The need to respond to climate change is triggering perhaps the largest and fastest economic transition since the Industrial Revolution. That transition—driven by policy, public concern and innovation—will create and destroy enormous amounts of value, posing challenges for investors attempting to navigate a fundamental reshaping of the global economy.
Over recent decades, an overwhelming consensus has emerged among climate scientists of the need to substantially decarbonize the global economy by the second half of this century. That consensus is reflected in the international policy framework created by the Paris Agreement on climate change, and the policies that national governments are increasingly putting in place to encourage this decarbonization.
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