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Your Climate Action Diary - 40

Year 2023 • Week 22 • Anushthatri Sharma
Hi,

Hope you are well !
This week we go back to basics. The World Meteorological Organization (WMO) which has been assessing (since 2000) the likelihood of surpassing the 1.5°C global warming threshold annually has indicated 66% chance of this happening within the next five years. For context, this was first calculated to be 20% in 2000.

All things said, our political leadership is failing us. Or put it another way, we are failing to ensure our political leadership looks at problem-solving climate with priority. 

Stay mindful, 

Harish, 
Team OnePointFive Tribe

Controversy Surrounds COP-28 Leader's Fossil Fuel Ties

Appointment of Sultan al-Jaber, head of UAE's State Oil Company as the Leader of this year's UN COP-28 climate summit has faced massive criticism urging for his removal. In a joint letter addressed to the UN, European Commission President Ursula von der Leyen, US President Joe Biden along with the 130 lawmakers expressed deep concerns about the significant influence exerted by the fossil fuel industry during the climate talks.

Global Warming To Breach 1.5°C Limit For The First Time

The Earth's temperature is on the verge of surpassing a crucial threshold, as global warming is poised to exceed the critical limit of 1.5°C for the first time. The World Meteorological Organization (WMO) has been assessing the likelihood of surpassing the 1.5°C threshold annually since 2020. Initially, the chances were estimated to be less than 20% over the next 5 years. However, the latest analysis indicates a significant jump to 66%.

Climate Lawsuits Cause Major Polluters' Stock Prices To Fall

Civil society efforts to hold polluting companies accountable for climate change have resulted in both climate justice and a shift in investor perception. A recent paper quantifies the impact by revealing that major polluters experience stock price declines following climate lawsuits or unfavorable court verdicts. The study was conducted by the Center for Climate Change Economics and Policy and the Grantham Research Institute, affiliated with the London School of Economics and Political Science.

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