The energy transition from dirty fossil fuels to clean, renewable sources isn’t just coming, it’s here. Bloomberg New Energy Finance commented at an April presentation of their New Energy Outlook 2017 report.
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The oil and gas industry has an opportunity. As climate change related destruction grows, it is clear that we must quickly reduce greenhouse gas emissions or face increasing destruction of our lives, the economy, and the environment.
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Watching Harvey approach from afar in August 2017, I again hoped for the best, but then the horror sunk in as friends posted photos and videos of unprecedented destruction. The National Weather Service had to develop new colors for its coding to account for the rain and floods caused by Harvey.
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The Trump administration’s announcement to end the Clean Power Plan increases risk to investors now and into the future. Fossil-fired utilities are the source of one-third of U.S. greenhouse gas emissions. The U.S. is already paying a high public health and economic price from climate change.
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The need to go green has been called “an inconvenient truth” — a distraction from the regular ways of doing business, and not necessarily a money-maker. Markets around the world, however, are proving that going green is a solid way of making green, too. The Carbon Clean 200 is a bi-annual report released by my colleagues at As You Sow and Corporate Knights.
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