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It's 'Decarbonization Day' at COP27 in Egypt and what better way to mark the occasion than flicking through the Global Carbon Budget report. The report by more than 100 scientists highlighted the gap between the promises governments, companies and investors have made to cut planet-warming emissions in future years, and their actions today – which cause emissions to keep rising.
Countries are expected to emit a total 41 billion tonnes of CO2 in 2022, said the report, with 37 billion tonnes from burning fossil fuels and 4 billion tonnes from land actions such as deforestation. This year's increase was driven by higher oil use in transport – particularly aviation – as economies continued to reopen from lockdowns during the COVID-19 pandemic.
Emissions from burning coal increased, as countries have turned to the most-polluting fossil fuel after restrictions of Russian natural gas supplies to Europe following Moscow's February invasion of Ukraine, which sent global gas prices soaring.
One way that can help curb rising emissions is through the U.N. Environment Program's (UNEP) new initiative that uses space satellites to detect global methane leaks and will encourage companies and governments to curb emissions of the powerful greenhouse gas through its public database.
The system, dubbed MARS or Methane Alert and Response System, will build on a pledge signed by 119 countries since last year to cut methane emissions by 30% this decade. The MARS system will rely on an existing network of space satellites to spot methane plumes around the globe, estimate how big they are, and identify the company or government responsible, UNEP said.
Another way is through carbon absorbing methods which can tackle rising emissions. The European Union has agreed to a law to expand its forests, marshes and other "sinks" that absorb carbon dioxide (CO2), a measure that could allow the bloc to raise its target for cutting net emissions of greenhouse gasses. The law sets a target of removing 310 million tonnes of CO2 equivalent by 2030 through using soil, trees, plants, biomass and timber.
And the EU is not alone in looking at ways to tackle high carbon emissions as President Joe Biden's administration will toughen a proposed crackdown on methane emissions from the U.S. oil and gas industry by requiring drillers to fix all leaks, not just the biggest, and through new rules on flaring, it said on Friday.
