Australian companies plan for climate warming exceeding 2°C

Following the introduction of mandatory climate reporting in Australia, major corporations are disclosing business strategies based on significant global temperature increases. Sustainability reports from several large energy and resource companies indicate they are planning for a “base case” scenario involving more than 2°C of warming.

Major mining firms, including Rio Tinto and BHP, expect global temperature rises to exceed 2°C by the end of the century. Additionally, energy companies AGL and Origin Energy have stated their business models are expected to remain robust even if warming exceeds 2.6°C. These projections diverge from the 1.5°C warming threshold established by the Paris Agreement, a level scientists warn is necessary to avoid the most severe environmental and economic risks.