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UN Secretary-General António Guterres at a news conference. Photo: Fabrice Coffrini/AFP

A United Nations report released Friday warned that the planet will likely warm by more than 2.7 degrees Celsius by the end of the century unless governments take extra steps to curb greenhouse gas emissions.

Why it matters: The report, released just months ahead of November's UN Climate Summit, highlights the growing pressure on global leaders to crack down on emissions to avert the worst effects of climate change.

Driving the news: For the report, 113 countries, including the United States, submitted new pledges that would add up to a 12% decline in emissions by 2030 compared with 2020 levels.

  • But dozens of countries, including China, India and Saudi Arabia, didn't make any new formal commitments.

The big picture: Taken together, the current climate pledges made by all 191 signatories of the Paris climate accord would result in a 16% increase in emissions over 2010 levels.

  • The report indicates that the world must sharply increase efforts to curb emissions to meet the chief goal of the Paris accord, which calls for warming to be limited to 1.5 degrees Celsius (2.7 degrees Fahrenheit) above preindustrial levels.

What they're saying: "Today’s report ... shows that the world is on a catastrophic pathway to 2.7-degrees of heating," UN Secretary-General António Guterres said in a statement.

  • "This is breaking the promise made six years ago to pursue the 1.5-degree Celsius goal of the Paris Agreement. Failure to meet this goal will be measured in the massive loss of lives and livelihoods."
  • The UN chief added that the world has "the tools to achieve this target. But we are rapidly running out of time."

The bottom line: "It is time for leaders to stand and deliver, or people in all countries will pay a tragic price," he said.

Go deeper: UN climate summit warning signs are adding up

Go deeper

Ben Geman, author of Generate
Oct 16, 2021 - Energy & Environment

Key clean power provision likely won't survive in Dems' spending bill

A construction worker walks along a dirt road at the Avangrid Renewables La Joya wind farm in Encino, New Mexico, on Aug. 5, 2020. Photo: Cate Dingley/Bloomberg via Getty Images

A pillar of Democrats' plans to speed deployment of zero-carbon electricity is likely to be cut from major spending and tax legislation they are struggling to move on a party-line vote, per multiple reports and a Capitol Hill aide.

Driving the news: The New York Times, citing anonymous congressional aides and lobbyists, reports that West Virginia Sen. Joe Manchin (D) has told the White House he "strongly opposes" the Clean Electricity Performance Program.

UNC race conscious admissions process upheld by judge

Students walk through the campus of the University of North Carolina at Chapel Hill on Aug. 18, 2020 in Chapel Hill, North Carolina. Photo: Melissa Sue Gerrits/Getty Images

The University of North Carolina at Chapel Hill can continue its race conscious admissions process, a federal judge ruled on Monday.

Why it matters: The case could end up in the Supreme Court after the conservative nonprofit Students for Fair Admissions (SFFA) vowed to appeal the judge's ruling that UNC didn't discriminate against against white and Asian American applicants in its policy that it said was designed to increase diversity.

SEC debunks conspiracy theories about meme stock mania

Photo: Alessia Pierdomenico/Bloomberg via Getty Images

The SEC issued its long-awaited report on the meme stock mania, which downplayed the narrative that a "short squeeze" was the primary driver behind GameStop's historic stock moves — and shot down conspiracy theories about the event.

Why it matters: The postmortem was highly anticipated, largely because of what it could hint about what the regulator thinks should be done in wake of the saga. But the report stopped short of specific policy recommendations.