A new report from asset manager Schroders has warned that global temperatures are on course to rise by up to 4C, twice as much as safe levels laid out under the Paris Agreement.

The investment firm has developed a dashboard that measures current progress towards tackling climate change and predicts the outcome if the current path is followed.

If current political pledges are carried out then the temperature rise could be limited to 2.8C, but current actual progress puts the figure at 3.6C.

The dashboard will be updated each month to monitor progress.

Warning over complacency

Andy Howard, Head of Sustainable Research at Schroders, said: “Climate change will be a defining driver of the global economy, society and financial markets over coming years, decades and beyond.

“While the issue has moved up investment agendas, the change in strategies has not kept pace.

“The danger is that investors think the problem is being tackled, and that their exposure to climate change risks is reduced, when this is not necessarily the case.”

> Download Schroders' dashboard