The troubling expansion of oil, gas and coal projects, despite science telling us that fossil fuels must stay in the ground to avert the worst impacts of climate change, was the critical issue at the centre of ‘Energy Day’ discussions at COP27 on Tuesday, with many experts fearing that the goal of curbing global warming to 1.5 degrees could be in danger.
The energy sector, responsible for more than two-thirds of global greenhouse emissions, is mainly powered by fossil fuels. While this brings electricity and transport to most of the world, it is accompanied by deep pain and loss to vulnerable communities and ecosystems.
According to the International Renewable Agency (IRENA), only 29 per cent of global electricity generation currently comes from renewables, and carbon emissions continue an upward trend.
“We’ve barely scratched the surface. And the one year since Glasgow, frankly, has been a year of climate procrastination. By 2030, we need to reduce emissions by between 30 to 45 per cent, but since COP26 we’ve shaved off one per cent. So, we have a long way to go,” the UN Environmental Programme (UNEP) chief, Inger Andersen, told an event in Sharm el-Sheikh, the site of this year’s UN-facilitated climate talks.
Ms. Andersen noted that we currently live in a world that has warmed 1.1 degrees Celsius since the preindustrial era, and we are already seeing an increase in storms, droughts, floods, and crop failures.
“The current policies take us to a 2.8 degrees world…It is important that we have a conversation about emissions reduction and who carries the load. The G20, which are meeting this very week… have a collective responsibility for 75 per cent of all emissions,” she underscored, asking for these economies to invest in climate finance and “climate justice”.