The UN Intergovernmental Panel on Climate change (IPCC) released a report today which says that urgent and rapid changes are required in order to keep global warming to a maximum of 1.5C. Without the changes, more extreme temperatures and precipitation are likely alongside higher sea-levels and other impacts.
Global temperatures have already risen by about 1C. To limit increases to 1.5C will require “far reaching” changes in energy, land, urban, infrastructure and industrial systems. They will also require significant changes in behaviour by individuals including what we eat (less meat), what we drive (more electric) and how we interact (more virtual). These changes present a series of risks to incumbent companies and opportunities for incumbents and for new entrants. They also present challenges for governments about how best to coordinate internationally and act domestically.
Frontier Economics is this week publishing a Climate Change special edition of its regular e-magazine ‘Frontier Focus’. To receive a copy of this edition which discusses climate change issues across a range of sectors please register here.