JP Morgan economists warn of ‘catastrophic’ climate change

To mitigate climate change net carbon emissions need to be cut to zero by 2050. To do this, there needed to be a global tax on carbon, the report authors said. But they said that "this is not going to happen anytime soon".

02/20/2020 Rachel Kennedy Environment 0

Human life “as we know it” could be threatened by climate change, economists at JP Morgan have warned.

In a hard-hitting report to clients, the economists said that without action being taken there could be “catastrophic outcomes”. The bank said the research came from a team that was “wholly independent from the company as a whole”.

Climate campaigners have previously criticised JP Morgan for its investments in fossil fuels. The firm’s stark report was sent to clients and seen by BBC News. While JP Morgan economists have warned about unpredictability in climate change before, the language used in the new report was very forceful. See the BBC for the rest of the article:

More excerpts from the astonishingly truthful JP Morgan report:
"Although precise predictions are not possible, it is
clear that the earth is on an unsustainable trajectory. Something
will have to change at some point if the human race is
going to survive."
— Rupert Read 🌍 🔥 (@GreenRupertRead) February 20, 2020

Humans left sustainability around 1970 when the pop was 3.7bn and have been digging ever since. Pop is now 7.7bn and we're chewing through 1.7 earths every year. We're now soaring so far above sustainability it's hard to even grasp the concept any more.https://t.co/mKzY4xaAbv
— 51K Risk Assessor tells the truth about climate (@MarkCranfield_) February 20, 2020