IEA: Global CO2 emissions rise to all-time high
BERKELEY, California, 11 March 2022: As You Sow, an advocacy non-profit that promotes environmental and social corporate responsibility, quoted the International Energy Agency (IEA) as saying that global carbon dioxide emissions (CO2) from energy combustion and industrial processes rose to their highest ever level in 2021. Making the announcement through a Press release, As You Sow added that a six per cent increase in 2021 pushed emissions to 36.3 gigatonnes, erasing the five per cent reduction in 2020, owing to the COVID-19 pandemic.
As greenhouse gas emissions continue to climb higher when the effects of climate change are increasingly being felt it highlights the need to go beyond targets and implement immediate tangible emissions reductions, As You Sow said.
More than 70 countries, accounting for more than 80% of global CO2 emissions and 90% of global GDP, have committed to net-zero, as have more than 5,000 companies, As You Sow said. In order to see progress critical for keeping global temperatures from rising beyond 1.5 degrees C, there is a need for companies to pursue ambitious near-term targets, robust transition plans detailing steps to achieve targets and leadership in advocating for sweeping climate policy, As You Sow added.
As You Sow’s recent report, Road to Zero Emissions scores companies on net-zero progress and is in step with the Intergovernmental Panel on Climate Change’s findings that near-term action is needed by prioritizing year-over-year emissions reductions aligned with 1.5 degrees C.
Danielle Fugere, President, As You Sow, said: “Investor value is being put at greater risk as emissions continue to rise. It is imperative for the safety of human society and the global economy that emissions are reduced immediately in line with the Paris Agreement. When it comes to climate change, we will not be given second chances, so the private sector must create climate transition plans that prioritize accountability and transparency.”