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Fortune
Fortune
Bob Sternfels

The world needs to spend $3.5 trillion a year to fight climate change. Meet the biggest reallocation of capital in history

(Credit: David McNew - Getty Images)

High inflation. Conflict in Ukraine. Political instability. Pain at the pump, and the meter.

Finding the balance between energy security and greenhouse gas reductions has never been more difficult. Even so, more than a third of the world’s largest public companies have pledged to reach net zero by 2050, and the number is growing: in Britain, France, and Germany, it is more than two-thirds.

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