OECD Says G20 Countries Must Do More To Meet Climate Goals
Faizan Hashmi Published October 27, 2021 | 04:19 PM
The Organization for Economic Cooperation and Development (OECD) said on Wednesday that G20 member states must do more if they want to reach their long-term climate goals
MOSCOW (UrduPoint News / Sputnik - 27th October, 2021) The Organization for Economic Cooperation and Development (OECD) said on Wednesday that G20 member states must do more if they want to reach their long-term climate goals.
"Almost half of all energy-related CO2 emissions in G20 economies are now covered by a carbon price, as several countries introduced or extended carbon taxes or emissions trading systems in the last few years. More needs to be done using the full range of policy tools, if countries are to match their long-term climate ambitions with outcomes," OECD said in a statement.
The organization found that in 2021, G20 economies put a price on 49% of their CO2 emissions. In 2018, this percentage reached 37%. The increase was pushed forth with new emissions trading systems, which were introduced in Canada, China and Germany.
"However, progress remains uneven across countries and sectors and is not well enough coordinated globally.
We need a globally more coherent approach which enables countries to lift their ambition and effort to the level required to meet global net zero by 2050, with every country carrying an appropriate and fair share of the burden while avoiding carbon leakage and trade distortions," Secretary-General of OECD Mathias Cormann said.
Countries of the G20 are responsible for around 80% of global greenhouse gas emissions. Cormann stressed carbon prices and other measures become more demanding and better coordinated, which will help put countries on the right path in meeting the climate goals of the Paris Agreement.
The G20 summit will take place on October 30 and 31 in Rome, Italy and will focus on a number of topics including climate change, Afghanistan and recovery from the pandemic.
Related Topics
Recent Stories
Mired in crisis, Boeing reports another loss
Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad
Austrian ski great Hirscher to make comeback under Dutch flag
Pakistan, Japan agrees to convene 'Economic Policy Dialogue'
FM Dar conveys deepest sympathy on torrential rains devastation in UAE
Spain PM Sanchez says weighing resignation after wife's graft probe
Tennis: ATP/WTA Madrid Open results - 1st update
Long-lost Klimt portrait auctioned off for 30 mn euros
Osaka seals first win on clay since 2022 in Madrid
Earthquake jolts Karachi
Sindh minister orders operation after attack on police in Ghotki
TikTok to fight US ban law in courts
More Stories From World
-
Football: English Championship table
4 hours ago -
Time for 'democratic transition' in Venezuela: opposition candidate to AFP
4 hours ago -
Spain's Pedro Sanchez : a risk-taker with a flair for survival
5 hours ago -
Football: French Ligue 1 table
5 hours ago -
Nadal will only play French Open if he can 'compete well'
5 hours ago -
Ukraine, Israel, TikTok: the massive aid package before US Congress
5 hours ago
-
TikTok to fight US ban law in courts
5 hours ago -
Football: French Ligue 1 results
6 hours ago -
Spain PM Sanchez says weighing resignation after wife's graft probe
7 hours ago -
Long-lost Klimt portrait auctioned off for 30 mn euros
7 hours ago -
TikTok to fight US ban law in courts
7 hours ago -
Anger among Ukrainians in Poland as Kyiv halts passport renewals
7 hours ago