Two weeks ahead of the 28th UN Climate Change Conference (COP28) in Dubai, a report published on 14 November by six environmental organisations, including Climate Action Tracker and the World Resources Institute, reveals the inadequate pace of the global green transition. While COP28 will be the occasion for the first global review of progress made since the 2015 Paris Agreement, the document, entitled ‘State of Climate Action 2023’ proposes an assessment of sectoral objectives, aligned with this treaty.
Of the 42 indicators analysed, only one - the share of electric vehicles in passenger car sales - appears to be on track for 2030, thanks to falling technology costs and key policies such as the US Inflation Reduction Act (IRA) and the European Green Deal.
The European Union stands out for its regulatory initiatives, particularly in the construction sector, with the update of its Energy Performance of Buildings Directive. These efforts are being bolstered by the increase in sales of heat pumps - a rise of 38% in Europe and 11% worldwide by 2022 - a new regulation against deforestation (see EUROPE 13212/30) and the proposal for a certification framework for carbon absorption (see EUROPE 13074/9), for which inter-institutional negotiations are due to start.
While the authors believe that regulation remains an effective tool, particularly in the building sector, a considerable global effort is needed to achieve the 2030 targets. Coal-fired power stations need to be phased out seven times faster, the rate of deforestation needs to be reduced four times faster and increases in the ratio of investment in low-carbon to fossil fuel energy supply need to occur more than ten times faster.
Governments, cities and businesses need to set decarbonisation targets and develop robust action plans. COP28 therefore appears to be a decisive moment for urgent and necessary climate action.
The report: https://aeur.eu/f/9ke (Original version in French by Nithya Paquiry)