Karl Steininger, Thomas Schinko, Harald Rieder, Helga Kromp-Kolb, Stefan Kienberger, Gottfried Kirchengast, Claudia Michl, Ingeborg Schwarzl and Sonja Lambert explore this question in the recently published background paper, and a CCCA Fact Sheet has now been produced from it as well.

The "global greenhouse gas budget" is the total quantity of greenhouse gases in tonnes of carbon dioxide equivalents (CO₂eq) that may still be released into the atmosphere worldwide in order to achieve the goals of the Paris Climate Agreement with a specified probability. The "global CO₂ budget", commonly referred to as the global "carbon budget", is the total amount of globally permissible CO₂ emissions still available for achieving the Paris climate targets.

The international greenhouse gas emissions metric in accordance with UN reporting uses the production-based approach. However, if a comprehensive assessment is to be made of whether a national economy or society is moving towards decarbonisation, both the emissions generated within the country (production-based) and foreign trade relationships (consumption-based) must be included and appropriately reflected.

This and further Fact Sheets!