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      "text": "The Glasgow conference sought pledges to help keep warming below 1.5 degrees Celsius, and the current set of national commitments are promising. A total of 153 countries put forward new 2030 emissions targets, which, to be realized, would need involvement and action by the private sector. The formation of the Glasgow Financial Alliance for Net Zero (GFANZ) demonstrated that the private sector is getting serious about channeling capital towards the achievement of net zero. Meanwhile, regulators are increasing the pressure. In June 2022, the European Union announced provisional new disclosure standards for companies. The UK has also mandated that as of April 2022, Britain's largest firms must disclose climate-related financial information. And the recently passed US Inflation Reduction Act allocates $369 billion to reducing greenhouse gas emissions and investing in renewable energy sources. Policy changes come against the backdrop of further scientific warning. The Intergovernmental Panel on Climate Change (IPCC) underlines the scale of the challenge: emissions must peak in fewer than 600 working days (i.e., by 2025) if the world is to stay on track to limit warming to 1.5 °C.",
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      "text": "Notes: a Net Zero Tracker (as of October 2022); b World Bank Carbon Pricing Dashboard (as of October 2022); c GFANZ; d TCFD Status Report 2021 – “supporters” refers to organizations that have pledged their support for the TCFD recommendations.",
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