Human activities have caused global temperatures to increase by 1.25°C, and the current emissions trajectory suggests that we will exceed 1.5°C in less than 10 years. Though the growth rate of global carbon dioxide emissions has slowed and many countries have strengthened their emissions targets, current midcentury net zero goals are insufficient to limit global warming to 1.5°C above preindustrial temperatures. The primary barriers to the achievement of a 1.5°C-compatible pathway are not geophysical but rather reflect inertia in our political and technological systems. Both political and corporate leadership are needed to overcome this inertia, supported by increased societal recognition of the need for system-level and individual lifestyle changes. The available evidence does not yet indicate that the world has seriously committed to achieving the 1.5°C goal.