A major shift has occurred throughout industry and decarbonization is now a high priority. This shift has occurred, in part, due to the rapid decrease in the cost of renewable energy, as compared to traditional energy. Other factors motivating the shift include the rise of ESG principles, investor pressure on public companies, and costly disruptive risks within supply chains.
Decarbonization is now the greatest opportunity for global economic growth, sustainability and prosperity. The current view of business leaders, financial institutions, insurers, investors and policy makers is that there is a lucrative approach to rapidly deploy clean and relatively inexpensive technologies that significantly reduce carbon and other greenhouse gas (GHG) emissions.
Recent reports such as The Renewable Spring show that a rapid industrial clean-energy transition will stimulate exponential growth and create massive benefits similar to past industrial revolutions. Decarbonization is already attracting significant private capital and building momentum. Policy makers are doing their part to enable legislative frameworks and funding.
The truth is that trillions of dollars will be saved and additional trillions will be made as a result of decarbonization. All of this will occur while creating a healthier planet for us, our children and future generations. This process might turn out to be the greatest win-win in history.