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illuminem summarizes for you the essential news of the day. Read the full piece on Forbes or enjoy below
🗞️ Driving the news: The United Nations recently unveiled a report ahead of COP28, detailing the world's inadequate progress towards meeting the 2050 net zero goals, as established by the Paris Agreement
• This inaugural assessment took inventory of worldwide climate endeavors, highlighting the areas needing more intensified efforts, such as climate financing and stricter greenwashing regulations
🔭 The context: The report, resulting from the Paris Agreement's mandate for a "global stocktake" every five years, offers a comprehensive evaluation of global climate action
• This global climate treaty, penned in 2015, has been signed by 195 nations and the EU, with the US notably rejoining under President Joe Biden in 2021
🌍 Why it matters for the planet: Among the report's 17 key findings, it was underscored that nations need to bolster action to curtail the impacts of climate change
• For instance, global emissions must reduce more substantially to restrict temperature hikes to 1.5 degrees Celsius by 2030
⏭️ What's next: The findings will likely steer discussions at COP28, where debates on climate financing, sustainability reporting standards, and stricter greenhouse gas norms are expected
• The summit will emphasize transitioning from fossil fuels, enhancing resilience efforts, and focusing on equity and economic diversification
📈 One stat: Global emissions, to meet the Paris Agreement's goals, should have peaked between 2020 and 2025 — however, they are currently still rising
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