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Abstract
In recent months, dozens of countries and thousands of businesses have pledged to achieve net zero greenhouse gas emissions. However, net zero often means different things to different entities, and it is often uncertain how net zero pledges-which set targets years or decades from the present-will be met. This Article considers the motivations behind net zero pledges, highlights the underappreciated role of carbon removal in net zero efforts, and identifies mechanisms for encouraging the accomplishment of net zero goals. Two key strategies are essential to making net zero targets matter. First, society should develop and implement accountability and enforcement mechanisms to promote follow through on net zero commitments. These mechanisms include disclosure standards, benchmarks, contractual arrangements, and legal claims under securities and consumer protection laws. Second, net zero pledges should incorporate distinct targets for emissions reduction and carbon removal. Carbon mitigation and carbon removal differ in significant ways with respect to verifiability, permanence, readiness, and risks. Distinguishing carbon mitigation and carbon removal in net zero goals is essential to avoid undermining efforts to achieve climate goals, shifting the burdens of climate action to vulnerable populations or future generations, and increasing societal, health, and environmental risks.
Introduction
In recent months, net zero has become all the rage in climate policy. Dozens of countries-representing over two-thirds of global carbon emissions-have declared their intent to achieve net zero greenhouse gas (GHG) emissions in the coming decades.1 Hundreds of cities and over three thousand businesses have joined Race to Zero, a global collection of net zero commitments from entities responsible for a quarter of global CO2 emissions.2 Many of the world's best-known brands-such as Apple, Facebook, Ford, and McDonald's-are among the companies that have made net zero commitments.3
Net zero targets can take the form of firm commitments and binding laws.4 They also may appear as aspirational statements and nonbinding policy pledges.5 In theory, the achievement of net zero targets can be measured and assessed more readily than broad commitments to environmental sustainability. Nonetheless, it is often uncertain how nations, cities, and businesses will achieve net zero. Net zero commitments-which set targets years or decades from the present-often lack detail regarding implementation measures and interim goals.6 Furthermore, carrying out those commitments will not be easy. It will...