The latest Climate Action Monitor by the Organisation for Economic Co-operation and Development (OECD) shows that current climate commitments have not been matched with effective action.
According to the report, for the twelfth consecutive month, the global average temperature was 1.5°C warmer than the pre-industrial era. By August 2024, 15 national temperature heat records were broken across the world. Increasing temperatures, coupled with increasingly variable precipitation patterns, have had dramatic effects across the world.
Triggering climate tipping points risks disrupting the climate on a global scale, creating a planetary emergency
Tipping points, such as the disintegration of ice sheets and the weakening of ocean currents, may already be underway and the risk of crossing more climate tipping points increases considerably at 1.5°C, potentially leading to catastrophic impacts on the climate. Meltwater from ice-sheet collapse, for example, contributes to a slowdown of the ocean currents, which in turn may contribute to impacts in other ecosystems, highlighting the interconnectedness of these major environmental changes. Immediate action to limit global warming to 1.5°C is essential to prevent cascading effects of climate tipping points that could lead to a planetary emergency.
The Paris Agreement has been crucial in strengthening climate action, but a significant ambition gap remains
By August 2024, 195 Parties have communicated their Nationally Determined Contributions (NDCs). However, emission reduction targets in the current set of NDCs are insufficient to achieve the Paris Agreement temperature goals. Even if current NDCs (considering unconditional targets) are fully implemented, estimated greenhouse gas (GHG) emissions are projected to reach 55 gigatonnes of carbon dioxide equivalents (Gt CO2e) in 2030. This reveals an ambition gap of around 22 Gt CO2e to limit global warming to 1.5°C estimated to be consistent with global GHG emissions of 33 Gt CO2e.

Current net-zero targets are not ambitious enough
By August 2024, 110 Parties, covering 88% of global GHG emissions, have pledged net-zero targets. However, even if all these net-zero targets are met, total emissions are estimated to reach 21 Gt CO2e in 2050. This will exceed considerably the 8 Gt CO2e level estimated to be necessary to limit global warming to 1.5°C. In addition, the lack of legally binding net-zero targets in most countries poses a risk that these commitments may not be fully achieved. Only 27 countries and the European Union, representing 16% of global GHG emissions, have legally enshrined their net-zero targets.
Global emissions continued to grow in 2023. Global GHG emissions (including land-use, land-use change and forestry) increased by 1.3% between 2022 and 2023. This implies that current global emissions need to decrease by 2030 by 43% to achieve the 1.5°C and 27% to reach the 2°C temperature goals.
Given that countries are soon to submit the next round of NDCs for 2035 and Biennial Transparency Reports, it is critical that they address both the ambition and implementation gaps. Updated NDCs should be aligned with the 1.5°C considering economy-wide targets; and long-term legally binding GHG emission reduction targets will be critical for achieving the Paris Agreement goals.