In Paris, all governments solemnly promised to come to COP26 with more ambitious 2030 commitments to close the massive 2030 emissions gap that was already evident in 2015. Three years later the IPCC Special Report on 1.5°C reinforced the scientific imperative, and earlier this year it called a climate “code red.” Now, at the midpoint of Glasgow, it is clear there is a massive credibility, action and commitment gap that casts a long and dark shadow of doubt over the net zero goals put forward by more than 140 countries, covering 90% of global emissions.
The new IPCC report on climate science has reinforced the absolute urgency of closing the 2030 emissions gap if there is to be any chance of limiting warming to 1.5°C. While people are suffering from ever more severe and frequent impacts of climate change around the globe, and the IPCC has yet again clearly demonstrated the feasibility and urgency of climate change mitigation, action to reduce greenhouse gas emissions continues to lag behind what is needed – in practically all countries and sectors. International climate finance to support action in developing countries is falling short. Even countries with strong targets are mostly not on track to meet them, while more have failed to bring forward stronger commitments for 2030.
Climate action announcements at US President Biden’s Leaders Summit on Climate, together with those announced since September last year, have improved the Climate Action Tracker’s warming estimate by 0.2°C. End of century warming from these Paris Agreement pledges and targets is now estimated to be 2.4°C.
This policy brief discusses economy-wide and sector-level benchmarks in 2030 and beyond for Japan to be consistent with the Paris Agreement’s long-term 1.5°C warming limit, based on recent analyses by the Climate Action Tracker and its member organisations, NewClimate Institute and Climate Analytics. The benchmarks presented in this brief are set in such a way that the world would not have to rely excessively on unproven negative emission technologies in the second half of this century.
The recent wave of net zero targets has put the Paris Agreement’s 1.5°C within striking distance. In this global update, the Climate Action Tracker (CAT) has calculated that global warming by 2100 could be as low as 2.1°C as a result of all the net zero pledges announced as of November 2020.
Australia can decarbonise its energy system by 2050 by scaling up climate action in its electricity supply and energy end use sectors, creating up to 76,000 additional jobs in the renewables sector alone.
The COVID-19 pandemic presents the world with an unprecedented policy challenge: not only will it have a severe impact on the global economy likely to exceed that of both the 2008-09 Global Financial Crisis and the Great Depression, it will take place against the backdrop of the ongoing climate crisis.