Climate Change Markets: The time for climate action is now – IPCC

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The time for climate action is now - IPCC

The Intergovernmental Panel on Climate Change (IPCC) published its third assessment report, on 4th April 2022, which focuses on the Mitigation of Climate Change. The summary of the report was approved by all 195-member governments of the IPCC thus marking the third instalment of four instalments of the IPCC Sixth Assessment Report (AR6) cycle.  The report hammers on the statement that “The evidence is clear: The time for action is now.”

United Nations Environmental Programme (UNEP) together with the World Meteorological Organization (WMO) formed the Intergovernmental Panel on Climate Change (IPCC). Since its inception in 1988, the institution has been designed to share a well-defined and scientific view of the current state of knowledge in climate change and its impending environmental and socio-economic effects on the world as a whole.

The IPCC is halfway through its sixth assessment cycle (AR6). In August 2021, Working Group I focused on the Physical Science Basis, developed a code red for humanity and set the tone for UN Climate Change Conference of the Parties (COP26) in Glasgow last November. A few weeks ago, in February 2022, Working Group II released a report on Impacts, Adaptation & Vulnerability, which concludes that more ambitious and immediate actions are a better option.

The Working group III report  on mitigation of Climate Change looks specifically at the climate change mitigation advancement and promises made by various parties especially advanced countries. Additionally, it looks at the sources of global emissions and what could be done to control and prevent altogether human-generated emissions that are a major cause of global warming in the first place.

Key findings of the report are numerous. It first depicts that the global net emissions from human activities continually rose across all major groups of greenhouse gases. Between 2010-2019, the average yearly greenhouse gas emissions were at an ultimate high compared to previous decades, but the rate of growth was comparatively slower during this decade than the decades before.

Click the link to read the full report

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