{"id":34643,"date":"2024-11-19T10:44:22","date_gmt":"2024-11-19T09:44:22","guid":{"rendered":"https:\/\/reclaimfinance.org\/site\/?page_id=34643"},"modified":"2024-11-21T17:41:40","modified_gmt":"2024-11-21T16:41:40","slug":"climate-scenarios-picking-a-safe-path-to-a-sustainable-future","status":"publish","type":"page","link":"https:\/\/reclaimfinance.org\/site\/en\/climate-scenarios-picking-a-safe-path-to-a-sustainable-future\/","title":{"rendered":"Climate Scenarios: Picking a Safe Path to a Sustainable Future"},"content":{"rendered":"<p><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-1 fusion-flex-container has-pattern-background has-mask-background fusion-parallax-none nonhundred-percent-fullwidth hundred-percent-height hundred-percent-height-center-content non-hundred-percent-height-scrolling\" style=\"--awb-background-blend-mode:overlay;--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:140px;--awb-padding-bottom:10px;--awb-margin-top:0px;--awb-margin-bottom:0px;--awb-background-color:rgba(51,54,71,0.69);--awb-background-image:url(&quot;https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2024\/11\/shutterstock_2064279029-1024x576.jpg&quot;);--awb-background-size:cover;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-align-content-space-around fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-0 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-padding-top:100px;--awb-padding-right:20px;--awb-padding-left:20px;--awb-padding-top-medium:0px;--awb-padding-right-medium:0px;--awb-padding-bottom-medium:0px;--awb-padding-left-medium:0px;--awb-padding-top-small:0px;--awb-padding-right-small:0px;--awb-padding-bottom-small:0px;--awb-padding-left-small:0px;--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:0%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0%;--awb-width-medium:100%;--awb-order-medium:0;--awb-margin-top-medium:0;--awb-spacing-right-medium:1.92%;--awb-margin-bottom-medium:0;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-margin-top-small:0;--awb-spacing-right-small:1.92%;--awb-margin-bottom-small:0;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-1 fusion-title-center fusion-title-text fusion-title-size-one\" style=\"--awb-font-size:60px;\"><div class=\"title-sep-container title-sep-container-left\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer\"><\/span><h1 class=\"fusion-title-heading title-heading-center fusion-responsive-typography-calculated\" style=\"margin:0;font-size:1em;letter-spacing:;text-transform:uppercase;--fontSize:60;line-height:1;\">Climate Scenarios: Picking a Safe Path to a Sustainable Future<\/h1><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"align-self: center;margin-left: auto;margin-right: auto;margin-top:15px;margin-bottom:15px;width:100%;\"><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-1 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-image-element \" style=\"text-align:center;--awb-max-width:100px;--awb-caption-title-font-family:var(--h2_typography-font-family);--awb-caption-title-font-weight:var(--h2_typography-font-weight);--awb-caption-title-font-style:var(--h2_typography-font-style);--awb-caption-title-size:var(--h2_typography-font-size);--awb-caption-title-transform:var(--h2_typography-text-transform);--awb-caption-title-line-height:var(--h2_typography-line-height);--awb-caption-title-letter-spacing:var(--h2_typography-letter-spacing);\"><span class=\" fusion-imageframe imageframe-none imageframe-1 hover-type-zoomin\"><img decoding=\"async\" width=\"300\" height=\"300\" title=\"scroll down button\" src=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/02\/scroll-down-button.png\" alt class=\"img-responsive wp-image-18477\" srcset=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/02\/scroll-down-button-200x200.png 200w, https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/02\/scroll-down-button.png 300w\" sizes=\"(max-width: 1024px) 100vw, (max-width: 640px) 100vw, 300px\" \/><\/span><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-2 nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:50px;--awb-padding-bottom:0px;--awb-margin-bottom:0px;--awb-background-color:#FFFFFF;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-2 fusion_builder_column_1_1 1_1 fusion-one-full fusion-column-first fusion-column-last\" style=\"--awb-bg-size:cover;--awb-margin-bottom:0px;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-column-wrapper-legacy\"><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-separator fusion-full-width-sep\" style=\"margin-left: auto;margin-right: auto;width:100%;\"><\/div><div class=\"fusion-sep-clear\"><\/div><div class=\"fusion-text fusion-text-1 fusion-text-no-margin\" style=\"--awb-content-alignment:justify;--awb-text-color:#333647;--awb-margin-bottom:30px;\"><p>\u201cClimate scenarios\u201d show pathways corresponding to various global warming outcomes. Like all Integrated Assessment Models (IAMs), they are mathematical computer models that bring together information and insights from different academic disciplines into a single framework to study complex issues. They integrate a wide range of hypotheses and possible circumstances and have their own modelling specificities, meaning that a potentially infinite number of climate scenarios can be produced.<\/p>\n<p>Climate scenarios are inherently limited tools based on hypotheses that may prove inaccurate and cannot precisely predict the effects of climate change. While they are not crystal balls, they could be useful depictions of possible futures that offer us a chance to avoid the worst of the climate crisis and guide us on a path to climate mitigation. That is, however, only when they are chosen carefully.<\/p>\n<\/div><div class=\"fusion-section-separator section-separator big-half-circle fusion-section-separator-1\" style=\"--awb-spacer-height:99px;--awb-svg-margin-left:0;--awb-svg-margin-right:0;--awb-divider-height:99px;--awb-spacer-padding-top:inherit;--awb-sep-padding:0;--awb-svg-padding:0;\"><div class=\"fusion-section-separator-svg\"><svg class=\"fusion-big-half-circle-candy\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.1\" width=\"100%\" height=\"100\" viewBox=\"0 0 100 100\" preserveAspectRatio=\"none\" fill=\"rgba(242,242,239,1)\"><path d=\"M0 100 C40 0 60 0 100 100 Z\"><\/path><\/svg><\/div><div class=\"fusion-section-separator-spacer\"><div class=\"fusion-section-separator-spacer-height\"><\/div><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-background-color:#f2f2ef;--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-3 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-padding-top:50px;--awb-padding-bottom:50px;--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-2 fusion-title-text fusion-title-size-two\" style=\"--awb-text-color:var(--awb-color7);--awb-margin-bottom:0px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h2 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;text-transform:uppercase;--fontSize:33;line-height:1.5;\">Aligning with climate goals: picking a scenario<\/h2><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-separator\" style=\"align-self: flex-start;margin-right:auto;margin-top:20px;margin-bottom:30px;width:100%;max-width:100px;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:var(--awb-color4);border-color:var(--awb-color4);border-top-width:10px;\"><\/div><\/div><div class=\"fusion-text fusion-text-2 fusion-text-no-margin\" style=\"--awb-content-alignment:justify;--awb-text-color:var(--awb-color7);\"><p>To select a scenario, one can start by looking at its issuer. Indeed, many bodies have produced climate scenarios now &#8211; from international organizations to companies and consultancies &#8211; and for some this can be a way to justify their own business strategies. For example, when a company <span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/www.carbonbrief.org\/analysis-shell-admits-1-5c-climate-goal-means-immediate-end-to-fossil-fuel-growth\/\" target=\"_blank\" rel=\"noopener\">like Shell<\/a><\/span> or TotalEnergies publishes scenarios which show that fossil fuel production can continue at its current pace before declining gradually, the company is defending its plans to build new production infrastructures by painting them as compatible with mitigation efforts. Here, a simple rule would be to avoid using scenarios produced by entities with an obvious conflict of interest, such as oil and gas companies, and to opt for scenarios from independent bodies with recognized expertise such as the International Energy Agency (IEA) or Intergovernmental Panel on Climate Change (IPCC).<\/p>\n<p>Nonetheless, such a basic rule is not enough to guarantee robust scenarios. In fact, even apparently independent and reputable providers can produce scenarios that rely on dangerous assumptions. Therefore, we need to use a two-step process:<\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-4 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-tabs fusion-tabs-1 clean nav-is-justified horizontal-tabs icon-position-left mobile-mode-accordion\" style=\"--awb-margin-bottom:0px;--awb-title-border-radius-top-left:0px;--awb-title-border-radius-top-right:0px;--awb-title-border-radius-bottom-right:0px;--awb-title-border-radius-bottom-left:0px;--awb-title-font-size:16px;--awb-alignment:start;--awb-inactive-color:rgba(193,193,193,0.22);--awb-title-text-color:var(--awb-color7);--awb-title-active-text-color:var(--awb-custom11);--awb-background-color:#333645;--awb-border-color:rgba(51,54,69,0);--awb-active-border-color:#59bc6d;\"><div class=\"nav\"><ul class=\"nav-tabs nav-justified\" role=\"tablist\"><li class=\"active\" role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-26f71669ee2f810b393\" aria-selected=\"true\" id=\"fusion-tab-low\/noovershoot\" href=\"#tab-26f71669ee2f810b393\"><h4 class=\"fusion-tab-heading\">Low \/ No overshoot<\/h4><\/a><\/li><li role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-f1b3a0c8a134785c4ef\" aria-selected=\"false\" tabindex=\"-1\" id=\"fusion-tab-limiteduseofnegativeemissions\" href=\"#tab-f1b3a0c8a134785c4ef\"><h4 class=\"fusion-tab-heading\">Limited use of negative emissions<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-content\"><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs nav-justified\" role=\"tablist\"><li class=\"active\" role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-26f71669ee2f810b393\" aria-selected=\"true\" id=\"mobile-fusion-tab-low\/noovershoot\" href=\"#tab-26f71669ee2f810b393\"><h4 class=\"fusion-tab-heading\">Low \/ No overshoot<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix in active\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-low\/noovershoot\" id=\"tab-26f71669ee2f810b393\">\n<h3 style=\"font-size: 16px; color: #333647; width: 50%; text-align: center; margin: auto; margin-bottom: 30px;\">We must ensure that the scenario has at least a 50% chance of limiting global warming to 1.5\u00b0C with \u201cno\/low overshot\u201d by:<\/h3>\n<div class=\"fusion-post-cards fusion-post-cards-1 fusion-grid-archive fusion-grid-columns-1\" style=\"--awb-column-spacing:0px;--awb-dots-align:center;--awb-columns:1;--awb-active-filter-border-size:3px;--awb-filters-height:36px;\"><ul class=\"fusion-grid fusion-grid-1 fusion-flex-align-items-flex-start fusion-grid-posts-cards\"><li class=\"fusion-layout-column fusion_builder_column fusion-builder-column-5 fusion-flex-column post-card fusion-grid-column fusion-post-cards-grid-column\" style=\"--awb-bg-blend:overlay;--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-content-tb fusion-content-tb-1\" style=\"--awb-text-color:#e5e3e3;--awb-text-transform:none;\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3-1 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-background-color:rgba(51,54,69,0);--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"width:104% !important;max-width:104% !important;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-6 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-flip-boxes flip-boxes row fusion-columns-3 flip-effect-classic equal-heights\" style=\"--awb-flip-duration:1.0s;\"><div class=\"fusion-flip-box-wrapper fusion-column col-lg-4 col-md-4 col-sm-4\"><div class=\"fusion-flip-box flip-right\" tabindex=\"0\"><div class=\"flip-box-inner-wrapper\"><div class=\"flip-box-front\" style=\"--awb-border-radius:30px;\"><div class=\"flip-box-front-inner\"><h4 class=\"flip-box-heading\" style=\"--h4_typography-font-size:20px;--h4_typography-text-transform:uppercase;\">Aiming for a 1.5\u00b0C outcome<\/h4> <\/div><\/div><div class=\"flip-box-back\" style=\"--awb-border-radius:30px;--awb-background-color-back:#e5e3e3;--awb-text-back-color:var(--awb-color7);\"><div class=\"flip-box-back-inner\"><h3 class=\"flip-box-heading-back\"> <\/h3>\n<p style=\"text-align: justify;\">The Paris Agreement established the international goal of limiting global warming to \u201cwell-below 2\u00b0C\u201d and to strive to keep it under 1.5\u00b0C. After the Agreement, the IPCC\u2019s research showed the already major consequences of 1.5\u00b0C of warming and dire increases when global temperatures rise by 2\u00b0C. As a result, the 1.5\u00b0C goal became the international reference, taken up by the UN, many countries, and by the many financial institutions and coalitions that committed through GFANZ to reach net zero by 2050.<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-flip-box-wrapper fusion-column col-lg-4 col-md-4 col-sm-4\"><div class=\"fusion-flip-box flip-right\" tabindex=\"0\"><div class=\"flip-box-inner-wrapper\"><div class=\"flip-box-front\" style=\"--awb-border-radius:30px;\"><div class=\"flip-box-front-inner\"><h4 class=\"flip-box-heading\" style=\"--h4_typography-font-size:20px;--h4_typography-text-transform:uppercase;\">Having at least a 50% chance of keeping global warming under 1.5\u00b0C<\/h4> <\/div><\/div><div class=\"flip-box-back\" style=\"--awb-border-radius:30px;--awb-background-color-back:#e5e3e3;--awb-text-back-color:var(--awb-color7);\"><div class=\"flip-box-back-inner\"><h3 class=\"flip-box-heading-back\"> <\/h3>\n<p style=\"text-align: justify;\">As the IPCC makes clear, climate scenarios are all tied to a specific likelihood of achieving a temperature outcome. The 1.5\u00b0C scenarios put forward by the IPCC have at least a 50% chance of achieving this outcome. Some scenarios with a higher probability are available and should be more widely referred to, given their potential benefits and contribution to a precautionary approach to climate mitigation.<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-flip-box-wrapper fusion-column col-lg-4 col-md-4 col-sm-4\"><div class=\"fusion-flip-box flip-right\" tabindex=\"0\"><div class=\"flip-box-inner-wrapper\"><div class=\"flip-box-front\" style=\"--awb-border-radius:30px;\"><div class=\"flip-box-front-inner\"><h4 class=\"flip-box-heading\" style=\"--h4_typography-font-size:20px;--h4_typography-text-transform:uppercase;\">Avoiding a significant temperature overshoot<\/h4> <\/div><\/div><div class=\"flip-box-back\" style=\"--awb-border-radius:30px;--awb-background-color-back:#e5e3e3;--awb-text-back-color:var(--awb-color7);\"><div class=\"flip-box-back-inner\"><h3 class=\"flip-box-heading-back\"> <\/h3>\n<p style=\"text-align: justify;\">When global average temperatures rise above 1.5\u00b0C before coming back below, the scenario has a \u201ctemperature overshoot\u201d. The problem is that such an overshoot can have dramatic consequences by pushing the world <span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/www.science.org\/doi\/10.1126\/science.abn7950\" target=\"_blank\" rel=\"noopener\">beyond tipping points<\/a><\/span>, where nature degradation and\/or warming acceleration cannot be reversed. Using climate scenarios with no or low overshoot is therefore essential. The IEA Net Zero Emissions scenario (NZE), several NGFS Net Zero scenarios, as well as the IPCC\u2019s 97 \u201cC1\u201d scenarios are 1.5\u00b0C with no\/low overshoot.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><div class=\"clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/li>\n<\/ul><\/div><\/div><div class=\"nav fusion-mobile-tab-nav\"><ul class=\"nav-tabs nav-justified\" role=\"tablist\"><li role=\"presentation\"><a class=\"tab-link\" data-toggle=\"tab\" role=\"tab\" aria-controls=\"tab-f1b3a0c8a134785c4ef\" aria-selected=\"false\" tabindex=\"-1\" id=\"mobile-fusion-tab-limiteduseofnegativeemissions\" href=\"#tab-f1b3a0c8a134785c4ef\"><h4 class=\"fusion-tab-heading\">Limited use of negative emissions<\/h4><\/a><\/li><\/ul><\/div><div class=\"tab-pane fade fusion-clearfix\" role=\"tabpanel\" tabindex=\"0\" aria-labelledby=\"fusion-tab-limiteduseofnegativeemissions\" id=\"tab-f1b3a0c8a134785c4ef\">\n<h3 style=\"font-size: 16px; color: #333647; width: 50%; text-align: center; margin: auto; margin-bottom: 30px;\">We must check that the scenario makes only limited use of negative emissions by:<\/h3>\n<div class=\"fusion-post-cards fusion-post-cards-2 fusion-grid-archive fusion-grid-columns-1\" style=\"--awb-column-spacing:0px;--awb-dots-align:center;--awb-columns:1;--awb-active-filter-border-size:3px;--awb-filters-height:36px;\"><ul class=\"fusion-grid fusion-grid-1 fusion-flex-align-items-flex-start fusion-grid-posts-cards\"><li class=\"fusion-layout-column fusion_builder_column fusion-builder-column-7 fusion-flex-column post-card fusion-grid-column fusion-post-cards-grid-column\" style=\"--awb-bg-blend:overlay;--awb-bg-size:cover;\"><div class=\"fusion-column-wrapper fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-content-tb fusion-content-tb-2\" style=\"--awb-text-color:#e5e3e3;--awb-text-transform:none;\"><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-3-2 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-background-color:rgba(51,54,69,0);--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"width:104% !important;max-width:104% !important;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-8 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-flip-boxes flip-boxes row fusion-columns-2 flip-effect-classic equal-heights\" style=\"--awb-flip-duration:1.0s;\"><div class=\"fusion-flip-box-wrapper fusion-column col-lg-6 col-md-6 col-sm-6\"><div class=\"fusion-flip-box flip-right\" tabindex=\"0\"><div class=\"flip-box-inner-wrapper\"><div class=\"flip-box-front\" style=\"--awb-border-radius:30px;\"><div class=\"flip-box-front-inner\"><h4 class=\"flip-box-heading\" style=\"--h4_typography-font-size:20px;--h4_typography-text-transform:uppercase;\">Understanding the dangers of betting on negative emissions<\/h4> <\/div><\/div><div class=\"flip-box-back\" style=\"--awb-border-radius:30px;--awb-background-color-back:#e5e3e3;--awb-text-back-color:var(--awb-color7);\"><div class=\"flip-box-back-inner\"><h3 class=\"flip-box-heading-back\"> <\/h3>\n<p style=\"text-align: justify;\">All climate scenarios rely on negative emissions to some extent as some of the Earth\u2019s natural processes trap emissions. However, there are massive differences in the extent to which scenarios rely on the deployment of negative emission technologies \u2013 such as carbon capture and storage \u2013 and the potential for natural capture \u2013 including through land-use change and reforestation. The more a scenario makes room for negative emissions, the slower it requires emissions to be reduced, so increasing the reliance on negative emissions is an easy way to retain heavy emitting industries for as long as possible. Yet, there are major difficulties with large-scale deployment of negative emission technologies and so-called \u201cnature-based solutions\u201d. Unrealized captured volumes could easily push the planet past 1.5\u00b0C. Therefore, climate scenarios should only rely on a limited volume of negative emissions.<\/p>\n<\/div><\/div><\/div><\/div><\/div><div class=\"fusion-flip-box-wrapper fusion-column col-lg-6 col-md-6 col-sm-6\"><div class=\"fusion-flip-box flip-right\" tabindex=\"0\"><div class=\"flip-box-inner-wrapper\"><div class=\"flip-box-front\" style=\"--awb-border-radius:30px;\"><div class=\"flip-box-front-inner\"><h4 class=\"flip-box-heading\" style=\"--h4_typography-font-size:20px;--h4_typography-text-transform:uppercase;\">Filtering for limited volumes of negative emissions<\/h4> <\/div><\/div><div class=\"flip-box-back\" style=\"--awb-border-radius:30px;--awb-background-color-back:#e5e3e3;--awb-text-back-color:var(--awb-color7);\"><div class=\"flip-box-back-inner\"><h3 class=\"flip-box-heading-back\"> <\/h3>\n<p style=\"text-align: justify;\">When identifying scenarios with <a style=\"color: #333647;\" href=\"https:\/\/www.iisd.org\/system\/files\/2022-06\/ipcc-pathways-paris-aligned-policies.pdf\" target=\"_blank\" rel=\"noopener\">limited volumes of negative emissions<\/a>, one should start by excluding those which use of biomass energy with carbon capture and storage (BECCS) and\/or fossil fuels with carbon capture and storage (CCS) is categorized by the IPCC as raising medium to high feasibility concerns. Such concerns appear when removal levels exceed respectively 3 Gt CO2\/year for BECCS and 3.8 Gt CO2\/ year for fossil CCS by 2050. Scenarios should also be screened to exclude those including forest carbon dioxide removal (CDR) above the IPCC\u2019s estimate of maximum sustainable potential of 3.6 Gt CO2\/year by 2050. The IEA NZE scenario passes these checks, as well as 26 of the IPCC scenarios.<\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><div class=\"clearfix\"><\/div><\/div><\/div><\/div><\/div>\n<\/div><\/div><\/li>\n<\/ul><\/div>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-4 fusion-flex-container has-pattern-background has-mask-background nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-background-color:var(--awb-color1);--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-9 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-section-separator section-separator big-half-circle fusion-section-separator-2\" style=\"--awb-spacer-height:99px;--awb-svg-margin-left:1.92%;--awb-svg-margin-right:1.92%;--awb-svg-margin-left-medium:1.92%;--awb-svg-margin-right-medium:1.92%;--awb-svg-margin-left-small:1.92%;--awb-svg-margin-right-small:1.92%;--awb-divider-height:99px;--awb-spacer-padding-top:inherit;--awb-sep-padding:0;--awb-svg-padding:0;\"><div class=\"fusion-section-separator-svg\"><svg class=\"fusion-big-half-circle-candy\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.1\" width=\"100%\" height=\"100\" viewBox=\"0 0 100 100\" preserveAspectRatio=\"none\" fill=\"rgba(242,242,239,1)\"><path d=\"M0 0 C55 180 100 0 100 0 Z\"><\/path><\/svg><\/div><div class=\"fusion-section-separator-spacer\"><div class=\"fusion-section-separator-spacer-height\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-5 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:50px;--awb-padding-bottom:50px;--awb-background-color:var(--awb-color1);--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-justify-content-space-between fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-10 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-3 fusion-title-text fusion-title-size-two\" style=\"--awb-text-color:var(--awb-color7);--awb-margin-bottom:0px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-medium-visibility fusion-no-small-visibility\"><\/span><h2 class=\"fusion-title-heading title-heading-left fusion-responsive-typography-calculated\" style=\"margin:0;text-transform:uppercase;--fontSize:33;line-height:1.5;\">1.5\u00b0C Climate scenarios\u2019 golden rules for financial institutions<\/h2><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-separator\" style=\"align-self: flex-start;margin-right:auto;margin-top:20px;margin-bottom:30px;width:100%;max-width:100px;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:var(--awb-color4);border-color:var(--awb-color4);border-top-width:10px;\"><\/div><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-11 fusion_builder_column_1_3 1_3 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:33.333333333333%;--awb-margin-top-large:0px;--awb-spacing-right-large:5.76%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:5.76%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-text fusion-text-3 fusion-text-no-margin\" style=\"--awb-content-alignment:justify;--awb-text-color:var(--awb-color7);\"><p>Despite integrating different hypotheses and being based on different models, robust climate scenarios \u2013 1.5\u00b0C no\/low overshoot with a limited volume of negative emissions \u2013 have common dynamics and characteristics which show what must be done to mitigate climate change.<\/p>\n<p>For financial institutions, understanding these dynamics is the first step in acting on climate, but also on managing the related risks. It enables them to extract golden rules to apply to their financial services, notably: <\/p>\n<\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-12 fusion_builder_column_3_5 3_5 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:60%;--awb-margin-top-large:0px;--awb-spacing-right-large:3.2%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:3.2%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"accordian fusion-accordian\" style=\"--awb-border-size:1px;--awb-icon-size:13px;--awb-content-font-size:16px;--awb-icon-alignment:left;--awb-hover-color:#f9f9f9;--awb-border-color:#cccccc;--awb-background-color:#ffffff;--awb-divider-color:#c1c1c1;--awb-divider-hover-color:#c1c1c1;--awb-icon-color:#ffffff;--awb-title-color:var(--awb-color7);--awb-content-color:var(--awb-color7);--awb-icon-box-color:rgba(250,203,17,0.37);--awb-toggle-hover-accent-color:#facb11;--awb-toggle-active-accent-color:#facb11;--awb-title-font-family:&quot;Montserrat&quot;;--awb-title-font-weight:700;--awb-title-font-style:normal;--awb-title-font-size:16px;--awb-content-font-family:&quot;Montserrat&quot;;--awb-content-font-style:normal;--awb-content-font-weight:400;\"><div class=\"panel-group fusion-toggle-icon-boxed\" id=\"accordion-34643-1\"><div class=\"fusion-panel panel-default panel-ae2b8a70d94558940 fusion-toggle-has-divider\" style=\"--awb-title-color:var(--awb-color7);\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_ae2b8a70d94558940\"><a class=\"active\" aria-expanded=\"true\" aria-controls=\"ae2b8a70d94558940\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34643-1\" data-target=\"#ae2b8a70d94558940\" href=\"#ae2b8a70d94558940\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-plus fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">An immediate end to any support for fossil fuel development: <\/span><\/a><\/h4><\/div><div id=\"ae2b8a70d94558940\" class=\"panel-collapse collapse in\" aria-labelledby=\"toggle_ae2b8a70d94558940\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<p style=\"text-align: justify;\"><span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/www.iisd.org\/system\/files\/2022-10\/navigating-energy-transitions-mapping-road-to-1.5.pdf\" target=\"_blank\" rel=\"noopener\">A large consensus<\/a><\/span> across multiple modelled 1.5\u00b0C climate scenarios show that developing any new coal mines or plants or oil and gas fields would be incompatible with limiting warming to 1.5\u00b0C. Furthermore, global oil and gas production and consumption must decrease swiftly and by at least 65% by 2050, requiring an urgent review of production plans as identified <span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/productiongap.org\/\" target=\"_blank\" rel=\"noopener\">in the UN Production Gap Report<\/a><\/span>. The <span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2022\/11\/Note-WEO-2022-RF.pdf\" target=\"_blank\" rel=\"noopener\">conclusions of the IEA NZE<\/a><\/span> &#8211; and other realistic 1.5\u00b0C scenarios \u2013 also underline the need to limit the development of other fossil fuel infrastructure, especially LNG terminals.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-61e45423c33b46df3 fusion-toggle-has-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_61e45423c33b46df3\"><a aria-expanded=\"false\" aria-controls=\"61e45423c33b46df3\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34643-1\" data-target=\"#61e45423c33b46df3\" href=\"#61e45423c33b46df3\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-plus fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Aim for a decarbonized power sector by 2035 in the EU\/OECD and 2040 worldwide, including through the phase out of coal and a shift to wind and solar power generation:<\/span><\/a><\/h4><\/div><div id=\"61e45423c33b46df3\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_61e45423c33b46df3\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<p style=\"text-align: justify;\">1.5\u00b0C scenarios see a complete transformation of the power sector, often well-ahead of other sectors. Power production is <span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/www.iisd.org\/system\/files\/2022-10\/navigating-energy-transitions-mapping-road-to-1.5.pdf\" target=\"_blank\" rel=\"noopener\">boosted by solar and wind deployment<\/a><\/span> and paired with a modernization of the energy grid, while coal is nearly phased out by 2030 in the OECD\/EU and 2040 worldwide. This transformation is enabled by a reallocation of investment, from fossil fuels to sustainable energy, and an increase in global energy investment. Several related levers should be activated by financial institutions, including setting<span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/coalpolicytool.org\/\" target=\"_blank\" rel=\"noopener\"> a Paris-aligned coal phaseout policy<\/a><\/span>, requiring robust transition plans from utilities \u2013 notably to exit fossil fuel-based power generation &#8211; and a targe<span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/reclaimfinance.org\/site\/en\/2024\/02\/06\/61-a-ratio-to-successfully-transform-our-energy-system\/\" target=\"_blank\" rel=\"noopener\">t to invest at least 6 times more<\/a><\/span> in sustainable energy than in fossil fuels by 2030.<\/p>\n<\/div><\/div><\/div><div class=\"fusion-panel panel-default panel-03931f4f9d58d2163 fusion-toggle-has-divider\"><div class=\"panel-heading\"><h4 class=\"panel-title toggle\" id=\"toggle_03931f4f9d58d2163\"><a aria-expanded=\"false\" aria-controls=\"03931f4f9d58d2163\" role=\"button\" data-toggle=\"collapse\" data-parent=\"#accordion-34643-1\" data-target=\"#03931f4f9d58d2163\" href=\"#03931f4f9d58d2163\"><span class=\"fusion-toggle-icon-wrapper\" aria-hidden=\"true\"><i class=\"fa-fusion-box active-icon awb-icon-minus\" aria-hidden=\"true\"><\/i><i class=\"fa-fusion-box inactive-icon fa-plus fas\" aria-hidden=\"true\"><\/i><\/span><span class=\"fusion-toggle-heading\">Requiring robust decarbonization targets and transition plans: <\/span><\/a><\/h4><\/div><div id=\"03931f4f9d58d2163\" class=\"panel-collapse collapse \" aria-labelledby=\"toggle_03931f4f9d58d2163\"><div class=\"panel-body toggle-content fusion-clearfix\">\n<p style=\"text-align: justify;\">Beyond the energy sector, climate scenarios reveal the need to drastically cut emissions in all sectors of the economy. Financial institutions and the companies they support should adopt decarbonization goals that are coherent with a 50% reduction by 2030 and net zero by 2050 at the latest. To reach these targets and achieve decarbonization of the real economy, they should adopt and require climate transition plans aligned with <span style=\"text-decoration: underline;\"><a style=\"color: #333647;\" href=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2024\/01\/Report-Climate-Transition-Plan-Reclaim-Finance-January-2024.pdf\" target=\"_blank\" rel=\"noopener\">Reclaim Finance\u2019s recommendations.<\/a><\/span><\/p>\n<\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-fullwidth fullwidth-box fusion-builder-row-6 fusion-flex-container nonhundred-percent-fullwidth non-hundred-percent-height-scrolling\" style=\"--awb-border-radius-top-left:0px;--awb-border-radius-top-right:0px;--awb-border-radius-bottom-right:0px;--awb-border-radius-bottom-left:0px;--awb-padding-top:50px;--awb-padding-right:20px;--awb-padding-bottom:0px;--awb-padding-left:20px;--awb-margin-bottom:0px;--awb-background-color:var(--awb-color7);--awb-flex-wrap:wrap;\" ><div class=\"fusion-builder-row fusion-row fusion-flex-align-items-flex-start fusion-flex-content-wrap\" style=\"max-width:1216.8px;margin-left: calc(-4% \/ 2 );margin-right: calc(-4% \/ 2 );\"><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-13 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-title title fusion-title-4 fusion-title-text fusion-title-size-two\" style=\"--awb-text-color:var(--awb-color1);--awb-margin-bottom:0px;\"><div class=\"title-sep-container title-sep-container-left fusion-no-large-visibility fusion-no-small-visibility\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><span class=\"awb-title-spacer fusion-no-large-visibility fusion-no-small-visibility\"><\/span><h2 class=\"fusion-title-heading title-heading-left md-text-align-center fusion-responsive-typography-calculated\" style=\"margin:0;text-transform:uppercase;--fontSize:33;line-height:1.3;\">Our last publications<\/h2><span class=\"awb-title-spacer\"><\/span><div class=\"title-sep-container title-sep-container-right\"><div class=\"title-sep sep- sep-solid\" style=\"border-color:#3e3e3e;\"><\/div><\/div><\/div><div class=\"fusion-separator\" style=\"align-self: flex-start;margin-right:auto;margin-top:20px;margin-bottom:30px;width:100%;max-width:100px;\"><div class=\"fusion-separator-border sep-single sep-solid\" style=\"--awb-height:20px;--awb-amount:20px;--awb-sep-color:var(--awb-color4);border-color:var(--awb-color4);border-top-width:10px;\"><\/div><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-14 fusion_builder_column_1_1 1_1 fusion-flex-column\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:0px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:20px;--awb-spacing-left-large:1.92%;--awb-width-medium:100%;--awb-order-medium:0;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-order-small:0;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-blog-shortcode fusion-blog-shortcode-1 fusion-blog-archive fusion-blog-layout-grid-wrapper fusion-blog-no\"><style type=\"text\/css\">.fusion-blog-shortcode-1 .fusion-blog-layout-grid .fusion-post-grid{padding:15px;}.fusion-blog-shortcode-1 .fusion-posts-container{margin-left: -15px !important; margin-right:-15px !important;}<\/style><div class=\"fusion-posts-container fusion-posts-container-no fusion-no-meta-info fusion-blog-rollover fusion-blog-layout-grid fusion-blog-layout-grid-3 isotope fusion-blog-equal-heights\" data-pages=\"271\" data-grid-col-space=\"30\" style=\"margin: -15px -15px 0;min-height:500px;\"><article id=\"blog-1-post-39525\" class=\"fusion-post-grid post-39525 post type-post status-publish format-standard has-post-thumbnail hentry category-blog_en acteurs_financiers-regulators thematique-fossil-fuels\">\n<div class=\"fusion-post-wrapper\" style=\"background-color:var(--awb-color7);border:1px solid #2a2b3d;border-bottom-width:3px;\">\n\n\t\t\t<div class=\"fusion-flexslider flexslider fusion-flexslider-loading fusion-post-slideshow\" style=\"border-color:#2a2b3d;\">\n\t\t<ul class=\"slides\">\n\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li><div  class=\"fusion-image-wrapper\" aria-haspopup=\"true\">\n\t\t\t\t<img decoding=\"async\" width=\"1125\" height=\"500\" src=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2026\/04\/fossil-fuel-.png\" class=\"attachment-full size-full wp-post-image\" alt=\"\" \/><div class=\"fusion-rollover\">\n\t<div class=\"fusion-rollover-content\">\n\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t<a class=\"fusion-link-wrapper\" href=\"https:\/\/reclaimfinance.org\/site\/en\/2026\/04\/13\/regulators-must-prevent-private-finance-from-stalling-the-fossil-fuel-phaseout\/\" aria-label=\"Regulators must prevent private finance from stalling the fossil fuel phaseout\"><\/a>\n\t<\/div>\n<\/div>\n<\/div>\n<\/li>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t<\/ul>\n\t<\/div>\n\t<div class=\"fusion-post-content-wrapper\" style=\"padding:30px 25px 20px 25px;\"><div class=\"fusion-post-content post-content\"><h2 class=\"blog-shortcode-post-title entry-title\"><a href=\"https:\/\/reclaimfinance.org\/site\/en\/2026\/04\/13\/regulators-must-prevent-private-finance-from-stalling-the-fossil-fuel-phaseout\/\">Regulators must prevent private finance from stalling the fossil fuel phaseout<\/a><\/h2><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div>\n<\/article>\n<article id=\"blog-1-post-39508\" class=\"fusion-post-grid post-39508 post type-post status-publish format-standard has-post-thumbnail hentry category-press-release acteurs_financiers-banks thematique-fossil-fuels thematique-gas-en\">\n<div class=\"fusion-post-wrapper\" style=\"background-color:var(--awb-color7);border:1px solid #2a2b3d;border-bottom-width:3px;\">\n\n\t\t\t<div class=\"fusion-flexslider flexslider fusion-flexslider-loading fusion-post-slideshow\" style=\"border-color:#2a2b3d;\">\n\t\t<ul class=\"slides\">\n\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li><div  class=\"fusion-image-wrapper\" aria-haspopup=\"true\">\n\t\t\t\t<img decoding=\"async\" width=\"1125\" height=\"500\" src=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2026\/04\/gas-power-plant.png\" class=\"attachment-full size-full wp-post-image\" alt=\"\" \/><div class=\"fusion-rollover\">\n\t<div class=\"fusion-rollover-content\">\n\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t<a class=\"fusion-link-wrapper\" href=\"https:\/\/reclaimfinance.org\/site\/en\/2026\/04\/08\/banks-back-gas-power-expansion-despite-high-costs\/\" aria-label=\"Banks back gas power expansion despite high costs\"><\/a>\n\t<\/div>\n<\/div>\n<\/div>\n<\/li>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t<\/ul>\n\t<\/div>\n\t<div class=\"fusion-post-content-wrapper\" style=\"padding:30px 25px 20px 25px;\"><div class=\"fusion-post-content post-content\"><h2 class=\"blog-shortcode-post-title entry-title\"><a href=\"https:\/\/reclaimfinance.org\/site\/en\/2026\/04\/08\/banks-back-gas-power-expansion-despite-high-costs\/\">Banks back gas power expansion despite high costs<\/a><\/h2><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div>\n<\/article>\n<article id=\"blog-1-post-39405\" class=\"fusion-post-grid post-39405 post type-post status-publish format-standard has-post-thumbnail hentry category-blog_en acteurs_financiers-banks thematique-oil-and-gas-en\">\n<div class=\"fusion-post-wrapper\" style=\"background-color:var(--awb-color7);border:1px solid #2a2b3d;border-bottom-width:3px;\">\n\n\t\t\t<div class=\"fusion-flexslider flexslider fusion-flexslider-loading fusion-post-slideshow\" style=\"border-color:#2a2b3d;\">\n\t\t<ul class=\"slides\">\n\t\t\t\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<li><div  class=\"fusion-image-wrapper\" aria-haspopup=\"true\">\n\t\t\t\t<img decoding=\"async\" width=\"1125\" height=\"500\" src=\"https:\/\/reclaimfinance.org\/site\/wp-content\/uploads\/2026\/03\/european-banks-.png\" class=\"attachment-full size-full wp-post-image\" alt=\"european banks\" \/><div class=\"fusion-rollover\">\n\t<div class=\"fusion-rollover-content\">\n\n\t\t\t\t\n\t\t\n\t\t\t\t\t\t\t\t\n\t\t\t\t\t\t\t\t\n\t\t\n\t\t\t\t\t\t<a class=\"fusion-link-wrapper\" href=\"https:\/\/reclaimfinance.org\/site\/en\/2026\/03\/27\/european-banks-bonding-with-oil-and-gas-expansion-an-analysis-of-2025-and-beyond\/\" aria-label=\"European banks bonding with oil and gas expansion: an analysis of 2025 and beyond\"><\/a>\n\t<\/div>\n<\/div>\n<\/div>\n<\/li>\n\t\t\t\n\t\t\t\n\t\t\t\t\t\t\t\t<\/ul>\n\t<\/div>\n\t<div class=\"fusion-post-content-wrapper\" style=\"padding:30px 25px 20px 25px;\"><div class=\"fusion-post-content post-content\"><h2 class=\"blog-shortcode-post-title entry-title\"><a href=\"https:\/\/reclaimfinance.org\/site\/en\/2026\/03\/27\/european-banks-bonding-with-oil-and-gas-expansion-an-analysis-of-2025-and-beyond\/\">European banks bonding with oil and gas expansion: an analysis of 2025 and beyond<\/a><\/h2><\/div><\/div><div class=\"fusion-clearfix\"><\/div><\/div>\n<\/article>\n<div class=\"fusion-clearfix\"><\/div><\/div><\/div><\/div><\/div><div class=\"fusion-layout-column fusion_builder_column fusion-builder-column-15 fusion_builder_column_1_1 1_1 fusion-flex-column fusion-flex-align-self-flex-start fusion-column-no-min-height fusion-no-small-visibility\" style=\"--awb-bg-size:cover;--awb-width-large:100%;--awb-margin-top-large:50px;--awb-spacing-right-large:1.92%;--awb-margin-bottom-large:0px;--awb-spacing-left-large:0px;--awb-width-medium:100%;--awb-spacing-right-medium:1.92%;--awb-spacing-left-medium:1.92%;--awb-width-small:100%;--awb-spacing-right-small:1.92%;--awb-spacing-left-small:1.92%;\"><div class=\"fusion-column-wrapper fusion-column-has-shadow fusion-flex-justify-content-flex-start fusion-content-layout-column\"><div class=\"fusion-section-separator section-separator big-half-circle fusion-section-separator-3\" style=\"--awb-spacer-height:99px;--awb-svg-margin-right:1.92%;--awb-svg-margin-left-medium:1.92%;--awb-svg-margin-right-medium:1.92%;--awb-svg-margin-left-small:1.92%;--awb-svg-margin-right-small:1.92%;--awb-divider-height:99px;--awb-spacer-padding-top:inherit;--awb-sep-padding:0;--awb-svg-padding:0;--awb-margin-bottom:-1px;\"><div class=\"fusion-section-separator-svg\"><svg class=\"fusion-big-half-circle-candy\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" version=\"1.1\" width=\"100%\" height=\"100\" viewBox=\"0 0 100 100\" preserveAspectRatio=\"none\" fill=\"rgba(80,172,120,1)\"><path d=\"M0 100 C40 0 60 0 100 100 Z\"><\/path><\/svg><\/div><div class=\"fusion-section-separator-spacer\"><div class=\"fusion-section-separator-spacer-height\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":26,"featured_media":34932,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"100-width.php","meta":{"footnotes":""},"programme":[],"class_list":["post-34643","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Climate Scenarios: Picking a Safe Path to a Sustainable Future - Reclaim Finance<\/title>\n<meta name=\"description\" content=\"Climate scenarios could be useful depictions of possible futures that offer us a chance to avoid the worst of the climate crisis and guide us on a path to climate mitigation.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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