The climate war will be lost unless all of big business signs up

It will cost many trillions to help the third world go green, and developed nations’ governments can’t foot the bill alone

03 November 2021 - 20:01 By Michael R Bloomberg and Mark Carney

The battle over climate change is putting an old maxim to the test: where there’s a will, there’s a way. The COP26 climate summit in Glasgow offers reasons to hope it will be proven correct, particularly on a challenge at the heart of the issue: financing the global transition to clean energy.

There is no longer any doubt about the will. Today, more than two thirds of global GDP is covered by some form of commitment to reach net-zero emissions. Turning these commitments into real action is the focus of COP26. And while much of the attention during and after the conference will be focused on national governments, they can’t do it alone...

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