The world is at risk of a catastrophic 3 degrees Celsius increase in global temperatures, which could have irreversible effects on the climate and cause a significant rise in sea levels.

The United Nations has warned that without a substantial increase in national commitments and swift implementation of climate action, it will be impossible to limit warming to 1.5C, and even the goal of 2C is in jeopardy. The emissions gap report highlights the growing disparity between necessary climate policies and the actions taken by nations.

The upcoming COP29 climate summit in Baku, Azerbaijan, will focus on discussions about financing climate initiatives in developing countries. This summit is seen as a crucial step before COP30 in Brazil, where governments will need to present updated plans to fulfill their obligations under the Paris Agreement. Currently, the planet is already 1.3C warmer than pre-Industrial levels, and greenhouse gas emissions increased by 1.3% last year compared to 2022. The need for stronger nationally determined contributions (NDCs) and increased funding for climate measures is more urgent than ever, particularly from the largest emitting countries.