Study: Over-consumption and corporates not adapting means climate goal 'not plausible'
Shell has since refuted the charge by Global Witness, claiming its "energy transition" investments account for more than one third of Shell’s total. File photo
It is currently "not plausible" to limit global warming to 1.5C because of excessive consumption and slowness of corporations to take necessary action, a new study has found.
According to the Paris agreement of 2015, a temperature rise limit of 1.5C is the number that scientists say is needed to stave off the very worst climate change fallout.
Such warming of the planet is leading to ever-worsening extreme weather patterns causing mass destruction, as well as a global biodiversity crisis with thousands of species facing extinction if the trend upwards is not halted.
A study by Hamburg University in Germany examined 10 factors needed to keep the planet from going beyond the 1.5C tipping point that is seen as crucial in the fight against climate change.
It found that elements such as UN climate policy, legislation, climate protests, and divestment from the fossil fuels are playing their part in supporting efforts to meet the climate goals, but overconsumption and a lethargy among firms to implement cleaner strategies are hampering it.
Consequently, the scientists argued, what has been achieved to date is insufficient. Accordingly, climate adaptation will also have to be approached from a new angle, they said.
"Actually, when it comes to climate protection, some things have now been set in motion. But if you look at the development of social processes in detail, keeping global warming under 1.5C still isn’t plausible,” said Professor Anita Engels, speaker for the university's Cluster of Excellence “Climate, Climatic Change, and Society” (CLICCS).
"The deep decarbonisation required is simply progressing too slowly,” she added.
The scale of the challenge ahead was laid bare this week with accusations that fossil fuel giant Shell has invested just 1.5% in renewable energy strategies, or around €300m, as opposed to the 12% that it claimed in its last annual report.
Environmental activist group Global Witness complained to the US Securities and Exchange Commission (SEC) over the 1.5% figures, claiming it was an exercise in so-called "greenwashing".
Greenwashing is a term used to describe firms and organisations boosting their environmental credentials and image through slick marketing and evidence-free or out-of-context claims.
Shell has since refuted the charge by Global Witness, claiming its "energy transition" investments account for more than one third of Shell’s total.
The largest oil and gas firm in Europe this week posted its largest profits in its 115 years of almost $40bn (€36.6bn) for 2022, far above the previous $28.4bn posted in 2008.
The Hamburg University researchers said that if the 1.5C limit did prove to be implausible, then contingency plans need to be taken now to prepare.
"If we fail to meet the climate goals, adapting to the impacts will become all the more important. In order to be equipped for a warmer world, we have to anticipate changes, get the affected parties on board, and take advantage of local knowledge. Instead of just reacting, we need to begin an active transformation here and now," Prof Engels said
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