Greg Ip of The Wall Street Journal outlines why financing the multi-trillion-dollar energy transition is not that hard.
- A new report from the International Energy Agency estimates that the world needs to invest $4 trillion a year to transition to a low carbon economy.
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The private sector is leading the way to a cleaner energy future and will continue to invest in low carbon technologies when it is in their best interest to do so.
- Investments in the energy transition totaled half a trillion dollars last year.
“First, the sums involved aren’t that large when properly scaled. As Mr. Moynihan says more than once: ‘It’s not that much money.’ Second, while government action is key, the private sector through its own commitments to net zero can create the revenue streams needed to mobilize capital.”
Read the full article here.
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