With the continent of Africa not being the largest source of global emissions, questions are not being asked as to what else is being done there to impact our climate. This report is indicative of that underlying problem.
The much anticipated COP25 came to a close last Sunday with a lack of cohesive action. Despite the release of 2018 statistics revealing global warming is still on the up, the biggest polluting nations failed to present their planned increased efforts to stem climate change. While a compromise was reached on smaller elements, the anticipated updated plans of the biggest nations like China, India, and the US, was pushed back to next year’s COP26 in Glasgow, as was the decision around a global carbon market.
Despite renewed promises of change, countless calls for the end of burning of fossil fuels, greener solutions for the transport, agriculture, mining, and energy industries and an increase in the number of electric vehicles on the market, global carbon figures have steadily increased.
As pressure mounts on the aviation industry to create more sustainable ways to do business, EasyJet has become the latest airline to pledge to fly carbon neutral. As concerns rise within the industry that people will stop flying in an effort to reduce their carbon footprint, a host of airlines including British Airlines, Air Canada, and Air New Zealand, are now offering carbon offsets as a way to combat the emissions their domestic flights are creating.
Last month, the IMF released its Fiscal Monitor, a biannual report on how to mitigate climate change. The report argued that it is possible to switch from a reliance on fossil fuels to cleaner energy and still sustain vigorous economic growth and generate employment. However, for this to take place, countries needed to distribute the costs and benefits in a manner that supported those that really needed it.
In last month’s article, we reported on which countries were the biggest emitters of greenhouse gases and CO2. This week, we’re taking a closer look at global emissions. It is not surprising that the transport industry is currently the biggest source of emissions.
At the start of the month, we reported on the fact that after four years of deliberation, the Russian government appeared to finally give support to the Paris Agreement. Not a complete ratification but on the way to it, by all accounts from Russian sources. For many, it felt like a strange turn of events in the face of President Vladimir Putin’s strong denials of global warming, while also proving a step in the right direction toward global consensus on climate change action.
The practice of offsetting carbon emissions has been long utilized by large corporations, businesses, and individuals alike. From purchasing carbon credits to making personalized payments to climate change projects in developing countries, carbon offsetting has been viewed as a viable option by many in the battle against global warming.
According to a yearly in-depth report from the World Bank in June 2019, 57 countries have committed to implementing or scheduling carbon pricing initiatives, including a carbon tax. So far, 46 national and 28 subnational jurisdictions have adopted carbon pricing to help reduce their greenhouse gas emissions and keep in line with their 2030 objectives and the Paris Agreement. And since last year’s report, 11 more countries have committed to scheduling carbon pricing for implementation.
This is the start of a monthly series on global carbon emissions and a review of the countries with the biggest emissions and whether they are delivering on their promises of the Paris Agreement.
