Salient to Investors:
EU leaders didn’t discuss climate strategy at their four summits this year, and the matter didn’t emerge during US presidential debates.
Fatih Birol at the IEA said climate policy is sliding off the international policy agenda. Scientists are increasingly concerned that the time to react is passing. Birol said the more we put off tacking climate change, the more costly it will be, making it even more difficult to have an agreement – a vicious circle.
EU’s 5 biggest economies have lowered support for renewables in the past 2 years.
20111 was the 9th warmest on record, while 9 of the 10 warmest years since 1880 have occurred since 2000.
The World Bank says that 4 degrees of warming by 2100, possible without a major action, would cause cataclysmic changes, including a 3-foot rise in sea levels, depleted crop yields and dissolving coral reefs.