UNEP emissions gap report shows India must fight for affordable climate finance at COP28
International
The United Nations Environment Program (UNEP)'s Emissions Gap Report (EGR), released today, says the world is on track to exceed agreed climate targets for warming this century, despite "immediate and rapid emissions reductions". "Low and lower-middle income countries are most in need of affordable finance," the report said. India, listed among the lower-middle income countries, needs to implement its ambitious clean energy transition plans. “We face the challenge of mobilizing investments to achieve the expected 2.0% reduction in global warming.” To be able to limit global greenhouse gas emissions well below 1.5 °C, global greenhouse gas emissions under current policies must be reduced by "28–42%." Emission reductions in high-income countries Failure to strictly reduce emissions – which bear the greatest responsibility for past emissions – and failure to limit emissions growth in low- and middle-income countries, unprecedented action now taken by all countries, which accounts for the majority of current emissions.
____________________________
