About

• The Emissions Gap Report is an annual report published by the United Nations Environment Programme (UNEP).

Objective of the report

• It assesses global progress in limiting temperature rise to the 1.5°C target set by the Paris Agreement. 
• It evaluates greenhouse gas emissions, tracks progress in reducing them, and highlights the gaps between current and required actions to meet climate goals.

• It aims to guide countries in strengthening their climate policies and updating nationally determined contributions (NDCs).

Why in news?

• The UNEP has published the Emissions Gap Report-2024.

Highlights of the 2024 report:

• No significant progress was made toward the 1.5°C goal in 2023.
• Global greenhouse emissions rose by 1.3% in 2023 relative to 2022, with the power sector being the largest contributor, followed by transport, agriculture and industry.
• The emissions gap remains large: achieving a 1.5°C limit by 2030 and 2035 requires 24 and 32 gigatonnes of CO2 equivalent (GtCO2e) reductions, respectively.
• Even with full NDC implementation, emissions would only drop by 4-10% by 2030 compared to 2019, far below the needed 28-42%.
• Renewable energy advancements, while underway, are insufficient without a parallel phasing out of polluting industries.
• Without new, ambitious pledges, temperatures could rise by up to 2.6°C by the century’s end.
• Global investment in climate action needs to increase sixfold, especially in developing nations that require international financial support.
• Expanding solar and wind energy could reduce emissions by up to 38% by 2035, with reforestation and better forest management adding 20%. 
• The report urged countries to adopt more ambitious NDCs, incorporating all gasses covered by the Kyoto Protocol, including carbon dioxide, methane, nitrous oxide and F-gasses (hydrofluorocarbons, perfluorocarbons and sulfur hexafluoride). 
• The report urges wealthier nations to increase responsibility and financing to meet climate commitments at COP29.