From Watts Up With That?

Essay by Eric Worrall

Apparently, it is President Trump’s fault global CO2 emissions are out of control.

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%

Oliver Milman
Thu 3 Apr 2025 04.39 AEDT

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.

…

“We now expect a 3C world,” states a March analysis by Morgan Stanley. This level of global heating above preindustrial times is well beyond the 2C limit agreed to by governments and would lead to catastrophic heatwaves, floods, economic strife and other upheavals.

…

“We are clearly seeing a broad retreat on climate from the finance sector,” said Paddy McCully, senior analyst at Reclaim Finance, a group that pushes financial firms to act on the climate crisis.

“It is to a very large extent being influenced by Trump and his agenda of accelerating climate change, although also due to banks using Trumpism as an excuse to roll back commitments that they had never actually intended to keep.”

Morgan Stanley’s investor research on air conditioning is “mind numbingly cynical”, McCully said. “Especially as it comes just months after they first weakened their decarbonization targets and then quit the Net Zero Banking Alliance.”

…Read more: 

https://www.theguardian.com/environment/2025/apr/02/us-banks-climate-goals-fail-air-conditioning

Before you rush to put all your money into air conditioners, this report was produced by the same Morgan Stanley which upgraded their outlook on Chinese real estate to “attractive” in 2021, a few months after news of the Evergrande scandal broke.

China’s Harbin lends hand to property firms; Morgan Stanley upgrades sector view

By Reuters
October 11, 20216:05 PM GMT+10

BEIJING, Oct 11 (Reuters) – Harbin has become one of the first cities in China to announce measures to support property developers and their projects, which have been shaken by the deepening debt crisis at property giant China Evergrande Group (3333.HK)

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In a further positive sign for developers, Morgan Stanley lifted its view on China’s real estate industry to “attractive” from “in line”, saying regulators may relax their grip on the sector to help stabilise it and support the economy.

…Read more: 

https://www.reuters.com/world/china/harbin-among-first-chinese-cities-announce-steps-help-property-developers-2021-10-11/

If anyone has a link to the Morgan Stanley global warming report, please share it in comments.

One positive, this alarmist banker vision of a 3C warmer world implies there will still be a functioning economy. At least some people are expected to have enough money to buy air conditioners.

In fairness Morgan Stanley is not all orange man bad. In a recent article Morgan Stanley praised President Trump’s banking transparency measures.