NGFS climate scenarios are pushing financial players into risky gambles

Reclaim Finance criticizes the NGFS's June 2021 climate scenarios for failing to provide realistic 1.5°C pathways. The organization argues that the scenarios rely too heavily on carbon capture and storage (CCS) and fail to mandate an end to fossil fuel investments, which could lead to stranded assets and global warming overshoot. Reclaim Finance recommends that the NGFS align its forecasts with an immediate end to new fossil fuel projects and adopt a precautionary approach to biomass and carbon dioxide removal.

• The NGFS's 1.5°C scenarios are considered unrealistic and high-risk because they promote unsustainable energy usage and fail to require an immediate cessation of investment in fossil fuel projects, increasing the risk of global warming overshoot.
• The scenarios rely excessively on carbon capture and storage (CCS) and other negative emission technologies (NETs), misleadingly labeling scenarios with higher fossil fuel use and CDR as "orderly" and less risky.
• The NGFS scenarios assume significant use of biomass and biomass energy with carbon capture and storage (BECCS) in the long term, while ignoring the limits of sustainable biomass generation.
• These flawed assumptions may lead financial institutions to take on additional financial risks by funding new fossil fuel projects that could become stranded assets, as well as uncertain carbon capture and unsustainable biomass programs.

APA

admin (2021). NGFS climate scenarios are pushing financial players into risky gambles. Reclaim Finance. https://reclaimfinance.org/site/en/2021/08/04/ngfs-climate-scenarios-are-pushing-financial-players-into-risky-gambles/

Chicago

admin. NGFS climate scenarios are pushing financial players into risky gambles. Reclaim Finance, 2021. https://reclaimfinance.org/site/en/2021/08/04/ngfs-climate-scenarios-are-pushing-financial-players-into-risky-gambles/.

Wikipedia

{{cite press release |last1=admin |title=NGFS climate scenarios are pushing financial players into risky gambles |publisher=Reclaim Finance |date=4 August 2021 |url=https://reclaimfinance.org/site/en/2021/08/04/ngfs-climate-scenarios-are-pushing-financial-players-into-risky-gambles/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{admin2021ngfs, author = {admin}, title = {{NGFS climate scenarios are pushing financial players into risky gambles}}, publisher = {Reclaim Finance}, year = {2021}, month = aug, url = {https://reclaimfinance.org/site/en/2021/08/04/ngfs-climate-scenarios-are-pushing-financial-players-into-risky-gambles/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }