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In order to reach the goals of the Paris Agreement, it is essential to rapidly move from a zero-sum offsetting approach towards rapid transitions to decarbonise all emitting sectors.

With signing of the Paris Agreement, countries pledged to reduce carbon dioxide (CO2) and other greenhouse gas emissions, as well as to adapt to the impacts of climate change. By scaling up renewable energy, countries can sharply reduce one major source of the problem: energy-related CO2 emissions.

The recent wave of net zero targets has put the Paris Agreement’s 1.5°C within striking distance. In this briefing, the Climate Action Tracker (CAT) has calculated that global warming by 2100 could be as low as 2.1°C as a result of all the net zero pledges announced as of November 2020.

The end of 2020 marks a fundamental change in the global governance of greenhouse gas emissions with the shift from the Kyoto Protocol era to that of the Paris Agreement. This has important implications for the future role and the feasible models of the voluntary carbon market.

This report updates and extends PBO’s analysis of the additional carbon pricing needed to achieve Canada’s greenhouse gas (GHG) emissions target in 2030 under the Paris Agreement. Under the Paris Agreement, Canada has committed to reduce its GHG emissions by 30 per cent below 2005 levels by 2030.

The COVID-19 pandemic continues to exact a tragic toll on lives and livelihoods and will greatly impact global energy use in the near term. Energy demand will fall 8% this year, and with a slow recovery, our whole energy demand forecast is rebased downwards by 8% relative to our previous forecast through to 2050.

While national emission trends are a useful tool for measuring government progress towards meeting the Paris Agreement 1.5˚C temperature limit at a global level, each government will have to address its own sectors, each with their own, different baseline. What should government sectoral benchmarks be? Will they meet the global carbon budget?

The Paris Agreement Compatible (PAC) scenario illustrates a pathway for the transition of the EU’s energy system that is in line with EU leaders’ commitment to the Paris Agreement.

Aiming to strengthen the global response to the threat of climate change, Parties adopted the Paris Agreement in 2015, and through it established an enhanced transparency framework (ETF). Countries are now actively engaged in establishing the necessary arrangements to implement the ETF.

Korea needs to phase-out unabated gas by 2050 in a Paris-aligned scenario or potentially risk $60 billion in stranded assets. As much as 13.7 GW of coal capacity may be retired between now and 2034 and risks being replaced with gas power.

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