Can save $5.11 trillion in healthcare costs if climate change goals met

Can save $5.11 trillion in healthcare costs if climate change goals met

The almost 200 nations that signed up to the 2015 Paris climate deal must this month finalise a rulebook to limit global temperature rises to well below 2°C, and to the safer cap of 1.5°C if possible.

Globally, coal-fired power accounts for 40% of Carbon dioxide emissions, and more than two-fifths of the world's electricity.

GLOBAL EMISSIONS of carbon dioxide are all set to register an all-time high in 2018, driven by a strong growth in emissions from India, according to the latest annual report of the Global Carbon Project.

China, India and the European Union are setting the pace.

In the 15 countries that emit the most greenhouse gas emissions, the health impacts of air pollution are estimated to cost more than four per cent of their GDP.

"[Current] energy and climate policies are not sufficient to overcome the growth in economic activity or energy-use growth", said Glen Peters, research director at the Center for International Climate Research in Norway and a co-author of the new report.

Between 2014 and 2016, emissions remained largely flat, leading to hopes that the world was beginning to turn a corner. The report also said despite an increase in renewable energy sources, green energy is unable to come close to the global economy's energy demands which means that people continue to guzzle fossil fuels.

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In October, a top UN-backed scientific panel found that nations have barely a decade to take "unprecedented" actions and cut their emissions in half by 2030 to prevent the worst consequences of climate change. Due to India's growing economy, India's emissions grew by 6.3% and is expected to touch 2.62 billion tonnes, the report says.

United States emissions are expected to resume their downward trend in 2019 as cheap gas, wind and solar power continue to displace coal. After years of declines, emissions are projected to have increased approximately 2.5 percent this year.

The finding on rich nations" emission is part of a report of the UN climate body on "progress and gaps' in pre-2020 targets of these countries.

The article has also been co-signed by more than 100 figures from politics, business and civil society, and comes as negotiators at the COP24 Summit in Katowice thrash out plans to try and strengthen Paris Agreement pledges before 2020. "We are in deep trouble with climate change", United Nations Secretary General António Guterres said at the conference this week.

"While there has been positive progress on clean energy and electric vehicles, this is now too small to impact the onward march of fossil fuels".

Mohamed Adow, global climate lead for Christian Aid, said poor people in developing countries most exposed to climate hazards simply can not wait. For example, while the United Kingdom performed well on carbon pricing, electric vehicles and renewables, it lags behind on carbon capture and storage capability (CCS), according to the analysis, which was commissioned by energy firm Drax.

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