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Current policies fail to get even close to 2˚C let alone the Paris Agreement ambition of well-below 2°C. Current policies incl. baseline IEA STEPS and NDCs 2.7 -3.5°C – Paris aligned scenarios.
Investors acknowledge that there will be a policy response, and that it will be delayed and disruptive. The longer the delay, the more disorderly, disruptive and abrupt the policy will inevitably be. The effects of a changing climate are a national security issue.
