According to a study released on Wednesday in the journal Nature, Greenland’s ice sheet is melting faster than previously believed. The amount of glacier ice lost between 1985 and 2022 has been underestimated by as much as 20%. This comes after satellite image tracking glacial retreat over the last four decades. 5,091 square kilometres of ice has been lost since 1985 due to warmer global temperatures caused by burning fossil fuels. That’s an average of about 193 square kilometres of ice a year. 

Greenland’s shrinking ice sheet, about three times the size of Texas, is already contributing to higher seas and may be impacting the distribution of heat worldwide. It is the second-largest contributor to rising sea levels. Oceans absorb around 90% of global warming, which leads to ice melting faster. 

The data was collected by 240,000 satellite images of glacier terminus positions (where glaciers meet the oceans). 

Rising sea levels threaten to intensify flooding in coastal and island regions and could ultimately cause these low-lying areas to submerge.

Last year was recorded as the hottest year in history, which could seriously impact deep water currents that control global weather.

Choosing ESG funds could contribute towards decreasing global warming, as companies make assertive efforts to reduce their carbon footprint on the environment. Historical data shows that ESG funds have often outperformed non-ESG funds over time.