According to Legal & General's updated climate scenarios, what is the projected global warming level under its 'inaction' scenario — and how does that compare to its previous estimate?

Legal & General’s updated 'inaction' scenario — which assumes no additional climate policies are introduced by governments — now projects approximately 2.5°C of warming above pre-industrial levels, down from 3°C in its previous analysis. This revision reflects faster-than-expected clean-energy deployment and electric-vehicle adoption, leading the firm to conclude that current levels of coal, oil, and gas consumption are unlikely to endure.

What key evidence does Legal & General cite to support its claim that 'the energy transition is alive and well' despite political headwinds?

Legal & General cites dramatic declines in clean energy costs and the growing electrification of key industries — especially transportation — as evidence that the shift away from fossil fuels is continuing. It also highlights that its updated climate modeling shows global emissions now projected to peak before 2030 under its 'inaction' scenario — the first iteration to show that — and that keeping warming below 2°C remains 'achievable and affordable — for now.'

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