Commenting on the WMO State of the Global Climate in 2023 report, Emma Cox, Global Climate Leader at PwC UK, said:
“The world is falling dangerously short of the ambition that is needed to secure a safe future climate, and as a result we need to fight to prevent every fraction of a degree of warming.
“The world's collective failure to get to grips with climate change leaves us on the cusp of an unpredictable and economically destructive time. We must now bend the curve on emissions growth and urgently seize the opportunity to realign our global economy and net zero pathway with a 1.5°C future climate.
“PwC’s latest Net Zero Economy Index shows that a year-on-year decarbonisation rate of 17.2% is now required to limit global warming to 1.5°C above pre-industrial levels - seven times greater than what was achieved over the last year (2.5%) and 12 times faster than the global average (1.4%) over the past two decades.
“But dramatic change is possible when business and policy makers align. This year can be the one that finally unlocks the true power of business, the capital markets and competition to spur breakthrough innovation, accelerated emission reductions and mass behavioural change. The result of our choices now will be definitive for future generations.”
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