US banks predict climate goals will fail – but air conditioning firms will thrive

Reports predict global heating will bring catastrophes and that air conditioning market could grow by 41%

The world is on track for disastrous global heating - but this will create profits for some air conditioning companies, according to forecasts by leading Wall Street financial institutions.

Recent reports by Morgan Stanley, JPMorgan Chase and the Institute of International Finance all make clear the finance sector considers the Paris climate agreement limiting global temperatures, signed a decade ago by nearly 200 nations, is effectively dead and investors should plan accordingly.