Opinion: Climate change isn’t just about emissions. We’re ignoring a huge part of the fight (Phys.org)

Last month, we heard yet again about the need to stop global warming at about 1.5 degrees centigrade above pre-industrial levels. The International Energy Agency outlined a plan to meet that goal, and the United Nations secretary-general implored nations to get serious about cutting emissions to make it a reality.

That goal is a fantasy. This summer, global warming already yielded monthly average temperatures that exceeded pre-industrial averages by 1.5 degrees. It took more than a century for global annual average temperatures to reach the first degree, which happened around 2015. Climate data suggest that the next half-degree is likely to happen by the early 2030s, if not sooner, and that 2023 will be the warmest year on record.

Adaptation means lessening the harm caused by storm surges, floods, heat waves, fires and other weather-related perils. It requires new infrastructure, early warning systems and better awareness of how changes in the climate will harm things we value. The best adaptation strategies go further to pursue resilience—the ability to bounce back from destructive changes.

https://phys.org/news/2023-10-opinion-climate-isnt-emissions-huge.html

Author: Christopher K. Merker, Ph.D., CFA

Christopher K. Merker, PhD, CFA, is a director with Private Asset Management at Robert W. Baird & Co. He holds a PhD in investment governance and fiduciary effectiveness from Marquette University, where he has taught the course “Sustainable Finance” since 2009. Executive director of Fund Governance Analytics (FGA), an ESG research partnership with Marquette University, he is a member of the CFA Institute ESG Working Group, an international committee currently exploring ESG standards, publishes the blog, Sustainable Finance, which covers current topics around governance and sustainability in investing, and is co-author of the book, The Trustee Governance Guide: The Five Imperatives of 21st Century Investing.