Good afternoon. I am pleased to join you today to share more on UNEPs latest report, Limiting Overshoot.
This report tells us that global temperature rise is set to cross 1.5C above pre-industrial levels crossing the goal the world agreed to during the Paris Agreement talks - likely within the next few years. This is the legacy of our inaction.
Across the globe, extreme heatwaves are already proving that climate impacts will strike faster, hit harder and last longer costing more lives and causing deeper disruption.
Above 1.5C we can expect an intensification of extreme weather, glacier melt, ecosystem loss and sea-level rise.
Human health, food and water security, cities and infrastructure will come under increasing strain.
Put simply: There are no good outcomes if we remain above 1.5C.
Even if we do exceed 1.5C, 1.5C remains the goal. That does not change. But now we must approach it differently, and from above.
This report offers options how to, by getting on a so-called overshoot, peak and decline pathway. That means keeping peak warming as low as possible, keeping the peak as short as possible, and then working to bring temperatures back down as quickly as possible.
Lets be clear. The quickest, most effective way we can do this is accelerating a transition away from fossil fuels. Delivering deep cuts to CO2, methane, and other greenhouse gases. Addressing key sectors including cooling, energy efficiency, demand and supply side reform. This will determine how long the overshoot lasts and whether we are able to bring temperatures back down.
This report was produced because of a legacy of inaction. What happens next depends on what actions we take now.
We need stronger political will and multilateralism. More agile and inclusive governance. Equity and justice must be even more at the core of all action. And we will, of course, need much greater finance.
Countries with greater historical responsibility for climate change should do the most work. This generation must act urgently to avoid passing a bigger burden on to future generations. And we will require a fundamental rethink to long-term governance to ensure that those who have contributed least to global warming are not left to bear its greatest burdens.
The future will bring many unknowns.
But we do know that decisions taken now will determine if we have a chance of returning to 1.5C or below.
Every fraction of a degree avoided, every year by which overshoot is shortened and every adaptation action taken will save lives, protect ecosystems and reduce economic losses.
Now is the time to double down on climate action, not give up on it.
Thank you.
