It was only two years ago that the country’s Climate Commission released its first major report, The Critical Decade. And although we are only a quarter of the way through the decade, the Commission says that its original forecasts are now a reality and the scientific consensus is even stronger. The need for action is even greater.
That means that we cannot carry on investing in fossil fuels, regardless of whether it is Australian coal, Canadian tar sands or American shale gas. “We have to leave most of the fossil fuels in the ground and of course that has obvious implications for investment decisions this decade,” concluded Professor Steffen.