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Mahesh

29/10/22 05:50 AM IST

Emissions Gap Report 2022

In News 
  • The United Nations Environment Programme (UNEP) recently released the Emissions Gap Report 2022, ahead of the United Nations Climate Change Conference (COP27) in Sharm El Sheikh, Egypt.
Major Findings 
  • The report warned that the world is falling short of achieving the goals set under the 2015 Paris Agreement and recommended an urgent system-wide transformation and GHG emission reduction by unprecedented levels in the next 8 years.
  • The current policies will lead to a 2.8°C temperature rise by 2100. Implementation of current climate pledges will only reduce this to a 2.4 to 2.6°C temperature rise by the end of this century.
  • GHG emissions must be reduced by 45 percent by 2030 to achieve the Paris Agreement goals. However, the report shows that the emissions are at dangerous and record-high levels and are still rising.
  • The latest report recommended remedial actions in 6 areas – electricity supply, industry, transport and building sectors, and food and financial systems.
  • It estimates that the global transformation to a low-carbon economy would require 4 to 6 trillion USD in investment each year.
  • It recommended six sets of measures to increase resources for the creation of such an economy. These measures include carbon pricing and the creation of a market for low-carbon technologies.
  • The report shows that updated national pledges since COP26 (held in 2021 in Glasgow, UK) make a negligible difference to predicted 2030 emissions.
  • For most major emitters, GHG emissions (excluding land use and forestry sectors) rebounded in 2021, exceeding pre-pandemic 2019 levels.

About the United Nations Environment Programme (UNEP)
  • It was established after the United Nations Conference on the Human Environment in Stockholm in 1972 and is headquartered at Nairobi, Kenya.
  • The UNEP is responsible for coordinating responses to environmental issues within the United Nations system.
  • It does so through the UN Environment Assembly, the world’s highest decision-making body on the environment.
Significance of the report
  • It emphasises the lack of credible roadmaps that can guide countries from actions planned for this decade to actions required by the middle of the century.
  • It also emphasises the need for a 10-fold increase in funding and the need for alternative technologies in heavy-industry to reverse the rise in carbon intensity of global steel production.
  • It is encouraging to see that India has maintained its momentum in renewables However, to meet its targets, it will need to increase its reliance on non-fossil energy.
Source- Indian Express 

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