Source: Predicting climate chaos, Morgan Stanley touts air conditioning profit potential
Last week, E&E News reporter Corbin Hiar unearthed an obscure but important research report from Morgan Stanley, one of the largest banks in America and one of the world’s biggest funders of fossil fuel projects.
In that report distributed March 17, Morgan Stanley analysts told investor clients that they believe the world is hurtling toward one of the most dangerous, terrifying global warming scenarios imaginable.
“We now expect a 3°C world,” the analysts wrote, citing “recent setbacks to global decarbonization efforts.”
The analysts didn’t describe what a 3°C world actually means, so here’s the gist. A world warmed by 3°C is one that’s rapidly falling apart. Every single coral reef in the ocean is dead. Entire regions of the world are too hot for human life. Nature is continuously throwing tantrums—droughts, wildfires, powerful storms, and unimaginable rain, location depending. There are food shortages and mass extinctions. Up to 40 percent of the world’s economy is wiped out.
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