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Financial Times, 22-Sep-2019:
UN climate summit: leaders gather ahead of New York meetingMultinationals pledge drastic cuts to emissions after biggest climate demonstrations everWorld leaders are gathering in New York ahead of Monday’s UN climate summit, when about 60 countries are expected to make new climate commitments. The biggest climate demonstrations ever took place on Friday in more than 150 countries, as multinationals also pledged to drastically cut emissions. This blog brings you the latest news from our reporters on an important week for environmental issues.
Reports warns on ‘tragic effect’ of record temperatureScientists have issued a stark warning about the impact of rising concentrations of greenhouse gases in the atmosphere, ahead of the UN climate summit in New York.
The 2015-2019 period has been the warmest five-year-period on record, and the rate of global sea level rise is also accelerating, according to a new report from the UN’s World Meteorological Association. While annual sea level rise was about 3mm per year during 1997-2006, this has sped up 5mm per year in the May 2014-summer 2019 period.
“Climate change causes and impacts are increasing rather than slowing down,” said Petteri Taalas, head of the WMO and co-chair of the science advisory group of the UN climate summit. “As we have seen this year with tragic effect in the Bahamas and Mozambique, sea level rise and intense tropical storms led to humanitarian and economic catastrophes,” he added.
Global emissions are rising and will not peak until after 2030, based on current country policies, putting the planet on course for 2.9C-3.4C of warming by the year 2100, the report warned.
As about 60 heads of state prepare to take to the stage at the UN climate summit on Monday with new climate announcements, the report — a synthesis of research from eight groups including the UN Environment Program and the Intergovernmental Panel on Climate Change — highlighted the most dramatic changes that have already taken place on the planet.
New data on greenhouse gases showed the growth rate for carbon dioxide concentrations in the atmosphere was 20 per cent faster during 2015-2019 than during the previous five-year period, the result of rising emissions.
In the Arctic, multiyear sea ice that stays frozen from year to year is close to disappearing, the report warned, noting that the four lowest years on record for winter sea ice extent occurred during 2015-2019. The accelerating melt of the Greenland ice sheet and global glaciers, in addition to the thermal expansion of the ocean as it gets warmer, have all contributed to a speed-up in the rate of sea level rise.
Large group of multinationals sign UN climate pactAs world leaders began gathering in New York for Monday’s UN Climate Action Summit, a group of multinational companies including Swiss Re, Danone, Ikea, Salesforce and L’Oréal pledged to drastically cut greenhouse gas emissions.
With the announcement of 59 new signatories, the UN Global Compact now has 87 companies, with a combined market cap of $2.3tn, on board with its campaign to keep global warming below 1.5 degrees centigrade. The initiative launched earlier this year with 28 companies signing up in July, including Levi Strauss, AstraZeneca and Unilever.
Companies signing on with the UNGC pledge have agreed to set independently verified “science-based” targets and create decarbonisation plans within 24 months to start bringing their emissions down to keep warming below 1.5C. Signatories also have the option to publicly commit to reaching net-zero emissions by no later than 2050.
More than 600 companies had already pledged to do their part in limiting global warming to 2C as set out in the 2016 Paris climate accord, but their progress on hitting those goals has been patchy. Only 15 per cent of the world’s largest 500 companies are on track.
Nonetheless, the rapidly rising number of companies taking action on climate change is evidence of a “massive intellectual revolution” in the world of business, said Andrew Steer, a board member at the Science Based Targets Initiative — a coalition between the UNGC and various environmental research and activist groups in charge of vetting the companies signing the pledge.
“Just five or 10 years ago, the vast majority of CEOs, boards and governments believed it would be nice to do something about climate change but it would require a trade off,” Mr Steer said. “Now, their view is that smart policies on climate change encourage more resource efficiency and [the development of] new technology . . . which can lead to more, rather than less, competitiveness.”
- Billy Nauman in New YorkSource: [
www.ft.com] .
Edited 1 time(s). Last edit at 2019-09-22 19:40 by Irix.