“As part of the Paris Agreement, 197 countries agreed that the global temperature could rise by a maximum of 2°C, with 1.5°C as a stretch target, to avoid irreversible damage to the Earth’s ecosystem and the subsequent economic risks.

However, the average temperature rise caused by companies worldwide is about 3°C, according to a study published last year, with only 6% of firms below 2°C and 4% below 1.5°C.

The research was based on 2,686 companies part of the I Care and Arvella’s climate alignment database, Climate SBAM, which included stocks part of MSCI’s flagship global equity index.”

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