Developed countries’ efforts to reduce emissions directly impact the limited carbon budget available to developing countries

 Climate transparency reports offer valuable insights into the efforts of developed nations towards achieving climate-related goals, but questions linger regarding their effectiveness in building trust in these commitments. With the global carbon budget dwindling rapidly – estimated to be approximately 500 GtCO2 – at the current emission rate, it’s projected to be exhausted by the decade’s end, according to IPCC’s 2021 report.

This scenario underscores the urgency for deep emission cuts during the critical decade from 2020 to 2030. However, concerns arise regarding the pace of emission reductions by developed countries, which have historically contributed over 75 per cent of global emissions. The trajectory of emissions by these nations significantly impacts the carbon budget available for developing countries, essential for addressing socioeconomic challenges and poverty eradication.

To gain clarity on the performance of developed countries in meeting their commitments and the available portion of the remaining carbon budget, there’s a need for comprehensive analysis. In an effort to bridge this gap, an issue brief delves into the emission trajectories of developed nations, examining historical and projected emissions from 1990 to 2050.