It was released by the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA) and the UN Climate Change High-Level Champions.
It assesses progress on reducing emissions in five key sectors – power, hydrogen, road transport, steel and agriculture.
It is a first-of-its-kind annual progress report, requested at the UN Climate Change Conference COP26 in November 2021.
It covers more than two-thirds of the global economy, with endorsement from 45 world leaders, including those of the G7, China and India.
The five sectors analysed in the report together account for nearly 60% of global greenhouse gas (GHG) emissions.