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Feb 26 2020
Summary
- In the past 3 months, Jeff Bezos, Microsoft, Goldman Sachs, BlackRock, KKR and Delta have each made sizable commitments in addressing climate change.
- Estimates for temperature increases are narrowing and converging to an approximate 3°C increase by 2100 – well beyond the Paris Agreement’s 1.5°C threshold for avoiding substantial impact.
- The specificity of the initiatives and dollar size of the commitments suggest they believe it makes economic sense to invest in preparations for the most likely future scenario.
- Now that the window to achieve 1.5°C based on carbon reduction alone has passed, carbon removal and widespread adaptation will have to be part of the answer.
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