Emissions Gap Report 2022

• The report titled “Emissions Gap Report 2022-The Closing Window” was released recently by the United Nations Environment Programme (UNEP).

• The report warned that the world is falling short of achieving the goals set under the 2015 Paris Agreement and recommended an urgent system-wide transformation and GHG emission reduction by unprecedented levels in the next 8 years.

• The current policies will lead to a 2.8°C temperature rise by 2100. Implementation of current climate pledges will only reduce this to a 2.4 to 2.6°C temperature rise by the end of this century.

• GHG emissions must be reduced by 45 percent by 2030 to achieve the Paris Agreement goals. However, the report shows that the emissions are at dangerous and record-high levels and are still rising.

• The latest report recommended remedial actions in 6 areas – electricity supply, industry, transport and building sectors, and food and financial systems.

• It estimates that the global transformation to a low-carbon economy would require 4 to 6 trillion USD in investment each year.