New Financial Conditions, Same Climate Calculus
In its most recent assessment, the Intergovernmental Panel on Climate Change (IPCC) offered a comprehensive outline of what it will take to keep global warming below 1.5 degrees Celsius, relative to pre-industrial levels, in line with the 2015 Paris climate agreement. The bottom line is simple: Greenhouse-gas (GHG) emissions must peak by 2025. To achieve that goal, financial flows must rapidly be redirected from fossil fuels toward renewable energy.