Imaga Resource: Markus Spiske
The United Nations Environment Programme (UNEP) and Secretary-General António Guterres issued a critical warning on 31 October 2024 through the UN Emissions Gap Report 2024, presented during the COP16 biodiversity conference in Colombia.
The report emphasises the necessity of a 42% reduction in global emissions by 2030 to maintain the 1.5°C temperature target outlined in the Paris Agreement.
There is an urgent need for decisive action to reduce greenhouse gas emissions to prevent the erosive effects of global warming. The report calls for swift global adoption of established, cost-effective technologies to bridge the emissions gap and protect the planet’s future, with global temperatures currently projected to rise by 3.1°C by the end of the century.
Findings of the Emissions Gap Report 2024
The report outlines specific, sector-focused strategies to reduce emissions, calling for significant cuts by 2030 and continued efforts through 2035. It reveals that even with current national climate pledges, the 1.5°C target remains out of reach, highlighting the need for a more ambitious global response.
Average global temperatures are expected to exceed safe limits without effective emissions reductions. If this occurs, projections indicate a rise of 3.1°C could lead to numerous disasters.
One of the findings in the report is the need for immediate and effective interventions to meet climate commitments.
The interventions should be implemented immediately to avoid a future characterised by extreme heatwaves, severe weather events, and irreversible damage to ecosystems. This would protect vulnerable communities from suffering the most, as extreme weather, droughts, and rising sea levels threaten their livelihoods and decrease their quality of life.
Shifts in Energy, Infrastructure, and Natural Resource Management
UNEP’s report outlines ways to achieve emission reduction targets, stressing the need to switch to renewable energy sources like solar and wind. Important actions include stopping the use of fossil fuels and proactively addressing issues in transport, manufacturing, and construction, which are vital for sustainable climate solutions.
The report also supports “natural climate solutions,” such as enhancing forest conservation, improving energy efficiency, and safeguarding carbon sinks in oceans and forests.
Challenges and Need for Global Cooperation
UNEP warns that achieving these goals will require unprecedented levels of international cooperation despite the roadmap provided.
The G20 nations are high-emitting countries and have the potential to make the most significant impact, but their engagement is essential for the global community to achieve the scale of change required.
Currently, the major emitters are the G20 nations, and these countries must commit to systemic policy changes, financial support, and enhanced climate targets.
UNEP urges developed nations to assist emerging economies through funding and technology transfer, ensuring they can participate in and benefit from a global low-carbon transition.
The COP29 Conference is A Turning Point
The upcoming COP29 conference, scheduled for 11-22 November in Baku, Azerbaijan, presents a critical opportunity for countries to renew their climate commitments and establish updated Nationally Determined Contributions (NDCs).
COP29 will serve as a testing ground for international alignment on climate action, allowing nations to reaffirm their commitment to more rigorous climate goals with the 1.5°C threshold at stake. The report anticipates that countries will arrive at COP29 with a renewed focus on limiting warming, using the gathering as a platform to solidify plans that align with the Paris Agreement.
New Zealand’s Climate Opportunity
The UNEP report presents a chance for New Zealand’s business leaders to enhance climate resilience through sustainable investments and innovative solutions. Kiwi businesses have the potential to lead in renewable energy development, particularly in sectors like agriculture.
Organisations should be investing in clean technology and low-carbon solutions to meet future regulatory requirements and opens doors to new markets increasingly prioritising sustainability.
Kiwi business leaders can take proactive steps to reduce their carbon footprint by transitioning to renewable energy sources, improving energy efficiency, and participating in reforestation or conservation initiatives.
Furthermore, investing in sustainable supply chains can help businesses align with international sustainability standards and meet consumer demand for environmentally friendly products. For Kiwi leaders, adopting these strategies could enhance their global competitiveness, especially as the country works towards its own climate goals within the framework of international agreements.