We're 20 years away from catastrophe, says PricewaterhouseCoopers.
The report highlights an "unmistakable trend": The world's major economies are increasingly failing to do what's needed to to limit global warming to 3.6 degrees Fahrenheit above preindustrial levels. That was the target agreed to by countries attending the United Nations' 2009 climate summit; it represents an effort to avoid some of the most disastrous consequences of runaway warming, including food security threats, coastal inundation, extreme weather events, ecosystem shifts, and widespread species extinction.
To curtail climate change, individual countries have made a variety of pledges to reduce their share of emissions, but taken together, those promises simply aren't enough. According to the PricewaterhouseCoopers report, "the gap between what we are doing and what we need to do has again grown, for the sixth year running." The report adds that at current rates, we're headed towards 7.2 degrees Fahrenheit of warming by the end of the century—twice the agreed upon rate. Here's a breakdown of the paper's major findings.
The report also found that the world is going to blow a hole in its carbon budget—the amount we can burn to keep the world from overheating beyond 3.6 degrees: