A total of 415 global investors with $32 trillion in assets under management have this week called on leaders at the United Nation’s COP24 global climate change conference currently underway in Katowice, Poland, to address the climate change “ambition gap” by strengthening their Nationally Determined Contributions to meet the goals of the Paris Agreement.
A new report published this week has determined that 82% of the G20’s energy supply is still sourced from fossil fuels and none of the countries’ climate pledges are on a 1.5˚C-compatible pathway, contributing to a current trend which will see global warming of 3.2˚C unless G20 nations halve their emissions by 2030.
There are only 16 countries that have currently set domestic targets for reducing their greenhouse gas emissions that are ambitious enough to be considered in line with their pledged contributions to the Paris Agreement, according to new research published this week.
A new report from the International Renewable Energy Agency has concluded that there is significant untapped potential for countries to “significantly” increase their renewable energy ambition within Nationally Determined Contributions when they are revised in 2020, helping to accelerate deployment in line with the goals and needs of the Paris Climate Agreement.
