Good morning from Geneva.
The world will be “transitioning away from fossil fuels in energy systems” by 2050. That, combined with ambitions of tripling of renewable energy capacity globally by 2030, is the main outcome of COP28, the UN climate meeting in Dubai. Is that a good outcome for business? I asked some executives who were present in Dubai, and this is what they told me:
“The decision to transition away from fossil fuels, triple renewable energy, and double energy efficiency, secures a milestone...for a net-zero future. This is a good first step from a complicated COP process, but not enough given the urgency of the climate challenge. The world will increasingly look to business to turn these words into action.”
