UN Report: Global Climate Pledges Insufficient, World Faces Dangerous Warming

A recent assessment by the United Nations Environment Programme (UNEP) indicates that global climate pledges are making only marginal progress towards limiting global warming, leaving the world on track for dangerous temperature rises. The report projects a rise of 2.3-2.5 degrees Celsius this century, a slight improvement from previous forecasts, but this gain is largely attributed to accounting changes rather than significant emission reductions. The United States' withdrawal from the Paris Agreement is also expected to offset some of this limited progress. UNEP's Executive Director, Inger Andersen, stated that nations have repeatedly failed to meet their climate targets, emphasizing the need for unprecedented emissions cuts. Global greenhouse gas emissions actually increased by 2.3% in 2024. Furthermore, many countries have not yet submitted updated climate pledges, and current commitments fall far short of the 55% emission reduction needed by 2035 to meet the 1.5°C target. The report warns that exceeding 1.5°C warming is likely within the next decade. Despite challenges, the report notes the potential offered by falling renewable energy costs. UNEP recommends overcoming policy barriers, increasing financial support for developing nations, and redesigning international financial systems to accelerate climate action. Even the most ambitious scenarios suggest warming above 1.5°C.

Impact: This news significantly influences global economic policies, investment in renewable energy and sustainable technologies, and regulatory frameworks. For Indian businesses, it underscores the need for enhanced climate resilience and transition strategies, potentially affecting sectors from energy to manufacturing. Rating: 7/10.

Difficult Terms: Nationally Determined Contributions (NDCs): These are the climate actions and targets that each country sets for itself under the Paris Agreement to reduce greenhouse gas emissions and adapt to climate change. Paris Agreement: An international treaty adopted in 2015 to combat climate change, aiming to limit global warming to well below 2, preferably to 1.5 degrees Celsius, compared to pre-industrial levels. Gigatonnes of carbon dioxide equivalent (GtCO2e): A unit used to measure the total greenhouse gas emissions from various gases, scaled to the impact of one gigatonne of carbon dioxide. Overshoot: A situation where global temperatures temporarily exceed a specific climate target, such as 1.5°C, before potentially returning to it. Carbon dioxide removal (CDR): Technologies or practices designed to extract carbon dioxide directly from the atmosphere.