The UN Environment Programme released its Emissions Gap report for 2023.
Here are some key points to note:
- Estimated emissions by 2030 need to fall 28% to hold the global temperature below 2°C above pre-industrial levels and 42% for 1.5°C.
- All countries are asked to have more ambiguous targets to accelerate low-carbon transformations.
- In 2022, the global GHG emissions reached a record high of 57.4 GtCO2e (1.2% higher than the previous year).
- Since the Paris Agreement was adopted in 2015, the number of NDCs* that communicate the use of international markets (to trade emissions credits or offsets) has increased from 92 to 121. *The Nationally Determined Contributions (NDCs) are the emissions reduction commitments submitted by nations to track their progress in accordance with the Paris Agreement (Art. 4).
- Net-Zero pledges have increased, but the confidence in their implementation remains low.
- Robust measurement, reporting and verification systems are needed.
What is next?
Next week, the 2023 United Nations Climate Change Conference (COP28) will be held in Dubai, in which this article will be discussed, among many other things. It will be interesting to see what the outcomes are.
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