Transition of global economy way off track

The findings are an 'urgent call to decision makers'.

The findings are an ‘urgent call to decision makers’.

In almost every sector, the greening of the global economy is slowly taking place to tackle climate change, according to a worrying report Wednesday from a consortium of research organizations.

From energy, industry and transport to food production, deforestation and investment, progress on the 40 key indicators must be accelerated – often ten times or more – to meet the Paris Agreement’s goal of limiting global warming to 1.5 degrees Celsius. .

The planet has already warmed 1.2C, enough to unleash a deadly and costly storm surge, floods, droughts and heat waves.

In at least five areas, current trends are still in the wrong direction, according to the 200-page analysis, which comes 12 days before UN climate talks in Sharm El-Sheik, Egypt.

This includes the share of natural gas in electricity generation, the share of kilometers traveled by vehicles, and the emissions from agriculture.

“We are not winning in every area,” said Ani Dasgupta, head of the World Resources Institute, one of the climate think tanks that contributed to the report.

The findings, he said, “is an urgent need for decision-makers to deliver real change in our economy”.

Clean energy

By comparing current efforts with those needed by 2030 and the mid-century to limit warming to 1.5C, the researchers calculated the global climate change.

“The hard truth is that none of the 40 indicators we examined are on track to meet their 2030 goals,” said lead author Sophia Boehm, a researcher at the Systems Change Lab.

The measures to reduce global warming are their reduction of greenhouse gases and their costs until 2030

The measures to reduce global warming are their reduction of greenhouse gases and their costs until 2030.

To prevent global warming, global air pollution must be reduced by 40 percent by the end of this decade. By 2050, the world must be net neutral, returning any remaining CO2 emissions2 to remove.

Of greatest concern, the authors said in a nutshell, is the decline in the electricity sector and the lack of progress in stopping deforestation.

Emissions of coal used for electricity generation without CO filtration2 The rollout is expected to be six times faster, which equates to leaving about 1,000 coal-fired power plants a year over the next seven years.

The energy sector is the world’s largest source of CO2 emissions, and coal—which accounts for about 40 percent of the world’s electricity—is the most carbon-intensive fossil fuel.

“If our solution to many problems is to install electricity, then we need to make sure that the electricity is clean and oil-free,” said Louise Jeffery, a researcher at the New Climate Institute.

The huge increase in solar and wind power has not been enough to keep up with the increase in electricity.

‘Irreversible’ forest loss

Progress on deforestation needs to double or triple to keep the 1.5C target within reach, according to the report.

“The loss of large-scale forest cover is irreversible, both as a reservoir of carbon dioxide and as a reservoir for biodiversity,” said co-author Kelly Levin, director of science, data and climate change at the Bezos Earth Fund.

“If meeting the 1.5C target is difficult now, it will not be possible if you remove our carbon stocks,” he added, referring to the role of forests and soils in accounting for about 30 percent of human-caused air pollution.

The huge increase in solar and wind power has not been enough to keep up with the increase in electricity

The huge increase in solar and wind power has not been enough to keep up with the increase in electricity.

Some of the main findings from the report on the trends in change are important this decade:

– Public transport systems such as metros, light rail and public bus networks should be expanded six times faster;

-The amount of carbon released in the production of cement should decrease 10 times faster;

Eating meat at any level – it’s getting worse

The report also looked at climate finance.

“Governments and the private sector are failing to meet the Paris Agreement’s goals of harmonizing climate change and limiting 1.5C,” said Claire Fyson, researcher at Climate Analytics.

The analysis showed that the international budget for climate change, which is the main focus of the UN negotiations in Egypt – should grow 10 times faster than the recent one, from $ 640 billion in 2022 to $ 5.2 billion in 2030.

At the same time, governments are still pouring money into fossil fuels, spending nearly $700 billion on coal, oil and gas in 2020.

Major economies have nearly doubled their spending on fossil fuels and oil imports between 2020 and 2021.


Energy agency: CO2 emissions will rise in 2022, but slowly


© 2022 AFP

To mention: Climate crisis: Global economy transition (2022, October 26) Retrieved October 26, 2022 from https://phys.org/news/2022-10-climate-crisis-transition-global-economy.html

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