Climate action must be significantly intensified to achieve the goals of the Paris Climate Agreement. However, low-carbon solutions and new markets have been launched in the years since the agreement entered into force, including the circular carbon economy approach endorsed by the G20 in Riyadh. To date, 194 Parties have submitted the first NDC, while 15 Parties have already submitted a second version. Countries, regions, cities, and companies are setting targets to reach net zero emissions. The United Nations Intergovernmental Panel on Climate Change believes that net-zero emissions solutions have become competitive among economic sectors, representing 25 percent of emissions, and by 2030 they are expected to be able to compete in sectors that represent more than 70 percent of global emissions. And by signing this agreement, countries also established the Enhanced Transparency Framework, which would encourage countries, starting in 2024, to be transparent in reporting the actions that have been taken and the level of achievement in climate change mitigation, adaptation measures, and support provided or received.