Climate change: Asia-Pacific firms’ emissions could cause Earth to warm by 2.9 degrees, wreak havoc, MSCI says
- Emissions from listed companies in Asia-Pacific are on track to warm the planet by 2.9 degrees Celsius by the end of the century, MSCI says
- Governments’ climate change mitigation commitments made so far could contain global warming to between 2.4 and 2.6 degrees, according to the UNEP
Emissions from listed companies in Asia-Pacific are on track to warm the planet by 2.9 degrees Celsius by the end of the century, almost double the 1.5 degrees needed to avert disastrous consequences of climate change, according to MSCI, the world’s biggest index provider.
This is similar to 2.8 degrees of warming the world is expected to see based on existing policies and committed funding, according to recent estimates by United Nations experts.
Governments, companies and their financiers have to do more to put the world on a sustainable track, analysts said.
“There is some convergence between what we are seeing in our model designed for asset managers, and what global policymakers are producing,” Sylvain Vanston, executive director for climate change investment research at MSCI, said in an interview earlier this week.
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“Nonetheless, the new climate commitments from countries globally, if implemented, will lead to more stringent regulations at the local level, which should trickle down to industries and companies, requiring them to make extra commitments.”
