Q: How do you feel about the developments at the One Planet Summit in Paris? Was it enough?
A: It wasn’t enough to hit the ultimate Paris Agreement targets, but enough to keep those targets in play. I very much enjoyed the flurry of financial-sector announcements at the summit. If the energy incumbency and its increasingly risk-burdened investors couldn’t see the writing on the wall after all those then they are in very big trouble.
My top moment was when the World Bank President announced an end to upstream oil and gas investment from 2019, the assembled dignitaries clapped loudly and protractedly, and many of them actually cheered.
I wished every oil company board could have seen that. It was a crystal-clear death knell for their current business models, and indeed for their corporations, if they don’t embrace systemic U-turns rather fast.
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