The 2024 edition of the United Nations Environment Programme's (UNEP) Emissions Gap Report reveals alarming data: global greenhouse gas (GHG) emissions hit 57.1 gigatons of CO2 equivalent in 2023, a 1.3% increase from 2022 levels. Despite mounting climate rhetoric, the reality is stark—there is a massive gap between climate promises and the actions needed to limit global warming to 1.5°C.

To meet this target, global emissions must be reduced by 42% by 2030 compared to 2019 levels. However, current national commitments fall drastically short, putting the world on track for a much higher 2.6°C warming by the end of the century. The report stresses that urgent, enhanced mitigation action is critical. Without this, the 1.5°C target will soon be out of reach, replaced by the more dangerous 2°C threshold.

The report highlights the role of renewable energy, particularly solar and wind, in closing the emissions gap. These technologies could deliver 27% of the necessary emission reductions by 2030. But to achieve this, a sixfold increase in global mitigation investment is needed. The G20 countries, responsible for 77% of global emissions, must take the lead by stepping up their climate action plans.

UNEP Executive Director Inger Andersen stressed the need for immediate action, warning, "The sooner we strike for a low-carbon future, the sooner we protect lives, economies, and biodiversity."

As the world heads toward COP29 in Baku, Azerbaijan, the message from the Emissions Gap Report is clear: we need a global mobilization on a scale never seen before.

Find the report here.