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It means Governments ending the funding of coal, not just abroad, but at home. In most cases, renewables are already far cheaper. That means moving investments and subsidies from fossil fuels to renewables - now. It sets out viable, financially sound options in every sector that can keep the possibility of limiting warming to 1.5☌ alive.įirst and foremost, we must triple the speed of the shift to renewable energy. Today’s report is focused on mitigation - cutting emissions. Such investments will soon be stranded assets - a blot on the landscape and a blight on investment portfolios.
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Investing in new fossil fuels infrastructure is moral and economic madness. But, the truly dangerous radicals are the countries that are increasing the production of fossil fuels.
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Climate activists are sometimes depicted as dangerous radicals. And most major emitters are not taking the steps needed to fulfil even these inadequate promises. The science is clear: to keep the 1.5☌ limit agreed in Paris within reach, we need to cut global emissions by 45 per cent this decade.īut, current climate pledges would mean a 14 per cent increase in emissions. But, the main problem - the enormous, growing emissions gap - was all but ignored. We left COP26 in Glasgow with a naïve optimism, based on new promises and commitments. They are choking our planet, based on their vested interests and historic investments in fossil fuels, when cheaper, renewable solutions provide green jobs, energy security and greater price stability. But, high‑emitting Governments and corporations are not just turning a blind eye, they are adding fuel to the flames. This is a climate emergency.Ĭlimate scientists warn that we are already perilously close to tipping points that could lead to cascading and irreversible climate impacts. Some Government and business leaders are saying one thing, but doing another. We are on a pathway to global warming of more than double the 1.5☌ limit agreed in Paris. It is what science tells us will result from our current energy policies. The extinction of a million species of plants and animals. We are on a fast track to climate disaster. It is a file of shame, cataloguing the empty pledges that put us firmly on track towards an unliveable world. This report of the Intergovernmental Panel on Climate Change is a litany of broken climate promises. Following is the text of UN Secretary-General António Guterres’ video message on the launch of the third Intergovernmental Panel on Climate Change (IPCC) report, in New York today: