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The Temperature in Golden Co & Our World in Data

It has been warned to world leaders that inaction on climate change will result in vital temperature rise thresholds being exceeded by more than one degree Celsius this century.

The United Nations Environment Programme (UNEP) said in its 2022 emissions gap assessment that there is presently no "credible pathway" to keep the temperature rise to 1.5 degrees, as leaders agreed to do in 2015.

According to UNEP, pledges made at the COP26 summit in Glasgow last year and in the 12 months after then will result in greenhouse gas emission reductions of less than 1% of anticipated emissions in 2030. Even if those pledges are kept, a rise in global temperature of 2.4 to 2.6 degrees is predicted by the year 2100.

Inger Andersen, executive director of UNEP, stated that the opportunity to make little improvements was over. "The only way to stop the increasing climate crisis is through a root-and-branch restructuring of our economy and communities.

"Reforming the global economy and nearly halving greenhouse gas emissions by 2030 is a hard order—some would even argue it's impossible—but we must try.

Each and every one of us, as well as species and ecosystems, are impacted by even the smallest changes.

The UNEP research is only one of many studies that have been made public in advance of COP27, the UN climate summit for 2022 that will be held in Egypt this month.

Increasing Emissions

Carbon data analysis reveals that while emissions have decreased in a few locations, they have increased globally between 1990 and 2019 despite a decline in early COVID-19 pandemic emissions caused by the suspension of air and road traffic as well as industries.

Despite the fact that greenhouse gas emissions are frequently referred to as "anthropogenic," or generated by humans, the richest nations and people are actually to blame for both historical and current emissions.

Only 16% of the increase in emissions since 1990 has been attributed to the poorest 50% of the world's population, whereas 23% of the increase has been attributed to the richest 1%. According to data analysis by economist Lucas Chancel of the World Inequality Lab at the Paris School of Economics, which was published in September in Nature Sustainability, the majority of the 1 percent's emissions come from their investments rather than their consumption.

According to a study conducted by the University of Groningen in the Netherlands, Sub-Saharan African nations have the lowest average carbon footprints, whereas Luxembourg and the United States, which are both quite wealthy, have the largest.

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Increasing Costs Related to Climate

Rich, high-emitting nations promised to give developing nations $100 billion year by 2020 to help them combat and adapt to climate change; in 2015, they repeated and extended this unfulfilled pledge to 2025.

But it is still unfulfilled. In addition, loans rather than grants made up the majority of the available funding. According to research released in July by the OECD, an association of 38 market-based economies, public finance made up the majority and has climbed year since 2015, whereas private finance has fluctuated and decreased.

According to the OECD, developing nations received US$83.3 billion in climate finance in 2020. According to the OECD, the majority of the funding was allocated for climate mitigation, with a focus on middle-income and Asian nations.

The World Resources Institute (WRI), a nonprofit research organization, asserts that additional funding is required to fulfill high-income countries' commitment from last year to provide US$40 billion in adaptation finance by 2025, despite the OECD's assertion that funding for adaptation is increasing.

More than 250 health journals wrote editorials in October urging world leaders to provide climate justice for Africa at the same time. In order to prevent the systemic hazards of leaving societies in crisis, the 16 authors from eminent biomedical journals in Africa stated that reaching US$100 billion was now "globally vital," and that additional resources for loss and damage must also be added.

At COP27, low- and middle-income nations and vulnerable communities are likely to make a significant push for the financing of the irreversible damage—known losses and damages—caused by climate change. The nations that contributed the least to historical emissions are experiencing the brunt of climate change, and they demand financial compensation from wealthier nations.

Since 2017, approximately half of all UN calls for assistance with climate disasters have fallen on deaf ears, forcing the poorest nations to come up with US$33 billion in order to recover from floods, fires, and other extreme weather events. International charity Oxfam's investigation also revealed that for every $2 asked by a nation facing a climate catastrophe, just about $1 was granted.

Shifts in Systems

According to the most recent Global Land Outlook from the UN Convention to Combat Desertification (UNCCD), food systems globally are responsible for 80% of deforestation, 70% of freshwater use, and the single largest driver of land-based biodiversity loss. Industrial agriculture systems are major contributors to greenhouse gas emissions.

The prognosis, which took five years to create, estimates that up to 40% of the world's land is currently damaged. According to the UNCCD, national commitments to repair 1 billion hectares of degraded land by 2030 might cost up to $US1.7 trillion, which is a significant decrease from the US$700 billion spent annually on fossil fuels and agricultural subsidies.

The majority of greenhouse gas emissions from land use change are caused by intensive single-crop production and deforestation, while nitrous oxide emissions from fertilizer use and methane emissions from livestock account for "the largest and most potent share" of agricultural emissions, according to the outlook.

It went on to state that "what is clear and unequivocal is the need for coordinated measures to meaningfully slow or reverse climate change, land degradation, and biodiversity loss in order to safeguard human health and livelihoods, ensure food and water security, and leave a sustainable legacy for future generations."

The End of Fossil Fuels is Coming

For the Just Energy Transition Partnership, which South Africa, along with France, Germany, the UK, the US, and the European Union, announced at COP26, support and governance institutions are being established. The developed economies in the partnership agreed to raise US$8.5 billion over the following three to five years to aid South Africa in its transition to a low-emission economy. In its COP26 progress report, the WRI stated that an investment plan is anticipated to be revealed at COP27.

The G7 leaders have started a similar relationship with India, Indonesia, Vietnam, and Senegal, but according to the WRI, there are still no additional details, like how much assistance each nation will get.

However, the International Energy Agency (IEA) said that the "golden age of gas" has come to an end when it unveiled its World Energy Outlook 2022 in advance of COP27. While the IEA predicted that tightened regulations, high short-term costs, and worries about energy security would hasten the end of this "golden age," it also predicted that fossil gas would continue to be "crucial" despite decreased pipeline flows to Europe and increased import demand in Asia.

According to the energy projection, the peak in global demand for "every fossil fuel" will occur in 2025 as a result of the fallout from Russia's invasion of Ukraine and its long-lasting effects on fossil fuel energy policies.

According to IEA executive director Fatih Birol, "Energy markets and policy have changed as a result of Russia's invasion of Ukraine, not just for the present but for decades to come."

"Even with the current policy framework, the energy landscape is rapidly changing in front of our eyes. Global government responses pledge to make this a historic and indisputable turning point in the direction of a cleaner, more cost-effective, and more secure energy system.