Some 130 countries accounting for 90% of global GDP, 85% of population and 88% of emissions have declared their ambition to achieve net zero carbon emissions. Yet timelines, approaches and priorities differ vastly among nations and regions. The distinct pathways could provide competitive advantages to first movers, as well as friction in broader trade, investment and regulatory relations. What are the prospects for regulatory convergence over time? If a single pathway was never an option, what is the state of play as nations and business prepare for COP27?