“Unveiling the Path to Sustainable Growth: G20’s Data-Driven Climate Action”
The Group of Twenty (G20) is intensifying efforts to improve climate-related data through the third phase of the Data Gaps Initiative. This initiative aims to integrate climate data with macroeconomic statistics to better understand the environmental impact of economic activities and the effectiveness of climate policies.
One key metric highlighted in the Chart of the Week is greenhouse gas emission intensities, which measure emission levels relative to industry output. The data show promising trends, with notable reductions in emission intensities in agricultural and industrial sectors, including electricity, mining, and water industries. These sectors account for over 75 percent of all G20 emissions and are among the most emission-intensive.
While there have been improvements in emission intensities, the overall pace is still insufficient to decouple economic growth from emissions in time to meet climate goals. The 2023 Intergovernmental Panel on Climate Change report indicates that global greenhouse gas emissions need to decline by at least 43 percent by 2030 compared to 2019 levels to limit global warming to 1.5 degrees Celsius.
Despite progress, there are significant gaps in data coverage, with most G20 economies lacking regular production of climate-related statistics or sectoral detail. This lack of robust data hampers effective decision-making and management of environmental impact.
To fully understand global progress, it is essential to account for emission reductions achieved by shifting pollution-intensive activities outside of the G20. The initiative aims to expand carbon footprints for the G20 to reflect each country’s emissions, regardless of where they occur.
The ongoing efforts under the third phase of the Data Gaps Initiative play a crucial role in aligning economic policies with sustainable goals. As countries continue to improve their measurement and management of environmental impact, progress towards a lower carbon economy is expected.
For more detailed information on the progress of the Data Gaps Initiative’s third phase, the full report can be accessed here. Data produced in this area can also be accessed from countries’ dissemination platforms and the IMF’s Climate Change Indicators Dashboard.