Gerry Mey, Emma Farge

GENEVA/GLASGOW – The world’s greenhouse gas concentrations reached a new record in 2013 and it is still “way off track” with climate goals. This, according to the U.N. agency for weather, shows the enormity of the challenge facing countries trying to avert catastrophic levels of global warming.

According to the World Meteorological Organization, carbon dioxide levels rose to 413.2ppm in 2020. That’s more than double the rate of the previous decade.

Secretary General Petteri Talas stated that temperature increases at the moment due to the increase in heat-trapping gas would exceed the Paris Agreement goal of 1.5 degrees Celsius higher than the preindustrial average for this century.

He said, “We’re way off the track.” He said, “We must revisit our industrial and energy systems, and entire way of living,” and called for a “dramatic rise” in the number of commitments to the COP26 conference that begins on Sunday.

Glasgow, Scotland was finishing up preparations for hosting climate talks. These may have been the last chance the world has to limit global warming below the 1.5-2 degree Celsius upper limit established in the Paris Agreement.

There are many stakes on the planet – including the potential impact on the economic lives of people around the globe and the stability of the global financial market.

Saudi Arabia’s Crown Prince said Saturday that it aims to achieve “net zero” greenhouse gas emissions by 2060, a decade later than the United States.

He stated that it will double the emission cuts it intends to attain by 2030.

According to Reuters, Australia’s cabinet is expected to officially adopt a goal of net zero emission by 2050. It will meet Monday to discuss a deal between the coalition governments of Prime Minister Scott Morrison and Australia.

The ruling coalition is divided on how to combat climate change. However, the government insists that more aggressive targets will cause damage to the A$2-trillion economy ($1.5 trillion).

Officials from Canada and Germany presented a plan on how wealthy countries could help the poorer nations to finance climate change reform in Berlin.

The 2009 promise by wealthy countries to contribute $100 billion annually in climate finance each year to the poorer nations of 2020 has so far been broken.

According to Reuters, economists believe that in order to reach the Paris Agreement target of zero carbon emissions net-zero by 2050 it will take investments of 2%-3% each year in a green transition. This is far lower than the economic cost for inaction.

Climate activists in London relaunched their campaign to block major roads and disrupt traffic in London’s Financial District.