2015 is a crucial year for climate change resilience. In December, the 21st United Nations Climate Change Conference (COP21) is going to take place in Paris. For the sake of our future and the worldâ€™s, it will be necessary to reach an enforceable international agreement on the restraint of CO2 emissions to further 1000 Gt (gigatonnes of carbon dioxide) by 2050 to keep global warming below 2Â°C. Given that we are allowing some warming, the legally binding CO2 emission-reduction legislation must include a financing mechanism in place to help underdeveloped countries implement adaptations measures to a changing climate. Climate change is a global issue that threatens not only the environment where we live, but also our global security and economic prosperity whilst it deepens inequality issues . Therefore, it is important that small and big players join forces to scale up climate response.
Nevertheless, some of the largest economies â€“recognized as the G7 group- are responsible for 59% of historic global carbon dioxide emissions and 30% of current global emissions. Hence there are high expectations for how the â€śworld leadersâ€ť address climate action. On June, the leaders of Canada, Germany, Great Britain, France, Italy, Japan and United States (the G7 members) had their annual summit in Bonn. They pledged to phase out all fossil fuels worldwide. Also, they committed to provide climate risk insurance for vulnerable communities. But, how would this be implemented? Would they keep their previous promise of ÂŁ100 billion in climate finance by 2020?
To answer this questions is important to look at the G7 submittedIntended Nationally Determined Contributions (INDC). The INDC Â are the countriesâ€™ pledges that state the rate of action to tackle climate change after 2020. Climate Action Tracker have been assessing the submitted INDCs and rating them as inadequate, medium and sufficient taking into consideration the countriesâ€™ emission reduction potential, their effort sharing (â€śfairâ€ť contribution to GHG emissions reductions) and the decarbonization needed to maintain the warming below 2Â°C. The Climate Action Tracker team rated Bhutan INDC as â€śrole modelâ€ť since it set the goal of remaining carbon neutral, which is both feasible â€“given that current sequestration rates donâ€™t decline over time- and more ambitious than what is considered to be fair.
The G7 target is to reduce 40-70% emissions by 2050. The European Union (EU), which includes France, Germany, Italy and the UK, plans to reduce 40% below 1990 levels in 2025. The EU was rated as â€śmediumâ€ť since it lacks transparency of the targeted sectors for offsetting. The United States INDC was rated as â€śmediumâ€ť too, because of the feasibility of their target to reduce 26-28% emissions of 2005 levels but it will need further stringent reductions to be on the 2Â°C pathway accounting for their historic responsibility. Japan and Canada were the lowest scores in the group. The Canada INDC proposes a reduction of 30% emissions from 2005 levels in 2025; it was rated as â€śinadequateâ€ť because this country will need at least a reduction of 73% of 2005 levels. Japan is still preparing its 2030 targets for its INDC but the Climate Action Tracker team determined that the expected reduction targets of 20% below 2013 levels by 2030 are â€śinadequateâ€ť because of lacking ambition and the team adds â€śif all countries adopted this level of ambition, warming would likely exceed 3-4oC in the 21stÂ centuryâ€ť. The G7 decarbonization goal is ambitious and sends a clear message of the importance of low-carbon economies and the toll fossil fuels is taking on the planet, but by now we need more.
Sum your voice to the #CALL4CLIMATE action to ask the world leader to show climate leadership. Infographic Below.