Even the most ambitious carbon emission reduction goals being set by industry are unlikely to avert “catastrophic” temperature increases of more than four degrees centigrade, according to a major new study assessing the potential commercial risks and opportunities associated with climate change.

The report from the Carbon Trust and management consultancy McKinsey & Co claims that even the ” stretch goals” set by many firms attempting to cut carbon emissions are insufficient to avert potentially dangerous levels of climate change.

“Most of the targets out there put us on track for [atmospheric concentrations of carbon dioxide] of 700ppm, which equates to a [temperature] rise of about four degrees,” said Bruce Duguid, head of investor engagement at the Carbon Trust. “These targets are much better than the business as usual scenarios that would result in concentrations of 1,000ppm, but they are still nowhere near enough.” Read more.

Source: Business Green