Down to nine years

But new gas projects — launched in response to Russia’s invasion of Ukraine and the resulting global energy crunch — would consume 10 percent of that remaining carbon budget, making it all but impossible for nations to meet the Paris agreement goal of limiting warming to 1.5 degrees Celsius above preindustrial levels, according to another report released Wednesday.

DB2

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"The new report projects total global CO2 emissions of 40.6 billion tonnes (GtCO2) in 2022. This is fuelled by fossil CO2 emissions which are projected to rise 1.0% compared to 2021, reaching 36.6 GtCO2 – slightly above the 2019 pre-COVID-19 levels[1]. Emissions from land-use change (such as deforestation) are projected to be 3.9 GtCO2 in 2022…

“To reach zero CO2 emissions by 2050 would now require a decrease of about 1.4 GtCO2 each year, comparable to the observed fall in 2020 emissions resulting from COVID-19 lockdowns, highlighting the scale of the action required.”

DB2

Recession should help. But keeping those reductions requires aggressive investment in green alternatives.