IPCC report: Climate change widespread, rapid, and intensifying

Yesterday the IPCC, Intergovernmental Panel on Climate Change (IPCC) released the Working Group I contribution to the Sixth Assessment Report. The full report will be released in 2022.

The report provides new estimates of the chances of crossing the global warming level of 1.5°C in the next decades, and finds that unless there are immediate, rapid and large-scale reductions in greenhouse gas emissions, limiting warming to close to 1.5°C or even 2°C will be beyond reach.

“This report reflects extraordinary efforts under exceptional circumstances,” said Hoesung Lee, Chair of the IPCC. “The innovations in this report, and advances in climate science that it reflects, provide an invaluable input into climate negotiations and decision-making.”

IPCC report key points

  • Global surface temperature was 1.09C higher in the decade between 2011-2020 than between 1850-1900.
  • The past five years have been the hottest on record since 1850
  • The recent rate of sea level rise has nearly tripled compared with 1901-1971
  • Human influence is “very likely” (90%) the main driver of the global retreat of glaciers since the 1990s and the decrease in Arctic sea-ice
  • It is “virtually certain” that hot extremes including heatwaves have become more frequent and more intense since the 1950s, while cold events have become less frequent and less severe.

Read the full IPCC report here. You can find the IPCC press release here.

At Redevco we also want to do our part. Therefore in 2019 we have committed to making its entire portfolio net zero carbon by 2040 as part of its ongoing efforts to act responsibly and reduce its impact on the environment. Clemens Brenninkmeijer, Head of Sustainable Business Operations at Redevco, said: “We believe that we can make a significant impact by improving the environmental performance of our assets under management. Our sector, responsible for more than 30% of global energy consumption, has a responsibility to find solutions and reduce carbon emissions. Redevco wants to lead by example and show the industry what it means to act responsibly. It starts with us. We need to minimise our impact on the climate and the Earth’s resources.”. Read more in our Responsible Investment Report.