PARIS: The world is gravely off track in achieving the objectives set forth by the Paris Climate Agreement, including the reduction of carbon emissions and increased financing for developing nations, as stated in the UN’s inaugural progress report on the agreement.
While the 2015 Paris treaty has been instrumental in promoting global climate action, the report underscores that “much more is needed now on all fronts.” This assessment will serve as the foundation for a pivotal climate summit scheduled for the end of the year in Dubai.
The report asserts that the international community is not on a trajectory to fulfill the Paris Agreement’s long-term objectives, including the critical goal of limiting global warming to 1.5 degrees Celsius above pre-industrial levels.
To maintain the 1.5-degree target within reach, global greenhouse gas emissions must peak by 2025 and then undergo a rapid and substantial reduction, in accordance with scientific advice from the UN’s Intergovernmental Panel on Climate Change (IPCC).
Additionally, achieving net-zero carbon emissions by 2050, another key Paris goal, necessitates phasing out the use of all fossil fuels that do not employ technology to capture their emissions.
The timeline and methodology for transitioning the global economy away from oil, gas, and coal will be a contentious topic during the forthcoming COP28 talks, where 196 nations will convene in Dubai at the end of November.
The UN’s stocktake report also emphasizes the imperative to significantly expand clean energy sources, marking the first comprehensive evaluation of global progress toward fulfilling the climate goals outlined in the Paris Agreement.
It states, “Scaling up renewable energy and phasing out all unabated fossil fuels are indispensable elements of just energy transitions to net-zero emissions.”
The term “unabated” refers to the absence of technologies that mitigate carbon emissions, whether at their source or from the atmosphere.
G20 Nations Shoulder Climate Responsibility
The report underscores the urgency of having global greenhouse gas emissions peak by 2025 and subsequently decline significantly to align with the Paris Agreement’s climate targets.
Despite emissions peaking in several developed and a handful of developing countries, many of the world’s largest economies continue to witness an increase in emissions, as indicated in the UN’s initial Global Stocktake of progress toward the Paris treaty’s objectives.
Except for a temporary dip in 2020 due to the Covid pandemic’s impact on the global economy, CO2 emissions have consistently hovered around 40 billion tonnes annually since 2019.
UN Climate Chief Simon Stiell remarked, “We know that the burden of response sits with 20 countries,” referring to the G20 nations, who are convening for a summit this weekend in Delhi and collectively contribute to approximately 85 percent of global emissions.
Stiell expressed disappointment with the adequacy of the G20’s communiques in addressing the climate crisis.
China, the United States, the European Union, and India alone account for over half of total global emissions. Tom Evans, a policy analyst at climate think tanks E3G, characterized the global stocktake report as a clarion call for immediate and substantial action to fulfill the Paris Agreement’s objectives.
The report additionally highlights the pressing need to rapidly increase financial support to developing nations. This will enable them to adapt to the climate-induced weather catastrophes that are already eroding their economies. Many African countries, already grappling with debt burdens, are facing immense challenges in transitioning away from fossil fuels as they contend with worsening droughts, floods, heatwaves, and storms.
