Schroders PLC has launched a tool for institutional investors designed to aggregate temperature indicators and enable viewers to monitor global progress toward a low-carbon economy.
The tool, Climate Progress Dashboard, will compare projections made by international organizations and produce a quarterly estimate of the temperature change expected to take place in the coming decades. In the quarter ended June 30, the U.K. money manager found that the global average temperature could increase 4 degrees Celsius, which is 2 degrees higher than the commitment global leaders made when they signed the Paris agreement in 2015.
The tool analyzes progress made in 12 different factors. According to the report published by Schroders on July 17, the current levels of oil and gas production — the single-biggest factor measured — could contribute to a projected temperature increase of 7.8 degrees in the coming decades.
Production will need to fall more quickly under more ambitious climate scenarios, Schroders said in the report. Coal production currently fosters a 2.2-degree Celsius increase, about 0.2 percentage points higher than the target.
The tool can found on Schroders' website.