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  • What would the snappy headline for our chat today?

  • Build back, better.

  • A post COVID world is one that will look quite different to a pre-COVID world.

  • There are millions of people who are out of

  • work, economic growth has been smashed - it's a terrible situation.

  • But what we've seen just in the last few weeks is this echo chamber almost of calls.

  • Calls from investors, trillions of dollars of assets under management, from leading energy

  • companies from corporates across the space from governments, saying we need to take this

  • opportunity, this tragic situation that we have today, to build back better.

  • A green recovery.

  • What do we mean by that?

  • I think oftentimes people muddle up the concept of spending versus investing.

  • Spending is important in terms of fiscal stimulus, but what we're talking about in the climate

  • transition is investment.

  • With investing, you get something back for it.

  • And this is what the Energy Transition Commission is calling for: unleashing massive investment

  • in renewable power systems, boosting the construction sector via green buildings and green infrastructure,

  • supporting the automotive sector while pursuing clean air.

  • And we're talking about cumulative gains from transforming the energy system alone that

  • could reach almost 100 trillion dollars between 2020 and 2050.

  • And that far exceeds the related investment costs of 15 trillion dollars.

  • The International Renewable Energy Agency has calculated that more than 17 million jobs

  • could be created in the renewable energy sector globally in the next 10 years.

  • That would essentially double the size of the workforce in the sector.

  • We need to face it; some parts of the economy are probably not going to come back.

  • Net zero means transformation of heavy industry.

  • It means petro chemicals, it means long-distance transportation, steel and cement and agriculture.

  • These are sectors of the economy that are critical for economic growth that we rely

  • on.

  • They are the ones that really need to decarbonise.

  • I'm optimistic.

  • And I'm optimistic because it's a value proposition.

  • Because engineers are smart, because battery technology is improving, because renewable

  • energy costs are declining, all the different suite of technologies that an enabling infrastructure,

  • grids, transmission and distribution, all of that is being built out.

  • And the effect of that is the transition has really made its way into the private sector.

  • This is possibly the best, if not one of the only opportunities to lift economic growth,

  • meaningfully, in the future.

  • There is a role for policymakers and there is a role for the private sector, and there's

  • a role for society.

  • This is not rocket science.

  • Investing in climate equals investing in growth.

What would the snappy headline for our chat today?

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B1 US FinancialTimes sector renewable energy investing economic growth

The unmissable opportunity to build a sustainable economic future | Rethink Sustainability

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    joey joey posted on 2021/04/24
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