“PricewaterhouseCoopers (PwC) is the world’s largest professional services firm, and the largest of the “big four” accountancy firms. As such, it is by definition, a careful, conservative organisation.
Last November PwC released their annual Low Carbon Economy Index report and it makes for very sobering reading. Especially given this report comes from PwC, not an organisation particularly known for its activism on climate matters.
Here at GreenMonk we have tended to dial back on the climate rhetoric in recent years because of the divisiveness of the reactions it tends to generate. However, we felt a responsibility to give this report an airing given the consequences of its conclusions.
What does the report say?
Its key findings are:
- The average rate of decarbonisation globally has been 0.8% a year since 2000 (it was 0.7% in 2011)
- The required rate of decarbonisation globally to meet a 2°C warming target is now 5.1% a year, every year from now to 2050, so
- Businesses, governments and communities across the world need to plan for a warming world – not just 2°C, but 4°C, or even 6°C
In case you are unfamiliar with centigrade that translates to planning for a warming world of not just 3.6°F but 7.2°F or even 10.8°F. ”