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Two Futures for Global Development

Two Futures for Global Development
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The Moral Imperative for Climate Finance

There is some good news on global climate change. The International Energy Agency suggests we are “at the beginning of the end” of the fossil fuel era, with ‘peak fossil’ likely this decade. And the consensus amongst climate modelers appears to be that the worse scenarios historically used by the IPCC for the potential extent of climate change called SSP5-8.5 and SSP3-7.0 are now likely to be avoided. The ‘reference scenario’ of what will happen absent further policy change on current trends is closer to the RCP 4.5 scenario outcome, or about 2-3 degrees centigrade of warming by century’s end.

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