According to an independent study by the Council on Energy, Environment and Water (CEEW), China, the US and the European Union (EU) are likely to occupy more than 90 percent of the available 1.5 degrees Celsius carbon space by 2050.
“This would leave little room for developing countries like India to grow their economies in the coming decades. In addition, the three major emitters would consume 45 percent of the available carbon space by 2030. India, on the other hand, would emit 59 cents less per year than China, 58 percent less than the US and 49 percent less than the EU, from 1850 to 2100, on a cumulative basis, despite being net zero two decades later than the US and the EU and ten years later than China,” the CEEW said. analysis that took into account the existing net zero commitments of these countries.
This takes on significance as net zero targets and targets are much discussed at the ongoing COP26 in Glasgow. India has announced it will reach net-zero by 2070, even as the COP president aims for 2050 as a global net-zero target. Developing countries continue to demand climate justice, increased climate finance and additional financial support for loss and damage during the ongoing climate negotiations, while rich countries lack ambition or funding.