As temperature change is set to reach 1.5C business cannot wait to change. It’s now net-zero or we’re in deep trouble.

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Some people will have noticed the furious opposition that sustainable cost accounting gets on this site any time that I mention it. As a recent opponent made clear, his real objection was that business becoming net-zero carbon will require changes to consumption patterns, and he did not like that idea. Everything else he said had to be read in that context.

So let me add another context. It is this, from the FT, this morning:

The chance of global warming temporarily reaching the 1.5C mark in the next five years has risen to more than 40 per cent after new monitoring data from the Arctic, according to the World Meteorological Organization.

As they also note, this may be an under-estimate. Temperatures could rise by as much as 1.8C.

And that is why I think sustainable cost accounting matters. And that it matters now. And that pussy-footing around business becoming net-zero carbon is not something we can afford.