It will require effective collaboration between business and government to ensure that global markets are incentivising clean technology investments so that we can replicate the incredible clean tech growth we’ve seen in the power sector across other industries. Breaking down transition barriers in the most challenging industries will require governments to apply a sectoral, not economy-wide, focus.
Policy approaches have come a long way over the past five years, but it’s still not enough. More than half of business leaders surveyed in the CCST point to regulation as the single most important accelerator of change. But in the case of climate, we also need business leaders to speak more loudly and be more specific about what they need from governments to keep ahead of the curve. Few of them will say what most know: namely, that the business case for low-carbon investment is often weak and that business leaders can’t magic up solutions that run against market realities.Īs the CCST makes clear, business can drive incredible change and we need business leaders to take risks, drive innovation, and transform industries. Those in the highest-emitting sectors can feel this pressure most acutely.
Investor groups, consumers and governments are all demanding more. Meanwhile, the pressure on companies is intensifying.
