The Compact of States and Regions has released its first-ever Disclosure Report. The Compact of States and Regions provides the first ever single, global account of greenhouse gas (GHG) reduction targets made by state and regional governments.
Currently the Compact has the support of 44 states and regions together representing 325 million people and over US$10.5 trillion in GDP – which is one eighth of the global economy. The targets in place will result in cumulative emission reductions of:
- 12.4 GtCO2e by 2030 (relative to ‘business as usual)– more than the combined GHG emissions of the US and EU, and greater than China’s emissions in 2012.
- 47.4 GtCO2e by 2050 – equal to total world GHG emissions in 2012.
In addition to these cumulative emissions savings, by 2050 Compact governments from both developed and developing nations will have reduced their collective emissions by almost 55% in absolute terms. The report also reveals both near and long term goals, with almost half of the governments having already set 2050 goals. A majority of these aim for reductions of more than 70% below base-year emissions.