People walk outside the venue of the COP28 in Dubai, United Arab Emirates, December 1, 2023. /CFP
New pledges to cut emissions announced at the ongoing COP28 climate summit are not nearly enough to meet emission cut targets, according to a report released by the International Energy Agency (IEA) on Sunday.
At COP28, or the 28th meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change, countries and companies have made pledges to boost renewables and energy efficiency, and cut methane emissions, said the report.
Environmental activists display placards during a demonstration at the venue of the COP28 in Dubai, United Arab Emirates, December 5, 2023. /CFP
Although these pledges meet three of the five crucial areas for action highlighted by the agency, realizing all of them would not be nearly enough to move the world onto a path to reaching international climate targets, it said.
The full delivery of these pledges by 2030 might result in a cut of global energy-related greenhouse gas emissions by four gigatons of CO2 equivalent, according to the IEA.
This represents only around 30 percent of the emissions gap that needs to be bridged to get the world on a pathway compatible with limiting global warming to 1.5 degrees Celsius, it noted.