Inland waters are important emitters of the greenhouse gasses (GHGs) carbon dioxide (CO₂), methane (CH₄), and nitrous oxide (N₂O) to the atmosphere. In the framework of the 2nd phase of the REgional Carbon Cycle Assessment and Processes (RECCAP‐2) initiative, we review the state of the art in estimating inland water GHG budgets at global scale, which has substantially advanced since the first phase of RECCAP nearly 10 years ago. The development of increasingly sophisticated upscaling techniques, including statistical prediction and process‐based models, allows for spatially explicit estimates that are needed for regionalized assessments of continental GHG budgets such as those established for RECCAP. A few recent estimates also resolve the seasonal and/or interannual variability in inland water GHG emissions. Nonetheless, the global‐scale assessment of inland water emissions remains challenging because of limited spatial and temporal coverage of observations and persisting uncertainties in the abundance and distribution of inland water surface areas. To decrease these uncertainties, more empirical work on the contributions of hot‐spots and hot‐moments to overall inland water GHG emissions is particularly needed.