Norway has been ranked top in KPMG’s Net Zero Readiness Index.
The KPMG index compares the progress of countries in reducing greenhouse gas emissions and assesses their preparedness and ability to achieve Net Zero by 2050. Using 103 key drivers to achieving Net Zero, the top 25 performing countries and seven ‘countries to watch’ were identified by KPMG. Norway topped this year’s NZRI, partly due to private and public investment in renewable energy and electrified transport across the country. The UK is in overall second place, due in-part to legally-backed targets that have enabled the comparatively swift decarbonization of the country’s power generation sector.
The NZRI top 25 countries are:
2. United Kingdom
9. New Zealand
11. South Korea
14. United States of America
25. United Arab Emirates
The seven countries to watch were:
Mike Hayes, Global Head of Climate Change & Decarbonization at KPMG, commented:
“Over the past 18 months, we have witnessed a phenomenal and welcome rise in net zero and science-based targets commitments from the public and private sector and national Governments. As a result, we’re starting to see businesses take a more proactive approach to addressing their decarbonization objectives. The fundamental challenge for business however is how to move from making commitments to delivering them and stakeholders will want to see progress before too long. It is clear that the business community and political leaders are responding to the crisis, but there is clearly much more that could and should be done. KPMG’s Net Zero Readiness Index highlights the patchwork effect that we’re now starting to see globally. From territory to territory, different priorities are having different effects. With COP26 a matter of weeks away, this is our moment to learn from each other and ensure world and business leaders take a collaborative action-focused approach to the climate challenge and help make net zero a reality before it is too late.”