Berliner Boersenzeitung - Nations to submit boosted climate plans: what's at stake?

EUR -
AED 4.236991
AFN 75.572023
ALL 93.392402
AMD 421.307604
AOA 1057.951276
ARS 1726.537236
AUD 1.637674
AWG 2.076675
AZN 1.941269
BAM 1.956764
BBD 2.320123
BDT 142.600268
BHD 0.43441
BIF 3442.49633
BMD 1.153709
BND 1.478128
BOB 13.990894
BRL 5.914602
BSD 1.151958
BTN 109.937173
BWP 15.664583
BYN 3.395144
BYR 22612.686665
BZD 2.316822
CAD 1.623025
CDF 2607.381253
CHF 0.934164
CLF 0.026742
CLP 1055.908837
CNY 7.791628
CNH 7.786275
COP 3698.83561
CRC 522.352868
CUC 1.153709
CUP 30.573275
CVE 110.319361
CZK 24.198812
DJF 205.129302
DKK 7.475111
DOP 67.182523
DZD 153.331351
EGP 57.42688
ERN 17.305628
ETB 184.737559
FJD 2.554253
FKP 0.857463
GBP 0.857119
GEL 3.01134
GGP 0.857463
GHS 13.49565
GIP 0.857463
GMD 85.374628
GNF 10116.985262
GTQ 8.78633
GYD 241.168839
HKD 9.049026
HNL 30.976643
HRK 7.535794
HTG 150.614217
HUF 362.341791
IDR 20674.456379
ILS 3.462354
IMP 0.857463
INR 109.795612
IQD 1511.934994
IRR 1586493.405669
ISK 141.786352
JEP 0.857463
JMD 182.138172
JOD 0.818017
JPY 182.115769
KES 149.266919
KGS 100.891772
KHR 4663.237235
KMF 493.786874
KRW 1644.438406
KWD 0.356934
KYD 0.959973
KZT 542.677411
LAK 26054.838825
LBP 103156.737553
LKR 386.770586
LRD 207.932461
LSL 18.672752
LTL 3.406601
LVL 0.697866
LYD 7.343352
MAD 10.733389
MDL 20.164937
MGA 4972.48339
MKD 61.555332
MMK 2421.982963
MNT 4151.271303
MOP 9.306807
MRU 46.251989
MUR 53.612641
MVR 17.836387
MWK 1997.466962
MXN 19.884743
MYR 4.723165
MZN 73.715631
NAD 18.990558
NGN 1572.066382
NIO 42.390889
NOK 10.988347
NPR 175.898151
NZD 1.967898
OMR 0.443607
PAB 1.151968
PEN 3.904721
PGK 5.102273
PHP 70.152972
PKR 320.55809
PLN 4.305929
PYG 6868.324915
QAR 4.199269
RON 5.249262
RSD 117.397979
RUB 93.162004
RWF 1692.490374
SAR 4.329325
SBD 9.312217
SCR 15.530153
SDG 692.787515
SEK 10.995661
SGD 1.479441
SLE 27.573691
SOS 658.318688
SRD 43.715183
STD 23879.43669
STN 24.511866
SVC 10.079967
SZL 18.972765
THB 38.320457
TJS 10.632539
TMT 4.049517
TND 3.384068
TRY 54.877415
TTD 7.820854
TWD 37.31206
TZS 3054.440924
UAH 51.509235
UGX 4314.125836
USD 1.153709
UYU 46.413072
UZS 13781.048421
VES 870.139933
VND 30284.271358
VUV 137.942013
WST 3.157414
XAF 656.274699
XAG 0.018723
XAU 0.000277
XCD 3.117955
XCG 2.07615
XDR 0.816195
XOF 656.274699
XPF 119.331742
YER 274.986839
ZAR 18.915511
ZMK 10384.756882
ZMW 21.800554
ZWL 371.493667
  • CMSC

    0.0300

    21.79

    +0.14%

  • RIO

    3.1100

    99.01

    +3.14%

  • NGG

    0.5600

    80.42

    +0.7%

  • RYCEF

    0.2000

    20.4

    +0.98%

  • BCE

    0.2100

    22

    +0.95%

  • GSK

    0.0200

    51.53

    +0.04%

  • BCC

    3.4600

    86.49

    +4%

  • BTI

    -0.4400

    59.12

    -0.74%

  • RBGPF

    -1.2500

    69.74

    -1.79%

  • CMSD

    0.0000

    22.02

    0%

  • JRI

    -0.1000

    12.72

    -0.79%

  • VOD

    0.0800

    15.69

    +0.51%

  • AZN

    -2.3500

    155.62

    -1.51%

  • RELX

    0.6400

    36.8

    +1.74%

  • BP

    -1.8200

    42.44

    -4.29%

Nations to submit boosted climate plans: what's at stake?
Nations to submit boosted climate plans: what's at stake? / Photo: Giuseppe CACACE - AFP

Nations to submit boosted climate plans: what's at stake?

Nations have begun setting carbon-cutting targets for the decade ahead, and how ambitious these pledges are could make or break global efforts to avoid dangerous levels of climate change.

Text size:

Nearly 200 countries are supposed to publish updated climate plans by early February, but so far only three have done so.

On Wednesday, the UK became the latest, announcing during the COP29 climate summit in Azerbaijan that it would raise its target to cut greenhouse gas emissions.

All eyes will be on other big polluters like China, India and the United States, though future US climate action is unclear following Donald Trump's election.

- Why do they matter? -

The world has agreed to try and limit global warming to 1.5 degrees Celsius above pre-industrial levels, but is nowhere near on track.

Above this threshold, scientists say humanity risks disastrous consequences from volatile weather to major ecological "tipping points" at land and sea.

Last month, the United Nations warned that even if all existing plans are implemented in full, temperatures would rise 2.6C by the century's end, a catastrophic outcome.

The UN says the next round of climate plans must show a "quantum leap" in ambition to avert the worst.

The G20 -- which accounts for 77 percent of total greenhouse gas emissions -- is under particular pressure to step up.

- Early movers -

Just before COP29 opened in Azerbaijan, the United Arab Emirates announced a 47 percent reduction in emissions by 2035 compared with 2019 in its updated climate plan.

Observers said the roadmap failed to account for exported emissions -- including those from its sales of crude oil abroad.

Next year's UN climate host, Brazil, has partly unveiled its plan, increasing its emissions reduction target from a 59 percent cut by 2035, from 2005 levels, to a 67 percent reduction.

It is expected to unveil a more complete plan during COP29.

Plans from other major emitters, like the European Union and China, are not expected until next year.

And the current US government could soon outline Washington's new pledge, despite questions over Trump following through once in office.

David Waskow, of the World Resources Institute, said it would help guide American cities, states and businesses wishing to continue climate action under Trump.

"It also sends an important signal internationally, a set of benchmarks for what the US ought to do," he added.

- What do countries need to do? -

By signing the Paris accord, nearly 200 nations agreed to halt rising temperatures "well below 2C" and strive for the safer goal of 1.5C.

But it did not prescribe how to get there.

The deal left it up to countries to voluntarily chart their own plans and targets, known as Nationally Determined Contributions (NDCs).

These include emission reduction targets and measures to achieve them, such as rolling out renewable energy, electrifying transport, and ending deforestation.

There is no set template for countries to follow but richer countries -- historically the largest emitters -- have a responsibility to pledge the deepest emission cuts.

The plans must be reviewed every five years, with each update supposed to be more ambitious than the last.

This time around countries are expected to improve their 2030 targets and outline economy-wide action they will take to 2035.

- What's the aim? -

An agreement at last year's COP28 climate summit "encouraged" countries to come forward with plans aligned with halting warming to 1.5C.

To have a hope of meeting that goal, emissions must be slashed 42 percent by 2030 and 57 percent by 2035, the UN's Environment Programme said last month.

Currently, however, emissions are continuing to rise.

Keeping 1.5C on track would require a collective effort "only ever seen following a global conflict", it added.

Without pulling together "on a scale and pace never seen before... the 1.5C goal will soon be dead," said UNEP executive director Inger Andersen.

The big moment for assessing progress towards the 1.5C goal comes at a crunch COP30 climate summit in Brazil next year.

- What about fossil fuels? -

Scientists and the International Energy Agency have said that developing new fossil fuel projects is incompatible with halting warming to 1.5C.

But many fossil fuel producing countries argue that new oil and gas projects will be needed as the world transitions to net zero emissions.

Countries are under pressure to outline in their updated plans how they intend to reduce their reliance on fossil fuels, something all nations agreed at last year's COP.

(S.G.Stein--BBZ)