Next week’s COP27 conference must push climate back to the top of the agenda, leading investors say, amid concerns the war in Ukraine and energy crisis have dragged governments’ focus away from achieving decarbonisation targets.
At the same time, governments across the world have been grappling with the impact of the deepening energy crisis, raising concerns of aThe Russian invasion of Ukraine in February this year exacerbated an already tight energy market, which had been battered by the rapid economic rebound from the COVID-19 pandemic and extreme weather conditions in various parts of the world.
“What these conferences do is to provide investors with more information ... of the direction of policy travel. At the moment we only have these big statements which is we all pledge to something that’s very long-term. And while that gives us some direction of travel, we don’t know what that exactly means,” she said.
“In light of obviously geopolitical and energy crisis issues that are going on ... really keeping the even keel and the direction of travel [is important] and continuing that acceleration and not using the current environment as an excuse to slow down the policy but recognising what we need to deal with the energy crisis,” she said.
EY climate change and sustainability partner Emma Herd said decarbonisation and the current energy crisis went hand in hand.“I don’t think it’s an either-or. I think it’s actually the same discussion. Questions around energy security, energy supply, energy price, they are all questions about emissions and decarbonisation as well,” she said.
SimoneFoxKoob If carbon was really the issue, we would have transitioned to nuclear. Renewables are the most inefficient, resource demanding, soon to be toxic landfill solution. Clearly, there’s another agenda.
SimoneFoxKoob Decarbonisation/renewables is the reason there is an energy crisis. What a contradiction.