Those who don't recognize [the potential of greener energy] and adapt to it are in commercial risk. They're going to be left behind. Al Gore
Al Gore made a powerful speech at COP26 yesterday where he addressed the inherent weakness of continuing to invest in non-renewable energy resources.
The former governor made the case that the $22 trillion "carbon bubble" (the amount of value left from fossil fuels on our planet) would never be capitalized on as greener alternatives will simply drive the inherent value down.
He stated that once everyone "internalized" the long-term risks of continued fossil fuel usage the "value of all these assets" is going to diminish significantly.
It's consistently been assumed that as fossil fuels become more scarce, its value will continue to go up, which has halted many energy investors from making a greener transition - but as the governor pointed out, the long-term detriment to the environment will have such a powerful depreciation on the overall value of these assets - that they become untenable.
Conversely, the potential upside from investing in renewable resources is clear, especially as so many businesses, nations and even individuals begin to favour these greener alternatives.
Al Gore brought this home with the powerful remark that "those who don't recognize [the potential of greener energy] and adapt to it are in commercial risk. They're going to be left behind."
It's encouraging to see rhetoric that doesn't just speak to the environmental downsides of continuing
to use fossil fuels, but rather addresses the inherent opportunities they present - showing businesses and
corporations that going green isn't just better for the planet, it's better for their margins, too.
https://www.bloomberg.com/
You can also catch Al Gore's CNN interview from COP26 here:
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