Transition to a Low Carbon World
The world is on track to warm by 3Cº by the end of the century* — a level that would disrupt life around the planet.
Coral reefs would disappear with 2Cº of warming, but if warming were limited to 1.5Cº, some would survive. The Arctic would experience a sea ice-free summer once a decade, compared with once a century if warming were limited to 1.5Cº. Within 1.5Cº limit, 420m fewer people would face heat waves.
Global CO2 emissions, which had been flat in 2015 and 2016, started to rise again in 2017 and 2018 primarily because of increasing consumption of coal, oil and natural gas to support an ever-growing demand for energy.
Global pledges to reduce carbon emissions are inadequate and fall far short of the 2Cº and let alone 1.5Cº target set by the Paris accord. In fact, they correspond to about 3.2Cº of warming by the end of the century. *
The type of change required to limit warming to 1.5Cº is unprecedented and should cover areas such as energy, industrial production, transportation and land management.
Emissions would need to be slashed by 55% by 2030.
While political silence is deafening, financial industry should accelerate the rate of new investments into low carbon infrastructure. Odyssey Impact Investments have an advanced pipeline of projects with a tangible impact in the domain of energy transition and single use plastic reduction. See Investors page for further details.
* IPCC climate change report, 8th October 2018; UNEP report, 26th November 2019