Context:

• The United Nations Environment Programme (UNEP) released the14th Emissions Gap Report 2023.

Critical Climate Report: Alarming Trends, and a Widening Implementation Gap

• Chances of limiting global warming to 1.5 °C : There is only a 14 percent chance of limiting global warming to 1.5 °C over pre-industrial levels considering the most optimistic climate action projects.
• Breach of 2°C target: Even if the existing nationally determined contributions (NDC), both conditional and unconditional, are delivered by 2030, the world will warm by 2.5°C, breaching the 2°C target set by the Paris Agreement.
• Implementation gap: Warming under the current policy scenarios will reach 3°C, given the implementation gap still stands at five gigatonnes of carbon dioxide (CO2) equivalent.
  • Implementation gap is the difference between the commitments made by countries in their NDCs and the actual measures and policies implemented to achieve those commitments.
• Rise in alarming climate trends: There is a spike in the number of climate records being shattered. Ex- 86 days have experienced warming higher than 1.5°C this year.
  • September 2023 was the hottest September ever recorded, and in 2022, global emissions peaked at 57.4 gigatonnes of carbon dioxide equivalent.

Climate Injustice: Unfair Emissions from Rich Countries and Wealthy Households

• Inequalities in contributions to climate change: A minority of nations, led by the United States, the European Union and China, account for a disproportionate share of historical emissions and warming. 
  • The G20 collectively are responsible for three-quarters of the current burden of warming. 
• Role of Affluence: Wealth plays a critical role, with affluent households responsible for nearly half of worldwide consumption-based emissions. 
  • At the household level, the global top 10 percent income bracket generates a staggering 45-49 per cent of total emissions, while the bottom 50 percent contributes a mere 7-13 per cent. 

Net Zero Targets: A Global Landscape of Pledges, Diversity, and Implementation Concerns

• Countries adopting Net Zero pledges: By September 2023, 97 parties from 101 countries, representing 82 percent of global greenhouse gas emissions, had adopted Net Zero pledges. 
  • Net zero refers to the balance between the amount of greenhouse gas (GHG) that’s produced and the amount that’s removed from the atmosphere. It can be achieved through a combination of emission reduction and emission removal.
• Diversity and scope of these commitments: While 37 per cent of global emissions are covered by Net Zero targets for 2050 or earlier, 44 per cent have commitments beyond 2050. 
  • Concerns arise regarding the implementation of Net Zero pledges. 

• Insufficient progress indicators: Despite all G20 members setting Net Zero targets, progress indicators such as legal status, implementation plans, and emission reduction pace remain deeply insufficient signaling a low confidence in the Net Zero targets.
• Need for affordable clean energy financing: As many as 2.4 billion people lack clean cooking sources and 775 million are without electricity. 
  • There is an urgent need for affordable finance in low- and lower-middle-income countries for clean energy investments. 
  • These nations face challenges like high debt, low clean energy investments, and vulnerability to volatile fossil fuel markets. 

• Exploring carbon dioxide removal strategies:  The carbon dioxide removal (CDR) is necessary, given that Net Zero emissions will be impossible without residual emissions being balanced out through removals. 
  • Delaying significant global reductions in greenhouse gas emissions will make us more dependent on future efforts to remove carbon dioxide from the atmosphere.

News Source: DTE