INTRODUCTION: CLIMATE SUSTAINABILITY – EVIDENCE AND POLICY

Arnab Bhattacharjee, J. Roderick McCrorie and Adrian Pabst

National Institute Economic Review, 2023, vol. 266, 1-10

Abstract: Last year saw yet another year of weather extremes. The Copernicus Climate Change Service run by the European Centre for Medium-Range Weather Forecasts on behalf of the European Commission (Copernicus, 2024) measured 2023 as being globally the warmest year since records began in 1850. This was by a large margin (0.17 per cent) over the previous record in 2016, with global surface air temperature at nearly 1.5°C above pre-industrial levels. While last year’s observations embodied an El Niño effect, which every few years sees temperatures affected by warmer waters coming to the surface of the tropical eastern Pacific Ocean, changes and anomalies consistently observed over the last few years across the globe are becoming more pronounced. What is commonly labelled “climate change” is turning into a global climate emergency. No economy or society are immune to its effects. Today, we see the global average temperature at over 1.1°C above pre-industrial levels, a rise that has been extraordinarily rapid on a planetary timescale, and one that has been primarily caused through our (humans) burning fossil fuels. Nearly a decade has passed since the United Nations’ Climate Change Conference in 2015, COP21, where 196 nations adopted The Paris Agreement – a legally binding international treaty on climate change. Its goal was to hold “the increase in the global average temperature to well below 2°C above pre-industrial levels” and to pursue efforts “to limit the increase to 1.5°C”.

Date: 2023
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