Illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below:

🗞️ Driving the news: The recent extreme climate events underscore the urgency of capping global warming at 1.5 degrees Celsius
• The UN Environment Programme's report reveals that current pledges under the Paris Agreement may lead to a 3-degree Celsius rise by century's end, necessitating immediate action at COP28

🔭 The context: Despite advancements in renewable energy and clean technologies, global greenhouse gas emissions continue to rise, primarily due to ongoing fossil fuel use
• COP28 in Dubai aims to confront this challenge by discussing the acceleration of renewable energies and a phase-out of fossil fuels

🌍 Why it matters for the planet: The failure to significantly reduce emissions could lead to more frequent and severe climate catastrophes
• COP28 is pivotal in advancing global commitments to reduce reliance on fossil fuels, a crucial step towards mitigating climate change impacts

⏭️ What's next: The summit's agenda includes a potential agreement on phasing out fossil fuels, with the EU and 80 other countries advocating for this crucial step in addressing climate change
• COP28 seeks to triple renewable energy and double efficiency by 2030

💬 One quote: "It requires tearing out the poisoned root of the climate crisis: fossil fuels" (António Guterres, UN Secretary-General)

📈 One stat: Despite the critical need to reduce emissions, governments' plans may lead to a doubling of fossil fuel production by 2030 compared to levels aligned with the Paris Agreement goals

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