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times higher than the UK's own greenhouse gas emissions (excluding aviation and shipping). Financial organisations thus have a major role to play in the decarbonisation of the globaleconomy, yet it is estimated that since the Paris Agreement in 2015, the 60 largest banks have instead invested $5.5
Global average temperatures are now about 1.2 degrees C cap on average warming that governments pledged to aim for when they signed the 2015 Paris Climate Agreement to avoid dangerous climate change. In the Arctic, temperatures are rising at twice the global rate. degrees Celsius above pre-industrial levels.
Globalization has broadly been a catalyst for global growth For a number of LMICs, the expansion of international trade in the second half of the 20th century was an integral part of their economic transformation. As a percentage of GDP, trade grew from roughly one quarter of the world economy in 1960 to over one half by 2015.
Ahead of COP26, the Mission Possible Partnership released industry-backed roadmaps for steel, shipping and aviation, demonstrating it is technically and economically feasible for hard-to-abate sectors to develop pathways to net zero across their value chains this decade. Achieving the commitment could reduce overall global warming by 0.2°C
This interview with Joan Martinez Alier and Federico Demaria, from the research team of the Environmental Science and Technology Institute (ICTA) of the Autonomous University of Barcelona (UAB) explains how a global movement for environmental justice has risen. They also make the connection with the globaleconomy and the need for degrowth.
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