before. they re impossible without the existing climate change like we re dealing with right now. global leaders from around the world are descending on the red sea to try to hash out some kind of agreements. but as it stands now, all countries need to improve their emissions targets, including the u.s. and china particularly to get us to a more livable future. president biden will be here later this week, trying to rally people around the white house s plans regardless of what happens during the midterm elections. one of the big contention points is that developing countries, poorer countries feel they have very little to do very little responsibility over climate change with historic emissions, but they re being punished by the effects of climate change. one tense bit of negotiation here, christine, will be those countries trying to get money, funding, not just to adapt to what we see in the future, but also because people are now admitting that we haven t done
florida. thank you for tracking it. so let s go to egypt. the u.n. secretary general is declaring the world is losing fight against climate change as catastrophic results that we re already seeing. delegates are gathering for the cop 27 climate conference. the u.n. chief is not the only one offering a bleak assessment of progress on this issue. david mckenzie is in egypt at this hour. what are huhheriearing from the leaders gathering there. what we re hearing from leaders and those pushing for change is action, action, action. and a lot people telling me talk is not enough. there needs to be a change and it needs to come fast. if you look at emissions targets, we are blowing past what we need to do in terms of keeping the temperatures to a liveable level. the world needs to cut emissions by 45% to get to the paris agreement target that would mitigate some of the worst impacts of the climate change.
as economic growth is like today, that we can continue to expand and still stay in line with our emissions targets. so let me ask you a related question, which is to what extent would it be fair to describe you as an opponent of capitalism? i think that all ideologies, capitalism included, have failed. how can you say capitalism has failed when capitalism is one of the reasons that 850 million people are no longer living in absolute poverty in china? if we continue on the path that we are today, it will mean that we are wrecking our future living conditions and our life supporting systems will break down, which will mean increased poverty, which will mean that people slip back into poverty, it will mean more famine. you have used humour a lot on social media when you are trolled by world leaders, and you respond by trolling them back. i just think it s genuinely funny.
because it is something that people feel so strongly about. but isn t it part of the mix of a green agenda? if we were to build and replace our current fossil fuel generated energy with nuclear power, we don t have the time to do that because our c02 budget runs out in less than a decade at current emissions. would you ever go into politics? i don t want to. why? don t you feel an obligation, a duty? it feels like that world is so toxic. but also the main reason is that as it is now, the changes necessary will only come if there is enough public pressure from the outside. to what extent is it fair to describe you as an opponent of economic growth? i think that it s very naive to think that we can continue like now as business as usual, as economic growth is like today, that we can continue to expand and still stay in line with our emissions targets.
A survey conducted by the Carbon Disclosure Project ("CDP"), an environmental disclosure platform, and Oliver Wyman, a management consulting firm, suggests that corporate emissions targets across G7 countries are not in.