Emissions across G20 countries are on the rise again, a new report found, making the Paris Agreement goal to keep global warming below 1.5°C a distant dream.
Energy-related emissions had decreased by 6 percent across G20 countries in 2020, but are projected to rebound by 4 percent in 2021. The group, which includes industrialised and emerging nations as well as the European Union, is collectively responsible for 75 percent of global greenhouse gas emissions.
There are some silver linings, the report points out. Notably, the rise in the use of renewable energy, whose share in the energy mix has increased by 20 percent between 2015 and 2020. In the last five years, most G20 countries have also put in place some form of carbon pricing – a cost imposed on polluters to encourage them to reduce their emissions.
“The bottom line of what we've seen doing the research for this year's report is that while there have been a number of good developments in a number of financial areas, for some countries more than others … [these have not been] good enough, not in line with the Paris Agreement goals. And certainly, the pace of these developments has been falling short of the urgency of the issues at hand,” she added.
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