Increasing levels of human-made GHG (greenhouse gas emissions) will lead to more climate extremes and irreversible damaging effects that will drastically affect all of our livelihoods (Source: NASA). Climate change is happening now and the climate imperative is now more urgent than ever before. In order to curtail the effects, global temperature increase needs to be limited to 1.5°C by reducing emissions to reach net zero by 2030 (Source: UN). Thanks to governmental and societal pressure, this requires an investment of EUR 2 to EUR 3T per year into clean energy and infrastructure, resulting in one of the generation’s most significant investment trends (Source: Deloitte). The energy sector is responsible for 75% of GHG emissions and will be an area of focus, alongside carbon removals (Source: UN).
“We will really end up needing 20 or 30 companies all the size of Royal Dutch Shell if we have to pull 5bn-10bn tonnes out of the year [annually]. We need an industry the size of the oil and gas industry, that works in reverse,” said Mr Friedmann.
