- A UN report revealed that greenhouse gas emissions in 2023 grew by 5.2% in China and 6.1% in India, two of the top three emitters.
- Global emissions also rose by 1.3%, putting climate targets under serious threat.
- It warns that the Paris Agreement goal to limit global temperature rise to 1.5°C could be out of reach within a few years, with even the 2°C threshold at risk without immediate action.
- Current climate actions could only achieve a 10% reduction in global emissions by 2030 from 2019 levels, far short of the required 42% reduction.
- To keep the 1.5°C target feasible, global emissions must decrease by 57% by 2035.
- Updated national climate action plans, due next year, need to be significantly more ambitious to meet these targets.
- The report emphasizes a major increase in investment, estimating that emissions can be reduced by 31 billion tonnes by 2030 at a cost of $200 per ton of CO2 equivalent, which would be sufficient to meet the 1.5°C target.
- Countries are set to meet in Baku to discuss scaling up financial resources for climate action, which is critical to bridging the emissions gap.
- Climate activists highlight the urgent need for reduced fossil fuel emissions, warning that inaction could result in irreversible climate impacts.
Dig Deeper: Read about India’s efforts to curb emissions in India.
