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It’s time to join the ocean-climate (and biodiversity) dots
The cost of the climate crisis is not lost on the insurance world as the most expensive storm in 2022 cost US$100bn while the deadliest floods killed 1,700 and displaced 7m people.
A guest blog by Chris Gorell Barnes, founding partner, Ocean 14 Capital
The latest Intergovernmental Panel on Climate Change (IPCC) report is out. Together with Financing the Transition: How to Make the Money Flow for a Net-zero Economy, the report’s message is clear: the grim reality is that we are likely to reach a temperature increase of 1.5°C sometime between 2030 and 2052. Moreover, emissions need to be reduced by at least 43% by 2030 and 60% by 2035 to avoid this.
Both reports suggest that there is still time and money to achieve a just net-zero transition by 2050. Exactly how is still up in the air, but we ardently believe that the only way to succeed is to join the dots by harnessing the ocean’s power on every level.