Market news, 21 February 2025
UNEP Calls for Greater Global Action in 2024 Annual Report
Date:
22 February 2025
The United Nations Environment Programme (UNEP) has released its 2024 Annual Report, urging nations to significantly increase their environmental commitments and actions. The report highlights UNEP’s efforts to provide scientific insights, support environmental negotiations, and align funding with global sustainability goals.
Throughout 2024, key environmental negotiations took place, including the sixth UN Environment Assembly (UNEA-6) in Kenya, the UN Biodiversity Conference (COP16) in Colombia, and the UN Climate Conference (COP29) in Azerbaijan. Discussions also advanced on a legally binding treaty on plastic pollution and desertification. While some progress was made, unresolved issues underscored the need for stronger international cooperation.
UNEP’s flagship reports in 2024 underscored major environmental concerns. The Emissions Gap Report warned that countries must take immediate action to close emissions gaps or risk missing the Paris Agreement’s 1.5°C target. The Adaptation Gap Report found that international public adaptation finance to developing nations increased by $6 billion from 2021 to 2022 but remains insufficient to meet global needs.
Meanwhile, UNEP’s Methane Alert and Response System has issued over 1,000 notifications to governments and companies, leading to the mitigation of major leaks in Algeria and Nigeria, preventing emissions equivalent to those from 1 million cars in a year.
UNEP also helped mobilize substantial funding for sustainable projects, supporting electric mobility, renewable energy, and low-emission buildings. These initiatives are expected to benefit over 17 million people and cut nearly 300 million tonnes of greenhouse gas emissions—comparable to removing 65 million cars from the roads.
Reflecting on the year, UNEP Executive Director Inger Andersen emphasized the challenges and importance of international collaboration: “The reality is that environmental multilateralism is sometimes messy and sometimes arduous. But even in complex geopolitical times, collaboration across borders and across our differences is the only option to protect the foundation of humanity’s existence – Planet Earth.”
Andersen called for urgent action in 2025, particularly in reducing greenhouse gas emissions, increasing climate adaptation financing, and finalizing a global agreement on plastic pollution before UNEA-7 in December.
Throughout 2024, key environmental negotiations took place, including the sixth UN Environment Assembly (UNEA-6) in Kenya, the UN Biodiversity Conference (COP16) in Colombia, and the UN Climate Conference (COP29) in Azerbaijan. Discussions also advanced on a legally binding treaty on plastic pollution and desertification. While some progress was made, unresolved issues underscored the need for stronger international cooperation.
UNEP’s flagship reports in 2024 underscored major environmental concerns. The Emissions Gap Report warned that countries must take immediate action to close emissions gaps or risk missing the Paris Agreement’s 1.5°C target. The Adaptation Gap Report found that international public adaptation finance to developing nations increased by $6 billion from 2021 to 2022 but remains insufficient to meet global needs.
Meanwhile, UNEP’s Methane Alert and Response System has issued over 1,000 notifications to governments and companies, leading to the mitigation of major leaks in Algeria and Nigeria, preventing emissions equivalent to those from 1 million cars in a year.
UNEP also helped mobilize substantial funding for sustainable projects, supporting electric mobility, renewable energy, and low-emission buildings. These initiatives are expected to benefit over 17 million people and cut nearly 300 million tonnes of greenhouse gas emissions—comparable to removing 65 million cars from the roads.
Reflecting on the year, UNEP Executive Director Inger Andersen emphasized the challenges and importance of international collaboration: “The reality is that environmental multilateralism is sometimes messy and sometimes arduous. But even in complex geopolitical times, collaboration across borders and across our differences is the only option to protect the foundation of humanity’s existence – Planet Earth.”
Andersen called for urgent action in 2025, particularly in reducing greenhouse gas emissions, increasing climate adaptation financing, and finalizing a global agreement on plastic pollution before UNEA-7 in December.
