Developed countries to overshoot carbon emissions goal, says study

Source: The post is based on the article “Developed countries to overshoot carbon emissions goal, says study” published in“The Hindu” on 30th October 2023

Why in the News?

A Delhi-based think tank Council for Energy Environment and Water (CEEW) has published a study titled “Revealing Developed Countries’ Emission Trajectories”.

What are the key findings of the study?

Developed countries emissions: Between 1990 and 2020, developed countries managed to reduce greenhouse gas emissions by 20% aligning with their collective target.

– However, a substantial part of this reduction occurred due to events like the COVID-19 pandemic in 2020 and changes during the mid-1990s when former Soviet countries transitioned to market economies.

Share of Developed Countries’ Emissions: Developed countries are responsible for three-fourths of current carbon emissions.

Nationally Determined Contributions (NDCs): Climate targets for 2030 also known as NDCs for developed countries represent a 36 per cent reduction in emissions compared to 2019.

– This falls short of the 43 per cent reduction needed on the global average to limit warming to 1.5°C.

– Moreover, developed countries are projected to emit 38% more carbon by 2030 than their commitments suggest.

– Around 83% of this overshoot in emissions will be caused by the U.S, Russia and European Union.

– Only two Parties to the Paris Agreement, Belarus and Norway are projected to meet their 2030 NDCs.

Net Zero emissions: To achieve net-zero emissions by 2050, developed nations aim to significantly ramp up emission reductions post-2030. 

– However, even if they achieve net-zero by 2050, they are projected to consume a significant portion, around 40-50%, of the remaining carbon budget.

UPSC Syllabus: Climate Change