Remaining Carbon Budget
The IPCC defines the world’s remaining carbon budget as the cumulative net global anthropogenic CO2 emissions to the time that emissions reach net zero that would result in limiting global warming to a given level, accounting for the impact of other anthropogenic emissions. In other words, it allows us to calculate how much CO2 can still be released to limit global warming to a maximum of 1.5°C and 2°C, respectively. Currently, emissions equivalent to 42 gigatonnes (Gt) of CO2 are released globally every year. The following MCC Carbon Clock shows that time is ticking very fast and that we urgently would need to decarbonize our global supply chains.