Winning America’s Climate Future Means Mandating Net-Zero Today

Winning America’s Climate Future Means Mandating Net-Zero Today

Share to Linkedin Special Envoy for Climate John Kerry listens in as President Joe Biden delivers remarks at the ... [+] virtual Leaders Summit on Climate on April 23, 2021. The U. S. pledged to cut greenhouse gas emissions by half by 2030. (Photo by Anna Moneymaker-Pool/Getty Images) Climate commitments are everywhere. Corporations and countries are constantly announcing net-zero emissions plans and other green initiatives. However, greenhouse gas concentrations continue to rise, and the planet continues getting hotter. The science is clear, we must limit global warming to 1. 5 C above pre-industrial temperatures to avoid the worst impacts of climate change. To do that, we must reduce global carbon dioxide emissions to net-zero by 2050. We are rapidly burning through our carbon budget. The UN's Emissions Gap report indicates that the pathway to net-zero demands annual emissions reductions of nearly 8% until 2030. By contrast, the COVID-19 economic crisis only reduced emissions around 6%. Net-zero demands dramatic action from governments, companies, and societies. Unfortunately, many climate actions have been primarily cosmetic. Since the 2015 Paris Agreement, the largest global banks have provided nearly $4 trillion in financing to coal, oil, and gas firms. The U. S. Energy Information Agency