► CAPTAIN'S CLAIM
Countries whose Nationally Determined Contribution language scores highest on ambition-rhetoric indices show the slowest year-over-year emissions-trajectory adjustment in /api/emissions and /api/emissionssectors data; high-rhetoric, low-execution governments dominate the laggard quartile.
► IF TRUE, THEN
Sovereign-climate-risk premiums should be priced against an implementation index (emissions delta vs NDC pledge) rather than pledge strength. Buyers of sovereign carbon-linked debt underpricing this gap face 18-40% NPV revision when 2030 interim accounting closes.
SUPPORTS
ρ < -0.25 across G20 sample over 2020-2026 window
FALSIFIES
|ρ| < 0.05 (no meaningful relationship), OR ρ > +0.25 (rhetoric correctly predicts execution)
METRIC
Pearson correlation between NDC-ambition score (Climate Action Tracker, UNFCCC submissions) and 3-yr rolling emissions trajectory delta against pledge
Cross-correlates:
/api/emissions
/api/emissionssectors
/api/ndcs
/api/climatefinance