Strides to limit carbon emissions globally, have fallen short of the target, a new report has confirmed.
Findings suggest COP28 must set the stage for immediate action.
By 2030 emissions are projected to be 2% below 2019 levels, highlighting that the peaking of global emissions will occur within this decade.
In order to achieve peaking of emissions before 2030, the report says, “the conditional elements of the NDCs need to be implemented, which depends mostly on access to enhanced financial resources, technology transfer and technical cooperation, and capacity-building support; as well as the availability of market-based mechanisms” said the Executive-Secretary of UN Climate Change, Simon Stiell. “This means COP28 must be a clear turning point. Governments must not only agree what stronger climate actions will be taken but also start showing exactly how to deliver them.”
“Using the Global Stocktake to plan ahead, we can make COP28 a game-changer. And provide a springboard for a two-year climate action surge,” Stiell said. “We need to rebuild trust in the Paris process. Which means delivering on all commitments, particularly on finance, the great enabler of climate action. And ensuring that we are increasing resilience to climate impacts everywhere.”
“Today’s synthesis report of national climate plans underscores the need for us to act with greater ambition and urgency to meet the goals of the Paris Agreement, there is simply no time left for delays,” said Dr. Sultan Al Jaber, COP28 President Designate. “COP28 must be a historic turning point in this critical decade for Parties to seize the moment of the Global Stocktake to commit to raise their ambition and to unite, act and deliver outcomes that keep 1.5C within reach, while leaving no one behind.”