Maiden Capital | Market Insights

The World Missed A Major Climate Deadline

Written by Daphne Mason | Feb 11, 2025 12:40:21 PM

As temperatures hit record highs and floods grow more severe, U.N. leaders have repeatedly urged nations to step up their climate efforts by updating their emission-cutting plans.

These Nationally Determined Contributions or NDCs are key to meeting the Paris Agreement’s goal of limiting global warming.

Countries were supposed to submit stronger pledges by July 2024—but most missed the deadline, including top polluters like China, India, and the European Union.

This delay highlights a growing problem: global climate action is stalling. Political shifts, economic struggles, and conflicts are pushing climate policies to the back burner. The U.S. rejoined the Paris Agreement under President Biden but submitted its plan late, raising questions about its commitment.

The E.U.—often seen as a climate leader—got stuck in political gridlock after recent elections. China, the world’s largest emitter after the United States, is still finalising its pledge but remains heavily reliant on coal.

Why This Matters

  1. Time is Running Out: The past decade was the hottest on record. Scientists warn that without urgent cuts to emissions, the planet could warm by up to 3°C (5.6°F) by 2100—a level that would worsen disasters, food shortages, and health crises.

  2. No Penalties, Big Risks: Missing the deadline has no consequences, but delays weaken global trust. Developing nations, already hit hardest by climate impacts, feel abandoned by wealthier countries failing to lead.

  3. The Road Ahead: Updated pledges must aim to slash emissions 60% by 2035 compared to 2019 levels. Only 17% of countries met the July deadline, though over 170 are still working on their plans.

There are serious consequences that must be considered as these important deadlines for urgent climate action are missed:

  1. Vulnerable Nations Are Paying the Price: Small island countries and poorer regions face rising seas, droughts, and storms but lack resources to adapt. Delayed action by big emitters puts their survival at risk.

  2. Renewables Are the Fast Fix: Solar and wind energy are now cheaper than fossil fuels in most places. Faster adoption could help countries meet climate goals while creating jobs and stabilizing energy costs.

  3. Public Pressure is Growing: Youth movements like Fridays for Future and climate lawsuits are pushing governments to act. Public demand for action could force leaders to prioritize stronger policies.

While U.N. officials stress that better late than never, experts warn that slow progress risks irreversible damage. With climate disasters accelerating, the world can’t afford to keep hitting snooze on its promises. 

 

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Disclaimer: The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of Maiden Capital. The information provided is meant as a general guide only and should not be construed as investment advice. You should always consult your financial, legal and tax advisers regarding private equity and real estate investments