Climate change denial may be at a tipping point. The US military took it seriously, then the World Bank, now 200 Investment Firms Issue A Warning On Climate Change.
An alliance of 200 investment institutions includes Scottish Widows, Aviva and HSBC and controls $21 trillion (£13 trillion) of assets worldwide is lobbying ministers as part of a broader campaign for action from leading global economies,...
... the alliance urges "a new dialogue on climate-change policy" and "predictable policies that encourage low-carbon investment".
The combined effect of all these changes could be even worse, with unpredictable effects that people may not be able to adapt to, said John Schellnhuber, director of the Potsdam Institute for Climate Impact Research, which along with Climate Analytics prepared the report for the World Bank.
"If you look at all these things together, like organs co-operating in a human body, you can think about acceleration of this dilemma," said Mr Schellnhuber, who studied chaos theory as a physicist. "The picture reads that this is not where we want the world to go." [emphasis mine]
Along with some technology breakthroughs, such as the solar energy breakthrough from Rice University, I'm feeling optimistic at last. If the fossil fuel industry loses it's ideological dominance over the business world, we might finally be able to move forward and invest in clean energy. On the down side, that big project to harvest solar energy in Africa for Europe, Desertec, seems to be in trouble.
Even doubling our current annual rates of decarbonisation globally every year to 2050, would still lead to 6C, making governments’ ambitions to limit warming to 2C appear highly unrealistic.
This isn’t about shock tactics, it’s simple maths. We’re heading into uncharted territory for the scale of transformation and technical innovations required. Whatever the scenario, or the response, business as usual is not an option. [emphasis mine]
These quotes from
The PriceWaterhouseCoopers report is sobering.