The Paris Agreement of 2015 saw the world’s governments commit to preventing the worst impacts of climate change by limiting global warming to well below 2°C above pre-industrial levels and to pursue efforts to limit the temperature increase even further to 1.5°C. However, commitments from governments have so far fallen short of what is needed to achieve this goal. In fact, it is estimated that existing governmental commitments need to be increased five-fold in order to stand a chance of keeping warming below 1.5°C.
The Intergovernmental Panel on Climate Change 2018 Special Report on Global Warming of 1.5°C only reinforced the need for urgent climate action from all sectors and nations, and proved that half a degree can make a world of difference. This is the new market reality for businesses who must step up and play a leading role in our only future, but it requires a fundamental change in mindset. Existing technology can deliver the future we desire, including meeting the Paris Agreement targets, but only through accelerated scaling on many fronts.
This report shows that those who adopt the opportunity mindset — a fundamental prerequisite to climate leadership — can stand to profit in multiple ways from aligning with a 1.5°C scenario.