation-state, the United Arab Emirates yesterday announced its shocking departure from the oil production group, effective May 1, as the knock-on effects of the Iran war continue to play out across the Middle East and the energy landscape.

For context, the UAE produces the third-highest amount of oil in the group, per April data and OPEC’s latest set of annual statistics.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.