Technology, finance, international cooperation – critical to accelerate climate action
The window of opportunity to secure a liveable and sustainable future for all is rapidly closing, the Intergovernmental Panel on Climate Change (IPCC) latest climate action report states.
The synthesis report, which is aimed to provide an overview of the current state of knowledge on climate science, states that global temperatures reached 1.1oC above 1850-1900 in the decade 2011-2020 – higher over land at 1.6oC compared with over the oceans 0.9oC.
At the same time global greenhouse gas emissions also have continued to increase, with human related emissions estimated at 59GtCO2e in 2019, which is about 12% higher than in 2010 and 54% higher than in 1990 – and with the largest share and growth in CO2 from fossil fuel combustion and industrial processes followed by methane.
Indeed the average greenhouse gas emissions in the decade from 2010 to 2019 were higher than in any previous decade on record, despite the rate of growth being lower than the previous decade (1.3% vs 2.1%).
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The report goes on to state that continued greenhouse gas emissions will lead to increasing global warming, with every increment intensifying multiple hazards such as extremes in temperature and precipitation.
However, deep, rapid, and sustained reductions in greenhouse gas emissions would lead to a discernible slowdown in global warming within around two decades, and also to discernible changes in atmospheric composition within a few years.
Moreover, if warming exceeds a certain level, e.g. the commonly accepted 1.5oC, it could be gradually reduced with sustained net negative global CO2 emissions.
Mitigation and adaptation
The report says that rapid and far-reaching transitions across all sectors and systems are necessary to achieve the deep and sustained emissions reductions to secure a liveable and sustainable future for all.
For example, in the energy system large contributions to emissions reductions with costs less than US$20/tCO2e come from solar and wind energy, energy efficiency improvements and methane emissions reductions.
There are feasible adaptation options that support infrastructure resilience, reliable power systems and efficient water use for existing and new energy generation systems.
Energy generation diversification, e.g. via wind, solar, small scale hydropower, and demand side management, e.g. storage and energy efficiency improvements, can increase energy reliability and reduce vulnerabilities to climate change.
Climate responsive energy markets, updated design standards on energy assets according to current and projected climate change, smart grid technologies, robust transmission systems and improved capacity to respond to supply deficits have high feasibility in the medium to long-term, with mitigation co-benefits.
Overall, effective climate action is enabled by political commitment, well-aligned multilevel governance, institutional frameworks, laws, policies and strategies and enhanced access to finance and technology.
While there is sufficient global capital to close the global investment gaps, there are barriers to redirect capital to climate action.
Enhancing technology innovation systems also can provide opportunities to lower emissions growth, create social and environmental co-benefits and achieve other sustainable development goals.
Public policies can support training and R&D, complemented by both regulatory and market-based instruments that create incentives and market opportunities.
International cooperation is thus a critical enabler for achieving ambitious climate change mitigation, adaptation and climate resilient development.
“Enhancing international cooperation on finance, technology and capacity building can enable greater ambition and can act as a catalyst for accelerating mitigation and adaptation, and shifting development pathways towards sustainability.”
Responses
Responses to the report, the sixth assessment by the IPCC since its establishment in 1988 – and of which at time of writing only the summary for policymakers has been published – have been widespread.
Among these UN Secretary-General Antonio Guterres described it as a “survival guide for humanity”, while Frans Timmermans, who is leading the European Green Deal, described it as “unequivocal about the grave consequences the climate crisis already has”.
With COP28 forthcoming near year end, the report is likely to form the basis for much of the discussion in the lead up and at the event, with the COP presidency having promised undertaking “the first ever global stocktake since the Paris Agreement”.
