Global weather and climate extremes are being impacted by climate change caused by humans, resulting in extensive harm to both land and people.

Present greenhouse gas (GHG) emissions have the potential to contribute to a rise in global warming, which could surpass 1.5°C by the years 2030 and 2035. Without substantial policy adjustments, the current rate of warming (around 1.1°C) could accelerate to 3.2°C by 2100. The Climate Change 2023 report emphasizes that as global warming continues, the dangers and negative effects of climate change will intensify.

In comparison to 2019 levels, emissions must be reduced by a minimum of 43% by 2030 and 60% by 2035 in order to stay within the 1.5°C threshold. The report by the Intergovernmental Panel on Climate Change (IPCC) emphasizes that the most impoverished and susceptible populations, particularly in Africa and least-developed nations, will experience the most severe consequences of climate change, which will further worsen poverty and inequality. The economic advantages of restricting global warming to 2°C surpass the expenses associated with mitigation. Nonetheless, the existing funding for climate mitigation is inadequate to attain the desired results of restricting global warming to a level below 2°C or 1.5°C. However, public and private funding for fossil fuels continues to surpass that allocated to climate adaptation and mitigation. A concerted effort from communities, governments, enterprises, and civil society is necessary to combat climate change. Critical are demand-side measures, the transition from fossil fuels to low- or zero-carbon energy sources, and increased efficiency. Diverse governments and organizations, including the World Economic Forum, are actively pursuing this transition by transforming agricultural systems, decarbonizing heavy industry and long-distance transportation, and promoting renewable energy.

The net-zero transition will necessitate climate investments amounting to $125 trillion by 2050. Despite not having yet reached this level of investment, momentum is accumulating. The global expenditure on low-carbon energy technologies increased by 27% to $755 billion in 2021. The green transition offers numerous advantages that extend beyond its immediate mitigation of the impacts of climate change. As per the International Labour Organization, this could generate 24 million additional positions worldwide by 2030. And safeguard the 1.2 billion individuals employed in the tourism, fishery, forestry, and agriculture sectors who are directly dependent on a stable and healthy environment. According to the International Renewable Energy Agency, employment in the renewable energy sector increased by 700,000 between 2020 and 2021, reaching 12.7 million individuals. At this time, climate action is crucial for promoting sustainable development. Inaction could reduce the global GDP by as much as 18% over the following three decades, as calculated by the Swiss Re Institute.

Rapidly diminishing is the window of opportunity to ensure a sustainable and habitable future. Urgent and coordinated action is required to prevent the most severe repercussions of climate change and guarantee a fair and impartial transition. The forthcoming seven years will have a critical impact on the trajectory of the Earth's climate in the future.

A significant new Acceleration Agenda, as delineated by UN Secretary-General António Guterres, aims to achieve global net-zero electricity generation by 2040 and in developed economies by 2035, respectively. Furthermore, it entails an immediate cessation of all licensing and funding activities associated with new oil and gas projects, a transition away from subsidizing fossil fuels towards promoting a just energy transition, and an acceleration of initiatives aimed at ensuring climate justice for communities directly affected by climate change. Urgent climate action is required in order to achieve the halving of emissions by 2030. The forthcoming years will have a profound impact on the trajectory of our planet, necessitating urgent, audacious, and cooperative endeavors from every sector of society. It is imperative that world leaders, policymakers, and citizens take immediate action to mitigate the adverse effects of climate change and foster a future that is both sustainable and equitable for all.

Global weather and climate extremes are being impacted by climate change caused by humans, resulting in extensive harm to both land and people. Present greenhouse gas (GHG) emissions have the potential to contribute to a rise in global warming, which could surpass 1.5°C by the years 2030 and 2035. Without substantial policy adjustments, the current rate of warming (around 1.1°C) could accelerate to 3.2°C by 2100. The Climate Change 2023 report emphasizes that as global warming continues, the dangers and negative effects of climate change will intensify.

In comparison to 2019 levels, emissions must be reduced by a minimum of 43% by 2030 and 60% by 2035 in order to stay within the 1.5°C threshold. The report by the Intergovernmental Panel on Climate Change (IPCC) emphasizes that the most impoverished and susceptible populations, particularly in Africa and least-developed nations, will experience the most severe consequences of climate change, which will further worsen poverty and inequality. The economic advantages of restricting global warming to 2°C surpass the expenses associated with mitigation. Nonetheless, the existing funding for climate mitigation is inadequate to attain the desired results of restricting global warming to a level below 2°C or 1.5°C. However, public and private funding for fossil fuels continues to surpass that allocated to climate adaptation and mitigation. A concerted effort from communities, governments, enterprises, and civil society is necessary to combat climate change. Critical are demand-side measures, the transition from fossil fuels to low- or zero-carbon energy sources, and increased efficiency. Diverse governments and organizations, including the World Economic Forum, are actively pursuing this transition by transforming agricultural systems, decarbonizing heavy industry and long-distance transportation, and promoting renewable energy.

The net-zero transition will necessitate climate investments amounting to $125 trillion by 2050. Despite not having yet reached this level of investment, momentum is accumulating. The global expenditure on low-carbon energy technologies increased by 27% to $755 billion in 2021. The green transition offers numerous advantages that extend beyond its immediate mitigation of the impacts of climate change. As per the International Labour Organization, this could generate 24 million additional positions worldwide by 2030. And safeguard the 1.2 billion individuals employed in the tourism, fishery, forestry, and agriculture sectors who are directly dependent on a stable and healthy environment. According to the International Renewable Energy Agency, employment in the renewable energy sector increased by 700,000 between 2020 and 2021, reaching 12.7 million individuals. At this time, climate action is crucial for promoting sustainable development. Inaction could reduce the global GDP by as much as 18% over the following three decades, as calculated by the Swiss Re Institute.

Rapidly diminishing is the window of opportunity to ensure a sustainable and habitable future. Urgent and coordinated action is required to prevent the most severe repercussions of climate change and guarantee a fair and impartial transition. The forthcoming seven years will have a critical impact on the trajectory of the Earth's climate in the future.

A significant new Acceleration Agenda, as delineated by UN Secretary-General António Guterres, aims to achieve global net-zero electricity generation by 2040 and in developed economies by 2035, respectively. Furthermore, it entails an immediate cessation of all licensing and funding activities associated with new oil and gas projects, a transition away from subsidizing fossil fuels towards promoting a just energy transition, and an acceleration of initiatives aimed at ensuring climate justice for communities directly affected by climate change. Urgent climate action is required in order to achieve the halving of emissions by 2030. The forthcoming years will have a profound impact on the trajectory of our planet, necessitating urgent, audacious, and cooperative endeavors from every sector of society. It is imperative that world leaders, policymakers, and citizens take immediate action to mitigate the adverse effects of climate change and foster a future that is both sustainable and equitable for all.

References:

• IPCC, 2023: Summary for Policymakers. In: Climate Change 2023: Synthesis Report. Contribution of Working Groups I, II and III to the Sixth Assessment Report of the Intergovernmental Panel on Climate Change [Core Writing Team, H. Lee and J. Romero (eds.)]. IPCC, Geneva, Switzerland, pp. 1-34, doi: 10.59327/IPCC/AR6-9789291691647.001

• Guterres, A. (2023) ‘leaders of the G20’s rich nations must aim for net zero “as close as possible” to 2040 while emerging nations should set 2050 targets’ Available from:

  https://www.climatechangenews.com/2023/03/20/un-tells-governments-to-fast-forward-net-zero-targets/ https://www.climatechangenews.com/2023/03/20/un-tells-governments-to-fast-forward-net-zero-targets/  Retrieved on 5 December, 2023.

• ILO (2018) ‘24 million jobs to open up in the green economy’ World Employment and Social Outlook 2018. Available from: https://www.ilo.org/global/about-the-ilo/newsroom/news/WCMS_628644/lang--en/index.htm Retrieved on 5 December 2023.
• IRENA (2022) ‘Renewable Energy Jobs Hit 12.7 Million Globally’ Available from: https://www.irena.org/News/pressreleases/2022/Sep/Renewable-Energy-Jobs-Hit-12-7-Million-Globally Retrieved on 5 December, 2023.