Key takeaways from the new IPCC climate report
The recent IPCC climate report is important because it is approved by 195 governments and based on more than 14,000 studies, representing the most comprehensive summary to date of the physical science of climate change. Furthermore, the report will be in the center when diplomats gather in November at a U.N. climate summit in Glasgow (COP26). Despite all the alarming facts, there are some optimistic tones in the report as well. If we can orchestrate a coordinated global effort to stop adding CO2 to the atmosphere by 2055, global warming would likely halt and level off at around 1.5°C. That would require moving away from fossil fuels starting immediately, as well as removing large amounts of carbon from the atmosphere. We believe that the financial services sector can play an important part in this endeavour.