At the current rate of emissions, it is estimated a 50% chance that global average temperatures will exceed 1.5 degrees consistently in about six years.
- This year, possibly, will be the first time the threshold of 1.5 degrees is crossed.
The carbon budget: It’s the amount of CO2 emissions that will result in limiting global warming to a given level, in this case, the Paris accord’s target of 1.5 degrees C over pre-industrial levels.
Key Findings:
- Globally, fossil-based CO2 emissions are set to touch a record high of 37.4 billion tonnes this year.
- The largest contributions to global fossil CO2 emissions were China (31%), the USA (13%), India (8%), and the European Union (7%), in 2023.
- These four regions account for 59% of global fossil CO2 emissions, while the rest of the world contributed 41%.
- Global emissions from land-use changes like deforestation have dropped 20% over ten years.
- Reforestation and new forests offset about half of permanent deforestation emissions globally.
- The land and ocean CO2 sinks combined took around half of the total CO2 emissions, despite being negatively impacted by climate change.
Global Carbon Project (GCP)
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