illuminem summarizes for you the essential news of the day. Read the full piece on The Guardian or enjoy below:

🗞️ Driving the news: The carbon emissions budget, which is the maximum amount of carbon emissions permissible to restrict global temperature rise within the limits of the Paris Agreement, is now critically small
• A new analysis reveals that the budget is half the size of the estimate made in 2020, and at the current rate of emissions, it would be exhausted in just six years.

🔭 The context: This year has seen record-breaking temperatures and extreme weather events, intensifying the urgency for climate action
• The upcoming UN COP28 climate summit is expected to be a battleground over fossil fuel phaseout demands

🌍 Why it matters for the planet: The shrinking carbon budget sends a dire message about the adequacy of current climate actions
• Every tenth of a degree of additional heat translates to more human suffering, making it imperative to stay as close to the 1.5C target as possible
• The study emphasizes the need for immediate and substantial reduction in emissions to mitigate the worst impacts of climate change

⏭️ What's next: Governments are urged to take immediate action to control emissions and adhere to more ambitious targets
• The study calls for a global effort to fight for every tenth of a degree in temperature rise, highlighting the importance of limiting warming as much as possible

💬 One quote: “The budget is so small, and the urgency of meaningful action for limiting warming is so high, [that] the message from [the carbon budget] is dire." (Professor Joeri Rogelj, Imperial College London)

📈 One stat: The remaining carbon budget for a 50% chance of staying below 1.5C is about 250 billion tonnes, with global emissions expected to reach a record high of 40 billion tonnes this year

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