To prevent warming beyond 1.5°C, we need to reduce emissions by 7.6% every year

To prevent warming beyond 1.5°C, we need to reduce emissions by 7.6% every year from this year to 2030. (EGR, 2019)
10 years ago, if countries had acted on this science, governments would have needed to reduce emissions by 3.3% each year. Every year we fail to act, the level of difficulty and cost to reduce emissions goes up. (EGR, 2019)
Deep reductions in methane will be necessary to help limit global warming to 1.5°C or 2°C, according to IPCC. Over 75 per cent of methane emissions could be mitigated with technology that exists today – and up to 40 per cent at no net cost according to the International Energy Agency.
Conserving and restoring natural spaces, both on land and in the water, is essential for limiting carbon emissions providing one-third of the mitigation effort needed in the next decade. (Nature for Climate Action fact sheet, UNEP)
Since over half of global GDP has a high or moderately high dependency on nature, investing in nature-based solutions will not only limit global warming but also result in about 4 trillion dollars in revenue for businesses and over 100 million new jobs each year by 2030. (Nature for Climate Action fact sheet, UNEP)
For governments, a green COVID-19 recovery could cut 25 per cent off 2030 emissions, putting the world on track to a 2°C pathway. (EGR, 2020)
Nations agreed to a legally binding commitment in Paris to limit global temperature rise to no more than 2°C above pre-industrial levels but also offered national pledges to cut or curb their greenhouse gas emissions by 2030. This is known as the Paris Agreement. The initial pledges of 2015 are insufficient to meet the target, and governments are expected to review and increase these pledges as a key objective this year, 2021.
The updated Paris Agreement commitments will be reviewed at the climate change conference known as COP 26 in Glasgow, UK in November 2021. This conference will be the most important intergovernmental meeting on the climate crisis since the Paris agreement was passed in 2015.
The success or otherwise of this conference will have stark consequences for the world. If countries cannot agree on sufficient pledges, in another 5 years, the emissions reduction necessary will leap to a near-impossible 15.5% every year. The unlikelihood of achieving this far steeper rate of decarbonization means the world faces a global temperature increase that will rise above 1.5°C. Every fraction of additional warming above 1.5°C will bring worsening impacts, threatening lives, food sources, livelihoods and economies worldwide.
Countries are not on track to fulfill the promises they have made.
Increased commitments can take many forms but overall they must serve to shift countries and economies onto a path of decarbonization, setting targets for net-zero carbon, and timelines of how to reach that target, most typically through a rapid acceleration of energy sourced from renewables and rapid deceleration of fossil fuel dependency.