The World Economic Forum’s Global Risk Report 2019 published today shows that the world’s business leaders perceive the failure to tackle climate change as the number two risk that the world faces over the next decade, both in terms of likelihood and impact.
Read more: Climate change among top risks to the global economy, business leaders say
In reaction to today’s Environment Council where EU ministers have for the first time discussed the EU’s draft climate long-term strategy put forward by the European Commission on 28 November, Wendel Trio, Director of Climate Action Network (CAN) Europe said:
Read more: EU environment ministers kick-off discussions on EU climate neutrality by 2050
As the COP24 climate summit comes to an end, it is clear that governments have failed to adequately respond to the catastrophic impacts of climate change that were highlighted in the landmark IPCC report on 1.5°C. Based on a now widely operational Paris Agreement the next two years need to be used to build far-reaching transformational partnerships and reach the level of ambition science makes clear is necessary.
Read more: COP24 outcome misses urgency of climate breakdown
Today the European Parliament, Commission and Council have taken a step in the right direction by agreeing to end coal subsidies by 2025, paving the way for a European-wide coal phase out. However the biggest polluters still got to buy some time despite the urgency of climate change. With only twelve years left to act to keep temperature rise below 1.5°C and thus avoid catastrophic impacts of climate change as highlighted in the latest IPCC report, every cent spent on coal will be costly for the climate as well as for European taxpayers.
As the COP24 climate summit draws to a close, negotiators are still struggling to agree on a significant commitment to strengthen all countries’ climate pledges by 2020.
Read more: COP24: strong agreement on increasing climate targets still missing