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Rising mercury may evaporate $6-trn value base off S&P-500
A temperature increase of 2 degrees Celsius could cut $6 trillion from the value of the S&P-500 index, in addition to the devastating environmental and social consequences, a report warned on Monday.
New York : A temperature increase of 2 degrees Celsius could cut $6 trillion from the value of the S&P-500 index, in addition to the devastating environmental and social consequences, a report warned on Monday. Slowing momentum on sustainability could come with a tangible cost, according to new research from Bain & Company, that pointed to a sharp decline in CEOs’ relative prioritisation of sustainability, as AI, growth, inflation, and geopolitical uncertainty have risen to the top of their agenda. “The transition to a sustainable world is following a familiar cycle. As the challenge of meeting bold commitments becomes clear, many companies are rethinking what is achievable and on what timeline. But slowing progress would be a mistake,” said Jean-Charles van den Branden, Bain’s global Sustainability practice leader.
Companies are struggling to meet their existing commitments. Of the firms disclosing their progress via carbon disclosure project (CDP), 30 per cent are well behind on their Scope-1 and Scope-2 emissions reduction goals, and almost half are behind on Scope-3.
