Core Viewpoint - The global net-zero action is at a critical turning point, transitioning from framework construction to substantial implementation. Despite progress in multilateral mechanisms, issues such as funding gaps, technological barriers, geopolitical conflicts, and capacity shortcomings still hinder cooperation effectiveness. Strengthening climate finance, promoting technology sharing, building inclusive international frameworks, and enhancing governance capabilities are essential to ensure global emission reduction targets are met by 2030 and to lay a solid foundation for the 2050 net-zero vision [1][2]. Group 1: Progress in Global Net-Zero Actions - International cooperation on net-zero actions is deepening, with significant advancements in China-Europe and China-UK collaborations. Since 2015, Chinese financial institutions have issued over $12 billion in green and sustainable development bonds through the London Stock Exchange. In 2023, Bank of China issued a $600 million green bond, with funds allocated to green credit projects in the UK, France, and the Netherlands [3]. - Developing countries are enhancing climate cooperation, with China emerging as a major climate finance provider through initiatives like the Belt and Road and South-South cooperation. In 2020, China ranked 11th globally in climate funding, providing approximately $34.3 billion from 2013 to 2021 to support the transition to low-carbon economies [3]. - The Glasgow Financial Alliance for Net Zero (GFANZ) aims to encourage financial institutions to commit to net-zero targets, providing a unified framework and tools for developing scientific transition plans. By the end of 2024, 122 member banks are expected to have voluntarily disclosed their net-zero targets [3]. Group 2: Enhancing Technical Cooperation and Standard Coordination - Efforts are underway to unify carbon market standards and enhance transparency. The World Sustainable Development Standards Organization (WSSO) is working on global energy and carbon neutrality standards, while the G20 Sustainable Finance Working Group suggests establishing a universal carbon credit data model [4]. - The International Sustainability Standards Board (ISSB) has released global benchmarks for climate-related disclosures, gaining recognition from the International Organization of Securities Commissions (IOSCO) and being adopted in various regions [4]. - International cooperation through the World Bank and IMF is aimed at enhancing countries' capacities to address climate change, with multiple climate data platforms established to support scientific research and policy-making [4]. Group 3: Challenges and Issues in Global Net-Zero Actions - A significant funding gap exists, with developed countries' climate finance commitments under the Paris Agreement only being met in 2022, providing $115.9 billion, primarily in loans. The UN Climate Change Conference (COP28) anticipates a funding gap of $5.9 trillion for developing countries by 2030 [5]. - The distribution of climate financing is uneven, with regions like Africa receiving only 2% of global clean energy investments despite representing 20% of the population. This imbalance hampers the ability of developing countries to transition to clean energy [5]. - There is a credibility crisis regarding corporate net-zero commitments, with many lacking clarity and relying on low-quality carbon offset projects. Some fossil fuel companies use "net-zero" claims to mask expansion plans, raising concerns about the integrity of these commitments [5]. Group 4: Shortcomings in Awareness and Capacity Among Relevant Entities - Many net-zero targets are voluntary and lack enforceability, with surveys indicating that 28% of companies have no decarbonization plans for the next year, and 23% lack confidence in achieving 2050 targets [7]. - Local financial institutions often lack awareness and initiative regarding net-zero actions, focusing on profit growth rather than understanding national emission reduction goals [7]. - Policy transmission is obstructed, with banks having a stronger influence on small and medium enterprises, which are not major carbon emitters. This limits the effectiveness of banks in promoting net-zero actions [7].