How Will We Deliver a Net Zero Carbon Economy?
Submitted by Acre
This paper discusses the outcomes from a trio of cross-industry, solutions-focused interviews that looked to determine the resources and workforce skill sets that will be required to effectively deliver a green recovery by closing existing gaps and determining how best to overcome them in the current health crisis and beyond.
For sustainability professionals and environmental activists, the past decade has seen, arguably, the most dramatic shift in acknowledgment of our planet’s climate crisis to date. So much so, that over 1,700 jurisdictions across 30 countries have declared a climate emergency in the last year. As we endeavour to respond and to combat the effects of climate change, the conversation no longer revolves around whether or not we should transition towards a net zero carbon economy, but rather how we are going to do so.
In July 2020, the G10 and China announced the largest economic stimulus package in human history, committing upwards of $15trillion dollars in an attempt to advance the war on climate change and to alleviate the devastating economic aftermath of the current health crisis. With that, we‘re observing the emergence of a low carbon economy through a new, growthoriented lens that aims to create jobs and spark economic recovery in line with the funds promised.
Blackrock, with $7trillion in investment, have claimed they will avoid investments in companies that present a high sustainabilityrelated risk, while 631 institutional investors with over $37 trillion in assets are calling for government leaders to accelerate efforts to tackle the global climate crisis, combined with the Green Bond Market passing $1trillion in issued bonds in September 2020.
Experience tells us that for every dollar spent now, we can foresee either a cost or a saving in the future. How we choose to respond is up to us. As a collective, setting this multifaceted, environmentally charged recovery in motion will require a plan that is both implementable and scalable across a comprehensive range of industries and societal bodies to ensure that we don’t lock in carbon that cannot be unlocked in the medium to long - term.
- Nick Daniel, Head of Energy & Climate Change
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