UN Seeks $4 to 6 Trillion Per Year to Address Climate – Mish Talk

Scaremongering Continues

The Guardian reports UN finds ‘no credible pathway to 1.5C in place’

The UN environment report analysed the gap between the CO₂ cuts pledged by countries and the cuts needed to limit any rise in global temperature to 1.5C, the internationally agreed target. Progress has been “woefully inadequate” it concluded.

Current pledges for action by 2030, if delivered in full, would mean a rise in global heating of about 2.5C and catastrophic extreme weather around the world. A rise of 1C to date has caused climate disasters in countries from Pakistan to Puerto Rico.

If the long-term pledges by countries to hit net zero emissions by 2050 were delivered, global temperature would rise by 1.8C. But the glacial pace of action means meeting even this temperature limit was not credible, the UN report said.

A study published this week found “large consensus” across all published research that new oil and gas fields are “incompatible” with the 1.5C target.