IPCC Releases Last Addition to Their Sixth Assessment Cycle - ESG Reporting and Consulting in Hong Kong

Blog Details

  • Home
  • IPCC Releases Last Addition to Their Sixth Assessment Cycle

IPCC Releases Last Addition to Their Sixth Assessment Cycle

susie March 25, 2023 0 Comments

What is the synthesis report?

IPCC released their Synthesis Report (SYR) this month, summarising the findings of the cycle of reports between 2018 and 2023 that make up the Sixth Assessment (AR6).

What did the IPCC find?

In the report, IPCC details what will happen if we don’t limit global warming to below 1.5°C. In a nutshell, the conclusion calls into question the viability of our livelihoods within the planetary boundaries if we don’t take immediate climate action over the next 7 years.

An assessment of the projected levels of GHG emissions in the atmosphere by 2030, based on the climate targets set out by all countries in their nationally determined contributions (NDCs) show that global warming is likely to exceed 1.5°C this century. At the state of our current progress, the findings of the report indicate that a significant portion of the planet will become uninhabitable over the next few decades.

What should be the next steps?

To combat these disastrous outcomes, emissions need to be reduced by at least 43% by 2030 compared to 2019 levels, and at least 60% by 2035. Fossil fuel consumption needs to be substantially reduced, and more investments into the net-zero transition is needed to fund climate-friendly solutions.

Although US$125 trillion in climate investments may seem like a daunting figure, the cost of inaction far exceeds this cost, and a passive stance against climate change will have impacts far beyond mere financial implications.