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Since COP 26, there has been very limited progress in reducing the immense emissions gap for 2030. Countries’ new and updated nationally determined (NDCs) submitted since COP 26 have been called upon to “revisit and strengthen” their 2030 targets by the end of 2022. The report considers transformations required in the electricity supply, industry, transport and financial system. It also investigates cross-cutting systemic changes in food systems and the financial system to reduce emissions beyond current mitigation pledges.