Human activities are driving climate change. Soaring emissions have seen the amount of
increase 50 percent above pre-industrial levels. This in turn has caused the Earth’s land and ocean surface temperature to rise 1.3 degrees Celsius above the 20th century average, resulting in an increased frequency of extreme weather events. The fight against climate change is becoming more urgent, but tackling greenhouse gas emissions has so far proven to be a gargantuan task.
What are the causes of climate change?
GHG emissions resulting from anthropogenic activities act like an extra layer in the atmosphere, trapping the sun’s heat and raising temperatures. Such emissions, primarily from burning fossil fuels, have been on a nonstop upward trend for decades, reaching a new global high in 2023 of 53 billion metric tons of carbon dioxide (CO2) equivalent. Another cause of the change in the climate is the disturbance of natural carbon sinks. Terrestrial and marine ecosystems can capture more carbon from the atmosphere than they naturally emit. When degraded, ecosystems like forests or mangroves release significant amounts of carbon, losing their ability to keep it out of the atmosphere. In 2023, almost 28.3 million hectares of tree cover were lost globally, a more than twofold increase compared to 2001 levels.
How is climate change being tackled?
Global power-related CO₂ emissions stood at around 14.9 billion metric tons in 2023, the main CO₂ emitting-sector in the world. Therefore, transitioning to greener energy production technologies has become one of the main solutions against climate change. Investments in renewable energy have soared since the beginning of the century to reach almost 620 billion U.S. dollars in 2023. Market-base strategies, like carbon taxes emission trading systems, have also been implemented to help fight climate change by setting an explicit price on emissions and encouraging corporations to find cost-effective ways to lower them. As of May 2024, the number of carbon pricing mechanisms in operation reached 75.
Although important steps have been taken in the fight against climate change, more drastic measures are required to turn the tide. For instance, climate finance worldwide in 2023 reached a record high of 1.6 trillion U.S. dollars. Nonetheless, the average annual funding needed from 2024 to 2030 to remain under the 1.5 degrees Celsius scenario is 7.4 trillion U.S. dollars, almost five times more than the current spending.
Climate change is undoubtedly the most pressing issue in modern history. Anthropogenic GHG emissions have derailed the balance of global climate, and consequences are already being felt. Based on policies and actions in place as of November 2024, the global temperature is estimated to reach a median of 2.9 degrees Celsius above pre-industrial levels by 2100, severely overshooting the goals of the Paris Agreement.
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