Industry experts comment on Paris summit
Ed Davey, chairman of Mongoose Energy and former energy secretary says on the likely outcomes of the UN Climate Change Conference, Paris:
“My expectation is there will be a deal – the first ever that applies to all countries. My expectation is that it will make more progress than many of us dared expect, in actual emission reduction “promises”. And my expectation is that we’ll make good progress on some of the vital technical areas – especially the “rules of the climate change game”, including accounting, monitoring, review and verification.
“But I doubt my hopes will be realised. We will be short of what is needed – so the real key is this: what are the mechanisms for future (early) ratcheting up of promises/actions? If it’s clear Paris isn’t the final word, that’s a good thing.
“Key things to watch out for include what India says (and what it is actually doing); what is agreed on early action on forests; is there an agreement of HFCs?; are their side initiatives, outside of the formal text, that show the private sector galvanised more than governments?”
Ewen Cameron Watt, chief investment strategist at BlackRock adds: “Even if you are sceptical of global warming and its causes, no one should ignore that significant regulatory, economic and technological factors make this a major investment issue.
“Investors, corporations and governments are focusing on the risks and opportunities, as well as how best to tackle the challenges that are arising. These profound changes have the potential to affect asset prices in all areas for a long time to come.”