I’m not sure how many people will be surprised by this, but the data on global temperatures seem to indicate we are on our way to blowing past the IPCC 1.5 degree scenario – probably the most common climate scenario used by businesses for planning and regulatory disclosures. According a new article from the The Guardian:
“The world has baked for 12 consecutive months in temperatures 1.5C (2.7F) greater than their average before the fossil fuel era, new data shows. Temperatures between July 2023 and June 2024 were the highest on record, scientists found, creating a year-long stretch in which the Earth was 1.64C hotter than in preindustrial times.”
The Guardian gives some context:
“The findings do not mean world leaders have already failed to honour their promises to stop the planet heating 1.5C by the end of the century – a target that is measured in decadal averages rather than single years.”
True, but Advisory Board member Mark Trexler offered advice three years ago that companies should audit their climate assumptions and specifically called out whether the 1.5 degree scenario is still appropriate. That’s some hot advice…
Our members can learn more about climate risks and related issues here.
If you aren’t already subscribed to our complimentary ESG blog, sign up here for daily updates delivered right to you.
