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G20 emissions pledges are far too low

September 1, 2016

G20 emissions pledges are far too low

September 1, 2016, by Alex Kirby

The promises made by the G20 group of the world’s leading economies to meet the goals reached in last December’s Paris Agreement on emissions reduction are nowhere near adequate, according to new analysis by a global consortium.

In a comprehensive assessment, they identify the G20 climate challenge: it needs by 2030 to reduce its emissions of greenhouse gases by six times more than it has pledged so far.

It needs also to move more vigorously to a green, low-carbon economy. And if the G20 goes ahead with its plans for new coal-fuelled power plants, that will make it “virtually impossible” to keep global warming below 2°C, the initial target agreed at the Paris climate conference.

The analysts’ report is released in Beijing today ahead of the G20 summit in the Chinese city of Hangzhou on 4 and 5 September.

Shared mission

It has been produced by Climate Transparency, which describes itself as “an open global consortium with a shared mission to stimulate a ‘race to the top’ in climate action through enhanced transparency”.

Contributors include NewClimate Institute, whose flagship projects include Climate Action Tracker, Germanwatch, which publishes an annual Global Climate Risk Index, the Overseas Development Institute, the Humboldt-Viadrina Governance Platform, and a range of other international experts.

Climate change and green finance are high on this year’s G20 agenda, so the assessment examines a range of indicators − including investment attractiveness, renewable energy investment, climate policy, the carbon intensity of the energy and electricity sectors of the G20 economies, fossil fuel subsidies, and climate finance.

Read more at Climate News Network.

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