Way to go is to generate renewables to cut carbon, green hydrogen to cut diesel, petrol
Specification is now in place for the responsible retirement of stranded high-carbon assets and the winding down of those that will not live out their entire geological life.
Available for this absolutely essential transition is more than $130-trillion – the value of the collective balance sheets of already committed financial institutions, asset owners, asset managers, banks, insurers, export credit agencies, and others. Broad brush, the money is there, and in terms of the commitments of these institutions, obviously it is net zero by 2050 at the latest.
But very importantly, it is a fair share of the 50% reduction by 2030 – so there is a near-term target, an actionable target. More than 5 000 major companies around the world now have the most rigorous, science-founded, target-based net-zero plans. The way to go for the good of the planet is to generate renewable energy to cut carbon, and green hydrogen to cut diesel and petrol. The funding is there for credible projects and it is the business opportunity of our lifetime.
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