Insufficient COP28 Pledges Won't Limit Warming to 1.5C, Warns IEA

The International Energy Agency (IEA) warns that the pledges made at COP28 climate summit are insufficient to limit global warming to 1.5 degrees Celsius. While 130 countries have committed to tripling renewables and doubling energy efficiency improvements, and 50 oil and gas companies have pledged to cut methane emissions, these actions would only close about a third of the emissions gap needed to meet the Paris Agreement targets. The IEA emphasizes the need for additional measures, including a large-scale financing mechanism and a decline in fossil fuel use, to achieve the necessary emissions reductions. Saudi Arabia and India are identified as the main obstacles to an agreement on phasing out fossil fuels at COP28.