Climate change is rapidly picking pace internationally. The Climate Transparency Report issued a 'code red' for the world to take urgent steps to avoid the impacts of the climate crisis. The report mentioned that the carbon dioxide emissions are set to increase by 4 per cent among the G20 countries. The emissions had dropped by 6 per cent in 2020 owing to the pandemic. The G20 countries are collectively responsible for 75 per cent of global greenhouse gases, including land-use changes and forestry. The 'richer' countries of the world have a more significant role in limiting the global rise of temperature to 1.5 degrees Celsius.
China Responsible For 60% Increase
The powerful rebound in carbon emissions is said to be powered by fossil fuels. According to the environmental campaign groups and 16 research organizations that compiled the report, the G20 countries are projected to increase their use of coal by 5 per cent this year. The leading cause of the increase of fossils is China, which accounts for 60 per cent of the increase. Nonetheless, India and the USA also play a significant role in the rise. After the global economy trod the path of recovery, there was a massive rise in coal demand in China. Therefore, coal prices have surged nearly 200 per cent since last year, the BBC mentioned.
Use of Gas Rose By 12%
The Climate Transparency Report mentions that the use of gas also rose by 12 per cent in the G20 countries. There is a stark contrast in the commitment and the reality of the green recovery promised by global leaClimaders. Only $300 billion would go for greener projects out of the total $1.3 trillion earmarked for the same. On the positive side, the report also mentioned the increase in solar and wind energy use, with record amounts of new capacity installed across the G20 in 2020. In 2020, 10 per cent of the energy was supplied from renewable resources, whereas the graph has now increased to 12 per cent.
Several G20 countries have identified the target of net zero emissions by 2050. Moreover, all the members have agreed to put forth their new 2030 carbon plans before the COP26 Climate Conference that is set to open in Glasgow in less than two weeks.