Counting the cost: global accounting firm PriceWaterHouseCoopers warns of a world of six degrees

Much has been made of the recent World Bank report, but just as important is a recent report from the accounting giant PWC:

Business leaders have been asking for clarity in political ambition on climate change. Now one thing is clear: businesses, governments and communities across the world need to plan for a warming world – not just 2ºC, but 4ºC and, at our current rates, 6ºC.

The report, Too late for 2 degrees makes sobering reading:

Even doubling our current rate of decarbonisation, would still lead to emissions consistent with 6 degrees of warming by the end of the century. To give ourselves a more than 50% chance of avoiding 2 degrees will require a six-fold improvement in our rate of decarbonisation.

A world of 6c is a terrifying thought, but if the world does not correct its current course then that is what we – or more likely are children – will have to deal with.

I spent seven years working for one of the world’s largest accounting firms (not PWC). These are not radical, fringe groups of fervent socialists.

Another sign that climate change denial has passed its peak, and merely the preserve of cranks and outliers.

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17 thoughts on “Counting the cost: global accounting firm PriceWaterHouseCoopers warns of a world of six degrees

  1. Here’s a good chronicle of the climate science denialism Eric Worrall and his fellow denialists suffer from:

    “Why Conservatives Turned Against Science”

    Remember when environmental protection was a bipartisan effort?

    November 5, 2012

    http://chronicle.com/article/The-Conservative-Turn-Against/135488/

    • Eric Worrall says:

      One thing for sure Budgie, you’re experiencing “limits to growth” in the UK right now. Isn’t your heart gladdened by the UK’s admittedly involuntary pursuit of one of the goals of modern environmentalism? Let me know when it starts being fun.

    • Eric Worrall says:

      Funny :-).

      The source of “fossil” fuel is an interesting field though. While much of it is clearly organic, there is plenty of evidence non biological synthesis is possible – for example, places like Saturn’s moon Titan is awash with hydrocarbons which were clearly not produced from living organisms.

      The temperature and pressure of the Earth’s interior is great enough to force hydrocarbon synthesis reactions, at least under laboratory conditions.

  2. john byatt says:

    The IPCC at COP 18 in Doha
    GENEVA, 19 November – The Intergovernmental Panel on Climate Change (IPCC) will be taking part
    in the Doha Climate Change Conference (COP 18 / CMP 8) with a wide-ranging programme of events
    as it prepares to launch the first part of its Fifth Assessment Report (AR5) in September next year.
    The Chairman of the IPCC, Rajendra Pachauri, is due to address the conference on Wednesday, 28
    November, at 15.00 Doha time.
    Also on 28 November, the IPCC will hold two side events to present its two most recent special
    reports: the Special Report on Managing the Risks of Extreme Events and Disasters to Advance
    Climate Change Adaptation (SREX), at 13.15 Doha time, and the Special Report on Renewable
    Energy Sources and Climate Change Mitigation (SRREN), at 18.30. In addition to presentations of the
    contents, the events will include panel discussions in which policymakers and other users will talk
    about how they have used the reports.
    Among other activities, the IPCC will hold the first in a series of background briefings for media in the
    run-up to AR5, intended to explain how the IPCC operates and how it produces reports. Further
    briefings will follow in the coming months.
    Besides Mr Pachauri, several members of the IPCC Bureau will be in Doha. Please send any
    interview requests to ipcc-media@wmo.int .

  3. Eric Worrall says:

    Here’s an amusing article. Turns out the head of WWF UK David Nussbaum is also a non executive directory of a £55 million climate fund “Low Carbon Accelerator” (h/t James Delingpole)

    http://markets.ft.com/research/Markets/Tearsheets/Summary?s=LCA:LSE

    Thanks to the UK’s recently rather lacklustre support for climate change initiatives, his fund has lost more than 50% of its value over the past year.

    A sizeable chunk of his future income depends on the UK reaffirming its now rather wobbly commitment to climate change initiatives.

    No wonder he is making a lot of noise in the media, using his skills and network to agitate for a change of direction. I would be to – if I had all that commitment to the environment and suchlike.

  4. Eric Worrall says:

    PWC are part of the conglomerate of merchant banks who expect to make a fortune looting ordinary businesses who will have to trade in carbon credits, if anyone ever manages to set up a carbon market which lasts more than a few years.

    They and their merchant banking mates were bitterly disappointed at the collapse of the Chicago Climate Exchange http://en.wikipedia.org/wiki/Chicago_Climate_Exchange , and the dismal performance of other climate initiatives and investments.

    So it is understandable that they might hope to recoup some of their losses, by attempting to breath new life into the failed global warming scam.

    • john byatt says:

      so you are happy with 6 degrees eric

      • Eric Worrall says:

        No, I don’t think a 6 degree rise is credible. Such extreme changes are based on climate muddles which are becoming increasingly untenable as the current flatline in global temperatures continues.

        And guess what? In my opinion the merchant banks don’t believe it either. I was at an internal meeting about 6 years ago of a major merchant bank which operates one of the largest shipping fleets in the world, talking to their head of commodities (i.e. the guy in charge of the ships).

        (Merchant banks sometimes operate shipping fleets – it makes it easier to manipulate the options market, if you also control the physical movement of goods).

        In my innocence I asked “Given that the North West passage is now ice free, when do you guys think you will be able to start using it?”

        They looked at each other for a few moments, then the head guy laughed and said “I think I’ll leave that one to Al Gore to answer”.

        Banks only care about money – and they are experts at manipulating the mistakes and follies of others into a profit for themselves.

      • john byatt says:

        six years ago, well eric the northern sea route has been open and used by shipping every year since 2006
        it is actually opening earlier every year

        you can check the graphs easy, too lazy you are

      • john byatt says:

        french, russian, japanese, danish shipping are all using the northern sea route,
        probably others, what was the company name

      • john byatt says:

        how do you find your way home

        northwest passage

        northern sea route
        spot the difference or are you just telling another fib

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