The critical role of oil and gas in meeting future energy demand and achieving energy poverty eradication should be taken into consideration when developing investment plans and energy portfolios that lead to a low-emissions future. Any adverse impacts for the economies and societies of energy-exporting developing countries should be addressed in the context of equity and sustainable development.
In this respect, amid the current disruptions related to the pandemic and geopolitics, the world is losing momentum towards the attainment of Sustainable Development Goal (SDG) 7 targets, especially on energy poverty eradication. International cooperation and finance are fundamental instruments for achieving progress on the SDGs, including on universal energy access, and ensuring a just and inclusive energy transition.
Source: World Bank, 2022
Source: World Bank, 2022
Source: World Health Organization, 2022
Source: World Health Organization, 2022
| Annex I Party | |||
| Country/region | Share of global GHG emissions (%) | NDC target by 2030 | LTS (or NZT) target |
| US | 11.84 | 50-52% below 2005 levels | NZT by 2050 |
| EU27 | 6.81 | 55% below 1990 levels | Climate neutrality by 2050 |
| Russia | 4.07 | 30% below 1990 levels | NZT by 2060 |
| Japan | 2.36 | 46-50% below 2013 levels | Carbon neutrality by 2050 |
| Non-Annex I Party | |||
| Country/region | Share of global GHG emissions (%) | NDC target by 2030 | LTS (or NZT) target |
| China | 23.92 | 65% below 2005 levels (GDP intensity) | Carbon neutrality by 2060 |
| India | 6.84 | 33-35% below 2005 levels (GDP intensity) | NZT by 2070 |
| Brazil | 2.90 | 50% below 2005 levels | NZT by 2050 |
| South Africa | 1.06 | 350-420 MtCO2eq | NZT by 2050 |