The Global Carbon Incentive Fund as a Response to the Climate Crisis

Six years since the Paris Climate Agreement was adopted at the Conference of Parties (COP) 21, its goal of keeping the rise in global temperature well below 2 degrees C has become unattainable. According to the World Meteorological Organization (WMO), there is a 90-percent chance of breaching 1.5 degrees C in at least one year between 2021 and 2025. [1] Xu et al. (2018) predict that the underlying temperature trend will likely reach 1.5 degrees C by 2030, [2] while the Intergovernmental Panel on Climate Change (IPCC) surmises that this could be pushed back to 2040, provided that remedial measures are implemented rapidly. [3]