“Scientific evidence shows that the remaining carbon budget consistent with limiting global warming to 1.5°C is now almost exhausted,” Sleijpen said in Manila on Monday. “We are no longer choosing between success and failure, but between an outcome that is bad but still manageable, and an outcome that we can no longer manage.”

Sleijpen spoke in his capacity as chair of the Network for Greening the Financial System, a club of global monetary authorities. He also heads the Dutch central bank.

Uploaded by Liza Shireen Koshy