Transition to a Low-Carbon Economy
The challenge of moving to a low-carbon economy
Transitioning to a low-carbon economy presents both a significant opportunity and an enormous challenge. An opportunity in that the commercialization of low-carbon solutions, including clean energy technologies, can further catalyze an important emerging market and support the transformation of the global energy sector. Simultaneously, this transition presents an enormous challenge given the significant capital required to transform economies that have been reliant on an energy system that has been largely fossil-fuel based. This challenge is even greater when you consider the requirement to make investments today for benefits that will materialize well into the future. A successful transition will require close coordination between policy, technology and capital, at the core of which is partnership between the public and private sector as well as opportunities to partner with countries around the world.
In an in-depth discussion with Private Wealth Forum, Tracy Wolstencroft, Global Head of Environmental Markets at Goldman Sachs, shares views on the opportunities and challenges of a growing industry that has the potential to strengthen economic growth and secure greater energy independence, while reducing the impacts of climate change.