World Experiences Historic Warmest Day Yet, in Conjunction with Rising Greenhouse Gas Levels

The world is facing a climate crisis of unprecedented proportions, with potential losses reaching an alarming $84 trillion by the end of the century if the situation worsens. This dire prediction comes as the UN warns that the world is already on track to warm well above 2C.

Global fossil fuel consumption has more than doubled in the last 50 years, reaching over 8 billion metric tons in 2018. This reliance on fossil fuels has contributed significantly to the increasing greenhouse gas (GHG) emissions, a consequence of more than a century of such activities, as stated by the Intergovernmental Panel on Climate Change (IPCC).

The El Niño weather phenomenon, known for its unpredictable and extreme weather conditions, has returned this year. This reemergence is making it "very likely" global average temperatures will exceed 1.5C of warming. If unchecked, the El Niño will push global temperatures "off the charts".

In May 2023, CO2 levels in the atmosphere peaked at 424 parts per million (ppm), according to the National Oceanic and Atmospheric Administration (NOAA). This record was broken from the previous record of 16.92C (62.46F) recorded in August 2016. The hottest day ever globally was recorded on Monday, with an average temperature of 17.01C (62.62F).

The El Niño weather phenomenon is currently causing intense heatwaves in regions such as China, India, the UK, and the southern US. A recent study found that the estimated losses in GDP caused by the El Niño weather pattern are a hundred times higher than previously thought, amounting to about US$3.4 trillion.

Limiting global temperature rise to 1.5C is still possible, but immediate action is needed as we are rapidly running out of time. If global average temperatures exceed 1.5C, it will significantly worsen the risks of drought, floods, and extreme heatwaves.

The upcoming UN climate summit in Dubai, COP28, might be the world's last chance to change the course of history. The stakes are high, and the world needs to act now to prevent the catastrophic consequences of the climate crisis. The monthly mean carbon dioxide record at Mauna Loa Observatory, Hawaii, is yet to be provided.

In conclusion, the climate crisis is a pressing issue that demands immediate attention. The world needs to reduce its reliance on fossil fuels, increase its use of renewable energy sources, and take other necessary measures to limit global warming and prevent the potential losses from the climate crisis from reaching $84 trillion by the end of the century. The upcoming COP28 summit offers a glimmer of hope, but the world needs to act swiftly and decisively to seize this opportunity and secure a sustainable future for generations to come.