The expansion of renewable energy and EVs are expected to limit global climate pollution growth this year, but countries’ commitments to slashing greenhouse gas emissions are “woefully inadequate” to halt global warming. The reports on global emissions, from the International Energy Agency, and on national emissions reductions commitments, (known as Nationally Defined Contributions, or NDCs), from the World Resources Institute, were both released Wednesday.
A Tuesday report from Ember and E3G also found new EU renewables this year alone have saved the bloc €11 billion ($10.8 billion) in avoided gas costs since Russia invaded Ukraine nearly eight months ago. In order to limit global temperature increases to 1.5°C (2.7°F), the target set in the 2015 Paris Agreement, global emissions must fall by 43% below 2019 levels by 2030, but if countries meet all their current NDC pledges, emissions will drop just 7% over that period, the WRI report found. (IEA: Reuters, Protocol, The Hill, Axios; WRI: Reuters, Bloomberg $; BOTH: AP; Ember & E3G: The Verge)