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Are the COP climate summits working?
- Investment Management
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- 17.11.22
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The urgency to have yearly action-driven COPs comes from the increased realisation that just half a degree difference between 1.5C and 2C unleashes a far more severe version of climate change and its effects. The world has already warmed to around 1.1C above pre-industrial times and is considered to have less than 10 years left to limit warming to 1.5C. According to the IPCC, the global CO2 budget runs out at the end of 2030, leaving only one of these ‘peak-year’ COP meetings before 2030. We need to move beyond these five-year action cycles of COP and see year-on-year action-driven events....