THE CARBON WAR

Act de Triumph 333
on Climate Change) presented of what would have to be done to limit climate
risks such as weather extremes and sea-level rise. To stabilize our climate, carbon
dioxide emissions have to peak well before 2030 and should be eliminated
as soon as possible after 2050. Technologies such as bio-energy and carbon
capture and storage as well as afforestation can play a role to compensate for
residual emissions, but cutting carbon dioxide is key. Governments can indeed
write history today, so future generations will remember the Paris summit for
centuries to come.”
The corporate world begins to respond, only slightly slower than the NGOs.
Paul Polman of Unilever hits the nail hard on the head: “The consequences of
this agreement go far beyond the actions of governments. They will be felt in
banks, stock exchanges, board rooms and research centres as the world absorbs
the fact that we are embarking on an unprecedented project to decarbonise
the global economy. This realisation will unlock trillions of dollars and the
immense creativity and innovation of the private sector who will rise to the
challenge in a way that will avert the worst effects of climate change.”
Rob Bernard, Chief Environmental Strategist, Microsoft: (this) “will
provide the certainty required for corporations around the world to accelerate
their low-carbon investments and foster the creation of a true low-carbon
global economy.”
I like the certainty bit.
Stephanie Pfeifer, CEO of IIGCC, a network of 120 institutional investors
with over €13 trillion in assets under management: “The Paris Agreement is
a historic turning point for investors. If adopted, 195 countries will together
opt to signal their intention to decouple their prosperity and development
from fossil fuel use – sending a very strong signal to business and investors
that there is only one future direction of travel to reduce emissions in line with
a 1.5°C pathway. Investors across Europe will now have the confidence to do
much more to address the risks arising from high carbon assets and to seek
opportunities linked to the low carbon transition already transforming the
world’s energy system and infrastructure.”
Reading the cascade of comment and analysis from around the world,
and chipping in some of my own on Twitter, time flies.
I suddenly notice that 3:45 has come and gone.
News comes that the restart has been delayed to 5:30.
The rumour mill immediately kicks in.
This is where Twitter comes into its own. Many journalists are glued to it.