The continuing global shift towards decarbonisation means 80% of the world economy is now covered by net zero pledges.
Governments and companies are increasingly committing to climate action with many realising the global economic benefits of investing in net zero by 2050 would outweigh the costs, while failing to tackle climate change could cost the world an average of $1.7 trillion a year.
The regulatory response to climate change presents significant opportunities, with new markets and technologies developing as part of the transition towards a lower-carbon economy. Organisations that are on board and prepared will likely see enormous flows of capital and benefits, while those that are moving too slowly face being left behind.
There is no ‘one size fits all’ approach as we move towards a carbon-constrained future. Organisations will need to continue to commit to, and deliver on, targets; provide accurate and relevant information to the market; and be open to change as the landscape evolves.