As the COP28 climate summit approaches its decisive phase, the International Energy Agency (IEA) issues a sobering warning that the recent wave of pledges may fall short of curbing global warming to the crucial 1.5 degrees Celsius target. Despite 130 countries committing to substantial increases in renewables and energy efficiency and 50 oil and gas companies pledging methane reduction and flaring elimination by 2030, the IEA cautions that these efforts only address a third of the emissions gap required by 2030. The urgency to meet the 2015 Paris Agreement’s goals looms large, and the IEA emphasizes that current commitments alone may not be sufficient. For a detailed insight into the IEA’s assessment and the challenges ahead, click here.
