According to United Nations Environment Programme (UNEP), the fall of carbon emissions by 7 percent in 2020 might have a negligible impact on global warming if there is no hasty change away from fossil fuels.
The Paris agreement requires its signatories to limit warming to 2 degree Celsius. The impact of global warming is nearly felt everywhere with increased droughts, deadly storms, hurricanes, floods, wildfires and the melting of icebergs in both poles.
UN warned that the increased fossil fuel production will pose a major threat to global warming. The production of gas, oil and coal must decline by six percent every year so as to limit warming to 1.5 degrees Celsius.
UN, UK and France convened a virtual ‘Climate Ambition Summit’ on December 12 to celebrate the fifth anniversary of the Paris Accord. However, its celebration was meant for the developed nations as poor countries are not yet out of the woods due to frequent calamities arising from the negative effects of climate change.
All signatories to the Paris accord consented to make regular national determined contributions (NDCs) to curtail national emissions. The updated targets will be due by the end of 2020 and only 16 countries that are responsible for 4.6 percent of global emissions have so far submitted ambitious targets.
Most developed countries committed to achieve net-zero emissions by 2050 lack close-term targets. According to multiple reports, in 2010 developed countries pledged to contribute $100 billion annually to developing countries for the battle against climate change. However, the pledge is still a pipeline dream as the target annual contribution is yet to be achieved.
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