Latest news with #IGCC
Observer
a day ago
- Science
- Observer
Study: World has three years left to stay below 1.5 degrees warming
Only three years are left to limit global warming to 1.5 degrees Celsius if climate-harming emissions remain at their current level, according to study by a team of over 60 international scientists published on Thursday. Scientists found that the carbon budget will be exhausted in a little more than three years - meaning the amount of carbon dioxide that can be emitted by humanity to permanently keep warming to 1.5 degrees,the limit set by the Paris Agreement to try and avoid the most catastrophic impacts of climate change. The carbon budgets to limit warming to 1.6 or 1.7 degrees could be surpassed within nine years, according to the annual Indicators of Global Climate Change (IGCC) study presented at the annual UN climate talks in the western German city of Bonn. The talks in Bonn, where the UN Climate Change Secretariat is headquartered, are seen as a critical step in shaping the global climate agenda ahead of the UN Climate Change Conference in Brazil,known as COP30, later this year. "Both warming levels and rates of warming are unprecedented," said lead author Piers Forster. "Continued record-high emissions of greenhouse gases mean more of us are experiencing unsafe levels of climate impacts," he added. "Climate policies and pace of climate action are not keeping up with what's needed to address the ever-growing impacts." Sea levels rise by over 20 centimetres Sea levels rose by an average of around 26 millimetres per year between 2019 and 2024, according to the study, meaning long-term sea level rise has more than doubled since the beginning of the 20th century. "Since 1900, the global mean sea level has risen by around 228mm," said Dr Aimée Slangen, research leader at the NIOZ Royal Netherlands Institute for Sea Research. "This seemingly small number is having an outsized impact on low-lying coastal areas, making storm surges more damaging and causing more coastal erosion, posing a threat to humans and coastal ecosystems," she added. "The concerning part is that we know that sea-level rise in response to climate change is relatively slow, which means that we have already locked in further increases in the coming years and decades." The study conducted by a team comprising over 60 international researchers aims to present the latest scientific findings on climate change and the human impact on the ecosystem. Is 1.5 degrees dead? In 2015, 195 parties adopted the legally binding Paris Agreement on climate change to limit global warming to below 2 degrees Celsius compared to pre-industrial levels, ideally to 1.5 degrees. According to the EU's Copernicus Climate Change Service, 2024 was the first year since measurements began that exceeded the 1.5 degree threshold on average worldwide. However, this does not mean that the limit set out in the Paris Agreement is out of reach, since the treaty allows for temperature deviations that are averaged over a period of at least 20 years. Regardless, experts believe it will be extremely difficult to limit global warming to 1.5 degrees, estimating that greenhouse gas emissions would have to fall by at least 43% by 2030 to achieve the feat. Large quantities of greenhouse gases would also have to be removed from the atmosphere, scientists say. But many countries are currently back pedalling on climate protection- most notably the US under President Donald Trump, who ordered his country to exit the Paris Agreement for a second time upon taking office in January. Trump already withdrew the US from the international climate accord during his first term as president, a move that was later reversed by the Biden administration.
Irish Independent
2 days ago
- Science
- Irish Independent
Three years left before best chance of managing global temperature rise is lost
A team of scientists from 17 countries including Ireland have calculated the remaining 'carbon budget' and warn it is set to run out in 2028. Their warning comes with a slew of new data that shows all the measurements of climate change moving in the wrong direction. Sea level, for example, has risen twice as fast over the last six years compared to the previous century as warming oceans expand and ice caps melt more rapidly than before. The surge is revealed in a collaboration by 61 experts from 54 universities and institutes published today. They warn that the Earth's atmosphere can take only three more years of carbon and other greenhouse gases being pumped out at today's rate before hitting a critical stage. At that point, the accumulation of warming gases is expected to be beyond what would provide a 50pc chance of keeping global temperature rise to 1.5C. Preventing temperature rise exceeding 1.5C is the aim of the landmark Paris Agreement signed by almost all the world's nations in 2015. Technically, the agreement is not broken by breaching 1.5C because it refers to that level of temperature rise being sustained over several decades. However, the scientists behind the Indicators of Global Climate Change (IGCC) initiative point out that the 1.5C mark was already exceeded in 2024 and, while this was a record-breaking year, the likelihood of it being repeated sooner and often is increasing all the time. The IGCC initiative was set up to provide annual updates on climate change in between publication of the flagship reports of the Intergovernmental Panel of Climate Change (IPCC), which are produced only every six or seven years. ADVERTISEMENT Its latest report shows rapid changes since the last report was published in 2021. Annual emissions of carbon dioxide (CO2), the most common and long-lasting greenhouse gas, rose by 1.3pc. The amount of CO2 accumulated in the atmosphere increased by 3.1pc while concentration of methane, which has a shorter lifespan but greater short-term warming impact, increased by 3.4pc. Average temperature rise grew by 13.8pc and the remaining carbon budget dwindled by 74pc – from 500 billion tonnes of CO2 to 130 billion tonnes at the start of 2025. Sea levels rose by 26mm, counting from 2019, giving an average increase of 4.3mm per year compared to an average of 1.8mm per year over the previous 120 years. 'This seemingly small number is having an outsized impact on low-lying coastal areas, making storm surges more damaging and causing more coastal erosion,' said Dr Aimee Slangen, of the Royal Netherlands Institute for Sea Research. 'The concerning part is that we know that sea level rise in response to climate change is relatively slow, which means that we have already locked in further increases in the coming years and decades.'
Scoop
05-05-2025
- Business
- Scoop
Unlocking Climate Capital: Investor Policy Priorities For The 48th Parliament's First 100 Days
Press Release – Investor Group on Climate Change The Investor Group on Climate Change will be engaging with policy-makers across the new parliament to provide more detail on these recommendations and how they will support jobs, economic growth, and reduce the economic costs of climate change. Australia's investment sector looks forward to working with Australia's new parliament on the policies that will keep building momentum towards a climate-resilient net-zero emissions economy. Quote from CEO Rebecca Mikula-Wright 'Economic damages from growing extreme climate events remain the biggest risk to super funds and other investors being able to deliver sustainable returns for their 15 million Australian members. 'Australia has all the resources we need to create new jobs and prosperity based on our abundant renewable energy resources, our clean industries, and our adaptation know-how. 'As new and continuing MPs and senators return to Canberra in the coming months, investors will be very keen to resume and accelerate the progress Australia is making towards a net zero, climate resilient economy.' Priorities To support an orderly and least-cost transition, IGCC recommends the following actions for the 48th Parliament within its first 100 days: Commit to a strong 2035 emission reduction target Setting a target within the range advised by the Climate Change Authority will help investors get the confidence they need to invest in new renewable energy and other climate solutions in Australia. Release comprehensive and just sector-by-sector plans, emissions reductions plans, and the new National Climate Risk Assessment and National Adaptation Plan. With clear sector and adaptation plans and a suite of stable policies to manage climate risks and promote climate solutions, investors will have greater confidence to deploy capital in Australia and not in other markets. Amend the Climate Change Act to include Net Zero Sector Plans, the National Adaptation Plan, and the National Climate Risk Assessment. This would provide durable national frameworks for decarbonisation, adaptation and climate risk, supporting the policy continuity across governments that builds market confidence, and encourages capital deployment into Australian mitigation and adaptation from local and international investors. The Investor Group on Climate Change will be engaging with policy-makers across the new parliament to provide more detail on these recommendations and how they will support jobs, economic growth, and reduce the economic costs of climate change. About the Investor Group on Climate Change: We are a leading network for Australian and New Zealand investors to understand and respond to the risks and opportunities of climate change. Our members include our countries' largest superannuation and retail funds, specialist investors and advisory groups. Their beneficiaries include more than 14.8 million Australians, and millions more New Zealanders. Our members manage more than $35 trillion globally. We are a not-for-profit and our work is funded by members' fees and philanthropy from supporters who understand the power of capital to support climate action.
Scoop
04-05-2025
- Business
- Scoop
Unlocking Climate Capital: Investor Policy Priorities For The 48th Parliament's First 100 Days
Australia's investment sector looks forward to working with Australia's new parliament on the policies that will keep building momentum towards a climate-resilient net-zero emissions economy. Quote from CEO Rebecca Mikula-Wright 'Economic damages from growing extreme climate events remain the biggest risk to super funds and other investors being able to deliver sustainable returns for their 15 million Australian members. 'Australia has all the resources we need to create new jobs and prosperity based on our abundant renewable energy resources, our clean industries, and our adaptation know-how. 'As new and continuing MPs and senators return to Canberra in the coming months, investors will be very keen to resume and accelerate the progress Australia is making towards a net zero, climate resilient economy." Priorities To support an orderly and least-cost transition, IGCC recommends the following actions for the 48th Parliament within its first 100 days: Commit to a strong 2035 emission reduction target Setting a target within the range advised by the Climate Change Authority will help investors get the confidence they need to invest in new renewable energy and other climate solutions in Australia. Release comprehensive and just sector-by-sector plans, emissions reductions plans, and the new National Climate Risk Assessment and National Adaptation Plan. With clear sector and adaptation plans and a suite of stable policies to manage climate risks and promote climate solutions, investors will have greater confidence to deploy capital in Australia and not in other markets. Amend the Climate Change Act to include Net Zero Sector Plans, the National Adaptation Plan, and the National Climate Risk Assessment. This would provide durable national frameworks for decarbonisation, adaptation and climate risk, supporting the policy continuity across governments that builds market confidence, and encourages capital deployment into Australian mitigation and adaptation from local and international investors. The Investor Group on Climate Change will be engaging with policy-makers across the new parliament to provide more detail on these recommendations and how they will support jobs, economic growth, and reduce the economic costs of climate change. About the Investor Group on Climate Change: We are a leading network for Australian and New Zealand investors to understand and respond to the risks and opportunities of climate change. Our members include our countries' largest superannuation and retail funds, specialist investors and advisory groups. Their beneficiaries include more than 14.8 million Australians, and millions more New Zealanders. Our members manage more than $35 trillion globally. We are a not-for-profit and our work is funded by members' fees and philanthropy from supporters who understand the power of capital to support climate action.
