An international report revealed that there is a need for investments of at least 4-6 trillion dollars to decarbonize the global economy, noting that “we are still far from the scale and pace of emissions reductions required to put us on the right track towards a 1.5°C world.”
The 24 updated plans presented this year have made little difference, according to its assessment, with emissions set to be 10.6% higher by 2030 than 2010 levels.
That’s slightly better than the expected 13.7% increase last year, but not fast enough to keep pace with the Paris Agreement’s temperature targets.
He added that the synthesis report analyzes the contributions of 193 countries submitted to the United Nations between COP26 and September 23, which together cover 94.9% of the world’s total greenhouse gases.
As the world continues to extract and burn fossil fuels, the World Meteorological Organization has found, once again, that the three major greenhouse gases – carbon dioxide, methane and nitrous oxide – reached new records in 2021.
From 2020 to 2021, carbon dioxide levels increased more rapidly than the average annual growth rate for the past decade, reaching 415.7 parts per million in the atmosphere, a 149% increase from pre-industrial levels as emissions continued to rise. This year.
Atmospheric methane concentrations have seen the biggest jump year-over-year since records began nearly 40 years ago, the report said, and scientists aren’t sure why.
The World Meteorological Organization (WMO) suggested that this was caused by both human activities and natural variability.