Very interesting speach from Mark Carney, departing governor of the BoE regarding business and climate change.
Essentially he is warning that as we go forward, there are going to be two types of businesses.
Those who embrace climate change and put at the heart of their business model and those who will ultimately try to continue as normal and will wither and die.
He was speaking about investors who since the first Paris Climate meeting have ploughed well over £2.5 trillions into fossil fuel industries.
These have historically made good returns.
But if this is repeated in the next decade, these returns will continue to drop as customers move away from such sectors.
If anything is going to tackle the climate emergency, it has to be profits driven.
There has to be a price on CO2.
And it has to be done by not just those businesses profiting from damaging our planet but by those emerging businesses who will drive those relics out of the market place.
Essentially he is warning that as we go forward, there are going to be two types of businesses.
Those who embrace climate change and put at the heart of their business model and those who will ultimately try to continue as normal and will wither and die.
He was speaking about investors who since the first Paris Climate meeting have ploughed well over £2.5 trillions into fossil fuel industries.
These have historically made good returns.
But if this is repeated in the next decade, these returns will continue to drop as customers move away from such sectors.
If anything is going to tackle the climate emergency, it has to be profits driven.
There has to be a price on CO2.
And it has to be done by not just those businesses profiting from damaging our planet but by those emerging businesses who will drive those relics out of the market place.