World leaders on track to miss climate change targets and it could cost billions, warns Schroders

(The Independent, 17 Jul 2017) The investment giant argues that global temperatures are set to rise by more than 4 degrees above pre-Industrial Revolution levels, way above what was agreed in 2015 by world leaders in Paris.

Schroders, the UK’s biggest publicly listed asset manager, has issued a striking warning on the effects of climate change and cautioned that the world is on track to widely miss targets set out by the Paris Agreement.

In a report published on Monday, the investment giant argues that global temperatures are set to rise by more than 4 degrees above pre-Industrial Revolution levels, overshooting the 1.5 to 2-degree target agreed by almost 150 world leaders in Paris back in 2015.

“Climate change is a major challenge for the global economy, industries and financial markets. However, too little attention is paid to developing the tools to manage the risks it presents,” said Andy Howard, head of sustainable research at Schroders.

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The Independent, 17 Jul 2017: World leaders on track to miss climate change targets and it could cost billions, warns Schroders