Overcoming obstacles to find opportunities in climate change

By Susan McGeachie | April, 22 2021

Climate change is one of the world’s toughest problems. On one side is how the drivers of greenhouse gas (GHG) emission reductions—whether they’re policy changes, technological advancements, or shifting access to capital—will affect our economic performance. The second is that, if these drivers aren’t successful in delivering the required level of emission reductions, we’re going to have increasingly erratic weather, which can also negatively affect the economy.

There is overwhelming global consensus among the scientific community that rising global temperatures are directly correlated with increasing GHG emissions in the atmosphere. While many countries have signed the Paris Agreement, committing to limit the global temperature increase to well below 2°C by 2050, and target 1.5°C, current action indicates that we won’t be able to do enough to reverse the physical threat. We can therefore expect to see turbulent, unpredictable weather conditions wreaking havoc in our natural environment and built infrastructure. Delayed attempts to mitigate these events could lead to an abrupt shift away from high-GHG-emitting industries, with a significantly greater negative impact on the economy compared to a planned, gradual shift.

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