To Fight Climate Change, Put Markets to Work
The global transition to clean energy and green infrastructure will require vast amounts of capital. Private-sector leaders stand ready to act.
Opportunity.
Photographer: Angel Garcia/Bloomberg
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 gross domestic product 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, the fact is: They can’t do it alone.