Seven key takeaways from the discussion between Former Bank of England and Bank of Canada Governor Mark Carney and Hendrik du Toit, CEO of Ninety One.
The fast view
There are two “high-ambition” goals for COP26: for countries to make net-zero pledges, backed by credible plans; to establish the tools and markets so every financial decision can take climate into account.
You can’t look backwards for answers to the climate challenge. You have to apply forward-looking judgement, including with respect to your investment portfolio.
Expect a big acceleration of public pools of capital towards the transition to net zero.
Investors should shift their focus more to supporting companies that are helping the transition to net zero, not just screening out the climate ‘problem’ from their portfolios.
Net zero requires a whole-economy transition. This is why efforts to tackle climate change are a major commercial opportunity, not just a societal imperative.
We need a new version of globalisation to ensure that the transition happens fairly for developing economies.
The pandemic is causing major changes in the supply side of the economy. One of the big judgements for policymakers and investors to make is how permanent those changes are.
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