Climate Change 2022: Impacts, Adaptation and Vulnerability

Today the UN Intergovernmental Panel on Climate Changre (IPCC ) announced its latest report in its series of Sixth Assessment Reports (extending from last August to October).?The report “Climate Change 2022: Impacts, Adaptation and Vulnerability” highlights the breadth & depth of climate change impact, whereas last August’s report focused on the impact deriving from different temperature scenarios.?The banner message is that the adverse impact on climate is far more widespread and severe across the world than previously documented (especially for developing regions) and is very granular around the vulnerability to climate impacts.??It states clearly: Climate change is caused by humans.

It is an important report, continuing the rhetoric of urgency from August’s “Code Red for Humanity” report and November’s COP26 conference.?It estimates with high confidence that ~3.3-3.6 billion people live in contexts that are highly vulnerable to climate change, and the level of the global population exposed to deadly heat stress is likely to rise from 33% to 50-75% by the end of the century.??Global warming is currently at 1.1C degrees and it outlines the key risks to areas like agriculture even if we succeed in constraining warming below 1.6C degrees by the end of the century.??The opportunity to act remains, but

“there is a rapidly narrowing window of opportunity”

The report notes that there are feasible and effective adaptation solutions available to reduce the risks to people and nature.?These solutions differ across sectors and regions and include topics like ecosystem transition, urban, rural and infrastructure transition (critical for resilience and ensuring human wellbeing) and energy system transition.?It also encourages cross-sector collaboration on adaptation.

So what happens next?

The IPCC are encouraging governments to carefully consider the long-term impacts of short-term strategies, whereby the prioritisation of very near-term goals may reduce the opportunity for transformational adaptation in the long term.?Yet higher investment from both public and private sectors are needed to narrow the adaptation gap, with urgent support needed for developing regions and vulnerable communities.?AllianzGI's Global Head of Sustainable & Impact Investing, Matt Christensen , has spoken previously about the need for broader education on climate adaptation so all stakeholders fully understand the depth and breadth of the factors related to climate change.

Watch the 'Sustainable Minute COP26'

The next IPCC report will focus on ways to lower emissions before a detailed summary report is published in October, ahead of COP27 in November.

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