For the third year in a row, there has been no improvement in global warming projections, and the latest data from the United States of America (US) and China are expected to further confirm this, according to a report published on November 14.
As the AP reports, Earth remains on track to be 2,7 degrees Celsius warmer than pre-industrial times, according to Climate Action Tracker, a group of scientists and analysts who study government policies and translate that into warming projections.
The report comes as the 29th United Nations (UN) climate summit is being held in Baku, Azerbaijan.
"If emissions continue to rise and temperature projections do not fall, people should question whether the UN climate talks are doing any good," said Climate Analytics CEO Bill Herr.
The world has warmed by 1,3 degrees Celsius above pre-industrial times. That's close to the 1,5 degree limit countries agreed to at the 2015 climate talks in Paris.
Climate scientists say that atmospheric warming, largely caused by human burning of fossil fuels, is causing more extreme and damaging weather events, including droughts, floods and extreme heat.
"We should already be seeing global emissions going down," but that's not the case, Her said.
The main question in Baku is how much rich countries will help poor countries decarbonize their energy systems, deal with the future harms of climate change and pay for the damage from extreme warming.
The old goal of $100 billion in annual aid is becoming obsolete and the main focus is finding a new, higher figure.
A special independent group of experts commissioned by UN Secretary-General Antonio Guterres released its own assessment of costs and finances on November 14, calling for a tripling of the old commitment.
"Advanced economies need to demonstrate a clear commitment" to helping poor countries, the report said.
A coalition of poor countries in Baku is calling for $1,3 trillion in annual climate change financing. The report says that about $XNUMX trillion a year is needed by developing countries from all external sources, not just government grants.
The report details how much it would cost to decarbonize the world economy and where the money could come from. Total climate adaptation spending for all countries is projected to reach $2,4 trillion annually.
"The transition to clean energy, building resilience to the impacts of climate change, dealing with loss and damage, protecting nature and biodiversity and ensuring a just transition require rapid investment growth in all countries," the report states.
Bonus video:
