A just transition – ESG Feature


Time is not on the side of governments who have pledged to decarbonise their economy. There are less than 30 years left to achieve the 2050 target of cutting carbon levels to net zero and for countries like the US, the UK and Japan that timescale is becoming more and more challenging.


Switching the global economy from extractive to regenerative energy means finding secure and reliable alternatives to burn- ing oil and gas. So far, making such a breakthrough has proved difficult.


Energy bills for homes, businesses and motorists have rocketed since the second half of last year. Increasing demand has hit the supply of traditional energy sources, such as gas, while modern, cleaner technologies like windfarms were the victim of there not being “enough wind” in the North Sea. Shifting the world onto electrically powered vehicles will only push demand higher, and that is without getting into building the charging infrastructure needed to support the motoring revolution.


If moving the world off oil sounds tough, how about doing it in a way that stops communities falling into poverty. Mark Dunne looks at how investors are funding a just transition.


Issue 112 | April 2022 | portfolio institutional | 25


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