A new study from the University of Oxford has revealed a global surge in net zero regulations.

The research, developed with the help of 48 leading law firms across the planet, provides an in-depth look at how economic rules align with climate goals.

The study comes as countries meet at COP29 in Baku, Azerbaijan, highlighting the persistent "implementation gap" between climate targets and results.

Read more: Abingdon: Midget pub closes for controversial name change

Despite a 23 per cent rise in company net zero targets over the last year, global emissions continue to rise.

Professor Thomas Hale, co-lead for the study, said: "Nations and companies have made ambitious pledges, but pledges alone won’t prevent catastrophic climate change.

"We need legally enforced rules – imposed by governments on themselves and on companies operating in their jurisdictions.

"The good news is there’s been huge recent growth in such rules.

"Next we need to close gaps."

The study found that many countries, including the UK, have introduced new laws requiring companies to create plans for transitioning to net zero.

In the UK, companies looking to sell goods and services worth more than £5 million to the government must have a net zero plan.

However, the study also identified an implementation gap.

While many countries and companies have set net-zero targets, these are not always backed by concrete regulations and policies.

Dr Thom Wetzer, co-lead for the study, said: "To close gaps in climate policy, we need to be able to see and understand them.

"Our open-access Climate Policy Monitor will allow everyone to evaluate the ambition, comprehensiveness and stringency of climate regulations as they evolve over time."

The Climate Policy Monitor, which launched on Wednesday, November 13, will be a regularly updated public resource evaluating the ambition, comprehensiveness, and stringency of climate-related regulations against more than 250 data points.

The monitor will evaluate national regulations in three key areas: climate-related disclosure, transition planning, and public procurement.

The study found that 17 jurisdictions mandate companies to disclose emissions across their entire value chains.

However, only 20 per cent of regulations require companies to actually implement their transition plans.

The study also found a lack of clear standards on how to operationalise requirements to align government procurement spending with climate goals.

Professor Hale said: "There’s been huge growth in rules around net zero in just the last year, not just in Europe but in jurisdictions like South Africa, Turkey, and California."

The Net Zero Regulation and Policy Hub, which produces the Climate Policy Monitor, is a collaboration between the Blavatnik School of Government and the Oxford Sustainable Law Programme.

It is part of the Oxford Net Zero strategic cluster.