After examining 184 pledges, only 36 pledges were found to be on track to fulfill the emissions target. Nearly 12 of them were partially sufficient and 136 were partially or totally unable to meet their commitment.
"The comprehensive examination found that with few exceptions, the pledges of rich, middle income and poor nations are insufficient to address climate change," he added. The failure to meet emissions target could drastically increase the number of extreme weather events.
The report titled 'The Truth Behind the Paris Agreement Climate Pledges" calculated that the numbers of hurricanes, severe storms, wildfires and droughts are likely to double, causing major infrastructure and agricultural losses, costing the world around 2 billion U.S. dollars per day by 2030.
The pledge submitted by the U.S. under the Obama Administration committed to reducing emissions by 26-28 percent by 2025 is in "limbo," the report said.
"Even if all climate pledges, which are voluntary, are fully implemented, they will cover less than half of what is needed to limit the acceleration of climate change in the next decade," added Watson.