US banks predict climate goals will fail – but air conditioning firms will thrive
Posted by Konradleijon@reddit | collapse | View on Reddit | 21 comments
Wall Street financial institutions, including Morgan Stanley and JPMorgan Chase, predict a 3°C rise in global temperatures, far exceeding the Paris Agreement’s 2°C limit. This forecasted increase in global heating is expected to lead to catastrophic consequences but also create profit opportunities for air conditioning companies, with the global market projected to grow by 41% by the end of the decade. The skepticism of these institutions reflects a broader retreat from climate concerns in the finance sector, influenced by political factors and a lack of commitment to climate goals.
DissedFunction@reddit
the problem is the grid will ultimately fail.
and yes you can run AC off home solar but it's not going to keep mcMansions even close to frosty when it is 100+F w/ high humidity and warm nights.
so there will be lots of folks thinking they'll be ok when they won't.
that might also explain Trump's fixation with northernmost land like Greenland and Canada.
Konradleijon@reddit (OP)
Don’t batteries exist?
UAoverAU@reddit
Ambient temperatures aren’t the primary issue. Dark roofs and dark exteriors are the problem, especially in sunny regions. Roof temperatures can reach greater than 160F. Attic temperatures can reach 140F or higher. Solar attic fans are critical for lowering home temperatures in these conditions, but going with white or bright colored exteriors, including the roof, should be far more effective.
HardNut420@reddit
Climate change will create a new class of peasantry
HergestRidg@reddit
Exponentially downward social mobility for everyone
HanumanjiShivaRam81@reddit
I’m so glad I didn’t have kids. I don’t want to leave my child to face this kind of future.
defianceofone@reddit
They don't even know how AC works if this is their advice.
Supreme stupidity from the capitalist cancer class.
LilyHex@reddit
Oooo exciting! Will we starve to death or die of heat-related causes first?
I sincerely hate this current version of events.
Konradleijon@reddit (OP)
Wall Street financial institutions, including Morgan Stanley and JPMorgan Chase, predict a 3°C rise in global temperatures, far exceeding the Paris Agreement’s 2°C limit. This forecasted increase in global heating is expected to lead to catastrophic consequences but also create profit opportunities for air conditioning companies, with the global market projected to grow by 41% by the end of the decade. The skepticism of these institutions reflects a broader retreat from climate concerns in the finance sector, influenced by political factors and a lack of commitment to climate goals.
InternetPeon@reddit
Thank you, bank, for aligning your resources on accelerating over the edge of the cliff. Still if the world’s most powerful business faction becomes air conditioning perhaps we will build a global air conditioning system.
fitbootyqueenfan2017@reddit
quick! sell your tesla stock and crypto! buy into AC now!!! or just steal some AC units at some point
vaporizers123reborn@reddit
We are cooked.
Everyday I wonder how close we really are to a rapid collapse of systems. Even now living in the United States, with the shitstorm of regressive idiotic legislation flying around, the facade of “normal” life is still alive for many. Despite the “gestures around at everything”. When does that final thread snap, and the unraveling starts?
tje210@reddit
Time to pivot from enterprise IT to HVAC
bessierexiv@reddit
lol, lmao even. They’re eying investment into these air conditioning companies.
Remember guys, trying to stop climate change is just too expensive for that piece of paper we call money.
gmuslera@reddit
New Mad Max sequel landed. An empty land, no more humans around, and a lot of robotic factories making air conditioners around.
At least is better than AIs turning everything into paperclips.
ElephantContent8835@reddit
Just an astounding lack of understanding concerning what’s around the corner.
Imbackoverandover@reddit
Is this the financial system's realization of the great Nordhausian dream of moving everything indoors for 5% of GDP? Like everything. Agriculture, entire ecosystems etc...
Yes, that will indeed raise orders for air conditioning.
Ne0n_Dystopia@reddit
Thought this was the Onion for a moment
Imbackoverandover@reddit
You mean they were serious??!!??
When satire reads like truth and truth satire, you know we are in deep doodoo.
DelcoPAMan@reddit
That will certainly help all of their employees who now have to obey the RTO rule or get fired.
StatementBot@reddit
The following submission statement was provided by /u/Konradleijon:
Wall Street financial institutions, including Morgan Stanley and JPMorgan Chase, predict a 3°C rise in global temperatures, far exceeding the Paris Agreement’s 2°C limit. This forecasted increase in global heating is expected to lead to catastrophic consequences but also create profit opportunities for air conditioning companies, with the global market projected to grow by 41% by the end of the decade. The skepticism of these institutions reflects a broader retreat from climate concerns in the finance sector, influenced by political factors and a lack of commitment to climate goals.
Please reply to OP's comment here: https://old.reddit.com/r/collapse/comments/1jq0q46/us_banks_predict_climate_goals_will_fail_but_air/ml3ich2/