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The throwaway global economy is fuelling the climate crisis with more than half a trillion tonnes of virgin materials consumed since the 2015 ParisAgreement, according to a report from impact organisation Circle Economy launched on 19 January. World leaders committed to limit climate change to 1.5°C billion last year.
Many developed countries, including the US, generate significant waste and negative environmental, financial and trade impacts that spillover into the backyards of poorer nations hampering their ability to achieve the SDGs. Regarding climate change, the US is marked “critically insufficient” for 1.5°C
In general, the new plan promotes low-carbon development and the circular economy with new approaches to transport, energy production, and waste management policies. At the Leaders Climate Summit in April 2021, President Xi Jinping announced that China would control coal generation until 2025 when it will start to gradually phase it out.
ClimateActionTracker (CAT) argues that Australia does not have a net zero target, arguing the federal government’s mid-century goal is not backed up by concrete commitments. That said, the evidence clearly shows that climate-aligned investment needs to accelerate, and that takes a supportive policy environment,” says Pitt.
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