"As a responsible risk officer, board member, shareholder, you need to think about that".
"Any credible pathway to meeting the 1.5 degree scenario must focus on emissions rather than fuel", Katie Warrick, interim chief executive officer of the WCA, said after reviewing a draft of the report.
The landmark Paris Agreement adopted in December 2015 by 195 nations at the 21st Conference of the Parties to the UN Framework Convention on Climate Change (UNFCCC) included the aim of strengthening the global response to the threat of climate change by "holding the increase in the global average temperature to well below 2°C above preindustrial levels and pursuing efforts to limit the temperature increase to 1.5°C above pre-industrial levels".
The Nobel Prize-winning organisation said that the world was well off track in its goal of limiting global temperature rise to below 1.5ºC and heading for 2ºC or more.
Director Dr Richard Dixon said: "Today's IPCC report is an unprecedented warning on climate change".
What does the report say?
While the 1.5℃ cap is the desired limit, it isn't entirely safe for humans as well as for the flora and fauna.
Researchers found that "human caused" C02 emissions need to be cut by almost half of 2010 levels by the 2030 to starve off the worts effects of climate change.
The report also takes into account the possibility of removing Carbon dioxide with technologies.
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In second place was another new release, musical romance " A Star Is Born ", which took in $41.25 million. At the global box office, the film has collected 56 million dollars.
How can all that be done?
"This latest IPCC report points to the urgency and scale of action required to achieve this, which should be keenly reviewed by every single board room".
- It will require a huge ramp-up in renewables so they generate 70-85% of electricity supplies by 2050, while coal power's share of the mix tumbles to nearly nothing.
In its landmark report, the United Nations has warned that time is running out to avert disaster, adding that avoiding global climate chaos will require a major transformation of society and the world economy that is "unprecedented in scale". It's therefore important for all the nations to make efforts towards limiting the warming.
Prime Minister Scott Morrison said Australia would meet its emissions reduction targets, but he also wants to keep power prices low. For instance, by 2100, global sea level rise would be 10cm lower with global warming of 1.5°C compared with 2°C. The half degree change would impact nature significantly as up to 90% of warm water coral reefs are predicted to disappear when global warming reaches 1.5℃, however, it the reefs will still have a 10% rate of survival, which is higher than what will survive when the temperature reaches 2℃.
"If all anthropogenic emissions (including aerosol-related) were reduced to zero immediately, any further warming beyond the 1°C already experienced would likely be less than 0.5°C over the next two to three decades (high confidence), and likely less than 0.5°C on a century timescale (medium confidence), due to the opposing effects of different climate processes and drivers".
The IPCC does not do any of its own research, so the report draws on more than 6,000 research papers to reach its conclusions.
The Nobel Prize-winning Intergovernmental Panel on Climate Change issued its gloomy report at a meeting in Incheon, South Korea.
Stop Climate Chaos Scotland said the report is a "game changer" and urged the Scottish Government to set a net zero emissions target by 2050.