The Financial Times opinion piece linked in the bullet below and from which the chart is taken has used the IEA data that we have featured in recent work. The piece comprehensively walks through how the world is likely to come up short, and while it gives the measures that are needed and the money that likely needs to be spent, it is not an optimistic review of what will most likely occur. We remain firmly of the belief that much more progress could be made if there was a global agreement to make carbon very expensive – accompanied by an agreement on how to share the spoils of that expensive carbon such that the inflationary pressures are offset where they are most needed and that environmental injustices are minimized – this is idealistic are we recognize that.
