A wide range of policies, regulations, and laws are being used to reduce emissions. As of 2019, carbon pricing covers about 20% of global greenhouse gas emissions. Carbon can be priced with carbon taxes and emissions trading systems. Direct global fossil fuel subsidies reached $319 billion in 2017, and $5.2 trillion when indirect costs such as air pollution are priced in. Ending these can cause a 28% reduction in global carbon emissions and a 46% reduction in air pollution deaths. Money saved on fossil subsidies could be used to support the transition to clean energy instead. More direct methods to reduce greenhouse gases include vehicle efficiency standards, renewable fuel standards, and air pollution regulations on heavy industry. Several countries require utilities to increase the share of renewables in power production. Policy designed through the lens of climate justice tries to address human rights issues and social inequality. For instance, wealthy nations responsible for the largest share of emissions would have to pay poorer countries to adapt. As the use of fossil fuels is reduced, jobs in the sector are being lost. To achieve a just transition, these people would need to be retrained for other jobs. Communities with many fossil fuel workers would need additional investments.
Nearly all countries in the world are parties to the 1994 United Nations Framework Convention on Climate Change (UNFCCC). The goal of the UNFCCC is to prevent dangerous human interference with the climate system. As stated in the convention, this requires that greenhouse gas concentrations are stabilised in the atmosphere at a level where ecosystems can adapt naturally to climate change, food production is not threatened, and economic development can be sustained. The UNFCCC does not itself restrict emissions but rather provides a framework for protocols that do. Global emissions have risen since the UNFCCC was signed. Its yearly conferences are the stage of global negotiations. The 1997 Kyoto Protocol extended the UNFCCC and included legally binding commitments for most developed countries to limit their emissions. During the negotiations, the G77 (representing developing countries) pushed for a mandate requiring developed countries to "[take] the lead" in reducing their emissions, since developed countries contributed most to the accumulation of greenhouse gases in the atmosphere. Per-capita emissions were also still relatively low in developing countries and developing countries would need to emit more to meet their development needs. The 2009 Copenhagen Accord has been widely portrayed as disappointing because of its low goals, and was rejected by poorer nations including the G77. Associated parties aimed to limit the global temperature rise to below 2 °C. The Accord set the goal of sending $100 billion per year to developing countries for mitigation and adaptation by 2020, and proposed the founding of the Green Climate Fund. As of 2020, the fund has failed to reach its expected target, and risks a shrinkage in its funding. In 2015 all UN countries negotiated the Paris Agreement, which aims to keep global warming well below 2.0 °C and contains an aspirational goal of keeping warming under 1.5 °C. The agreement replaced the Kyoto Protocol. Unlike Kyoto, no binding emission targets were set in the Paris Agreement. Instead, a set of procedures was made binding. Countries have to regularly set ever more ambitious goals and reevaluate these goals every five years. The Paris Agreement restated that developing countries must be financially supported. As of October 2021, 194 states and the European Union have signed the treaty and 191 states and the EU have ratified or acceded to the agreement. The 1987 Montreal Protocol, an international agreement to stop emitting ozone-depleting gases, may have been more effective at curbing greenhouse gas emissions than the Kyoto Protocol specifically designed to do so. The 2016 Kigali Amendment to the Montreal Protocol aims to reduce the emissions of hydrofluorocarbons, a group of powerful greenhouse gases which served as a replacement for banned ozone-depleting gases. This made the Montreal Protocol a stronger agreement against climate change.
In 2019, the United Kingdom parliament became the first national government to declare a climate emergency. Other countries and jurisdictions followed suit. That same year, the European Parliament declared a "climate and environmental emergency". The European Commission presented its European Green Deal with the goal of making the EU carbon-neutral by 2050. Major countries in Asia have made similar pledges: South Korea and Japan have committed to become carbon-neutral by 2050, and China by 2060. In 2021, the European Commission released its “Fit for 55” legislation package, which contains guidelines for the car industry; all new cars on the European market must be zero-emission vehicles from 2035. While India has strong incentives for renewables, it also plans a significant expansion of coal in the country. Vietnam is among very few coal-dependent fast developing countries that pledged to phase out unabated coal power by the 2040s or as soon as possible there after. As of 2021, based on information from 48 national climate plans, which represent 40% of the parties to the Paris Agreement, estimated total greenhouse gas emissions will be 0.5% lower compared to 2010 levels, below the 45% or 25% reduction goals to limit global warming to 1.5 °C or 2 °C, respectively.