Sustainable Finance and Climate Risk
Tax Incentives Deployed in Countries Leading the Fight Against Climate Change:
How Does Canada Stack Up?
Peter van Dijk, Executive in Residence, Global Risk Institute
Angelo Bertolas, Senior Tax Advisor
Climate change is an urgent and existential threat to humanity. In a press release, dated August 9, 2021, UN Secretary General Antonio Guterres calls the recent Sixth Assessment Report of the Intergovernmental Panel on Climate Change (IPCC) a “code red for humanity.”
Scientists have warned that to avoid the worst effects of global warming we must limit the global temperature increase to well below 2°C, compared to pre-industrial levels,2 but strive to limit the global temperature increase to 1.5°C.3 As we have already reached an increase in global temperatures of 1.2°C, the urgency to take action is clear. The increased frequency of significant weather extremes – such as flooding, wildfires and drought – are already having a dramatic effect on people, animals and other forms of life around the world.
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