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illuminem summarizes for you the essential news of the day. Read the full piece on The Conversation or enjoy below:
🗞️ Driving the news: Canada is actively engaging the public in setting its 2035 greenhouse gas emissions reduction target, as mandated by the Canadian Net-Zero Emissions Accountability Act (Net-Zero Act)
• The target is crucial for meeting international commitments under the Paris Agreement and must be established by December 2024
🔭 The context: The Net-Zero Act demands that the 2035 target aligns with the best scientific data, Canada's international obligations, Indigenous knowledge, and the recommendations of the Net-Zero Advisory Body
• Scientific consensus highlights significant differences between a 1.5 C and 2 C global warming scenario, underscoring the urgency of robust action to mitigate climate impacts
🌍 Why it matters for the planet: Global temperatures have already increased by 1.52 C, bringing about severe weather events and economic losses
• For Canada, not taking adequate action could result in annual damages between $78 and $101 billion by mid-century
• The emphasis on a just and equitable transition in setting the 2035 target underscores the broader global imperative to combat climate change effectively and inclusively
⏭️ What's next: Canada's approach to setting its 2035 emissions reduction target is under scrutiny, with calls for transparency in emissions trading, a fair and equitable strategy that aligns with historical responsibilities and capacities, and the incorporation of Indigenous-led climate policies
• The outcome will be pivotal for Canada's climate trajectory and its role in global efforts to limit warming
💬 One quote: "For island states and least-developed countries 'one-point-five to stay alive' is reality, it’s not a slogan," says Adelle Thomas, senior climate scientist at the University of the Bahamas, emphasizing the existential stakes of global climate action.
📈 One stat: A recent report forecasts that by 2025, Canada will face "$25 billion in losses relative to a stable-climate scenario," equating to 50% of its projected GDP growth for that year.
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