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Davos 2020 Recap: Climate Change, Climate Change, Climate Change
By admin January 30, 2020

TOPSHOT-DAVOS-politics-economy-diplomacy-SUMMIT : News Photo

This year’s World Economic Forum in Davos placed climate change clearly on the agenda, signaling a shift that businesses are realizing the real consequences for their profits. In fact, the Wall Street Journal described the event as a “climate change conference this year.”

At the conference, many climate topics were addressed, such as sustainable development, sustainable cities and sustainable markets. Political and business leaders  discussed the current political and economic system, and possible solutions to the climate crisis. 

Several companies made light commitments to protect nature, and according to Time, a group of Investors called the Net-Zero-Asset Owner Alliance aims to have a zero emissions portfolio by 2050 with more than $4 trillion in assets. Unfortunately, the general trend was commitment without much detail.

According to the Wall Street Journal, there was some disagreement between business leaders in who should take the lead on climate action. Some argued that governments must be at the forefront in changing policies to incentivize businesses, such as implementing a price on carbon. Other leaders stated that there is a need for further fossil fuel development, in order to continue important economic growth. Some bank leaders stated that banks should not have to take a lead in refusing to lend to fossil fuel companies – Goldman Sachs, which has committed $750B to sustainable finance initiatives, also noted that they would not stop raising money for fossil fuel companies but would help “good” companies in that sector. 

Other executives demonstrated concern over how the climate will affect their profits, especially through changing consumer preferences and share prices. These financial risks drove many of the conversations at Davos. 

Greta Thunberg made an appearance, taking part in a panel on averting a climate apocalypse. US President Trump also made a speech, decrying climate “alarmism” and committing the U.S. to plant more trees.

The conference demonstrated the attention that this issue is garnering. But while leaders are now talking, the need for action is becoming more and more necessary. 

For more on the New York Time’s News, click here

For more on Time’s news, click here.

For more on the Wall Street Journal’s news, click here.

#climatechange #sustainability #sustainabledevelopment  #davos #worldeconomicforum #gretathunberg #cleantech #renewableenergy #renewables #fossilfuels #goldmansachs 

Image Source/Credit: Getty Images/Fabrice Coffrini

 

 


Thanks for sharing !


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