Failing in the fight against climate change
According to IMF data, efforts to reduce globally the greenhouse gas emissions (GHG) are failing. In 2021, GHGs have reached a new historical record, increasing globally by 6.4%, compared to the reduction observed in 2020 (-4.6%) due to restrictions due to the pandemic.
- Time is running out: The article remarks that according to the Intergovernmental Panel on Climate Change limiting atmospheric warming to the key level of around 1.5 degrees Celsius requires global greenhouse gas emissions to peak by 2025 at the latest.
- The rise was across all sectors of economic activity: Emissions from the manufacturing and the energy sectors contributed the most to recent global increases while increases from transportation and households were more muted last year as the pandemic weighed on global mobility.