The Emissions Gap Report 2024: No More Hot Air … Please! highlights the urgent need for enhanced climate action to bridge the gap between current emissions trajectories and the goals set in the Paris Agreement. With the next round of Nationally Determined Contributions (NDCs) due in the coming months, this report emphasizes that ambition must translate into immediate action.

Key findings include:

• Global greenhouse gas (GHG) emissions reached a record high of 57.1 GtCO2e in 2023, increasing by 1.3% from 2022.
• Current policies are insufficient to meet the 1.5°C or even 2°C targets. To stay on track for 1.5°C, emissions must fall by 42% by 2030 compared to 2019 levels.
• The G20 nations, responsible for 77% of global emissions, must take the lead in cutting emissions faster than the global average.
• Advancements in solar and wind energy could deliver over a quarter of required emissions reductions by 2030.
• A sixfold increase in mitigation investments is necessary, alongside global financial system reforms and stronger private-sector engagement.

The report stresses that every fraction of a degree matters in saving lives, protecting economies, and preserving ecosystems.