Big Banks Quietly Prepare for Catastrophic Climate Change
- Top Wall Street institutions, including Morgan Stanley and JPMorgan Chase, are preparing for severe climate impacts as they acknowledge that limiting warming to 2 degrees Celsius is almost impossible.
- Morgan Stanley analysts predict a 3°C rise in temperature, resulting in severe droughts and extreme heat, which could double the growth rate of the cooling market by 2030.
- JPMorgan's CEO Jamie Dimon emphasized the bank's commitment to financing a transition to cleaner energy while acknowledging that capital will move at scale only when the economics make sense.
- The Institute of International Finance reported that limiting warming to 1.5 degrees Celsius is almost certainly unachievable and cites analyses backing this claim.
Insights by Ground AI
Does this summary seem wrong?
10 Articles
10 Articles
All
Left
3
Center
Right
1
Coverage Details
Total News Sources10
Leaning Left3Leaning Right1Center0Last UpdatedBias Distribution75% Left
Bias Distribution
- 75% of the sources lean Left
75% Left
L 75%
R 25%
Factuality
To view factuality data please Upgrade to Premium
Ownership
To view ownership data please Upgrade to Vantage