The central objective set by the Paris Agreement to limit global warming to well below 2°C, preferably 1.5°, compared to pre-industrial levels, also required countries to create plans for action, known as nationally determined contributions (NDCs). The United Nations Environment Program’s (UNEP) Emissions Gap Report notes that current NDCs are highly insufficient and make it likely that warming will exceed 1.5° while making it harder to limit warming to below 2° after 2030. The results of the next global stocktake will help governments understand the emissions gap in achieving the Paris Agreement goals and facilitate more ambitious NDCs in the next round of climate change deliberations.
Read MoreRising tensions between the North Atlantic Treaty Organization (NATO) and Russia over Russian troop buildups on the Ukraine border have raised the specter of an energy crisis in Europe. This new geopolitical context is likely to influence Europe’s calculus going forward, with a high likelihood that a lasting distaste for heavy reliance on Russian gas will give even further impetus to plans to rapidly diversify to cleaner energy sources such as offshore wind and hydrogen. That begs the question: Have Russia’s recent actions hurt its own chances to be a major participant in Europe’s energy transition?
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