The So What from BCG
To Save the Planet, Move Fast and Clean Things
Nov 29, 2023
Explore the urgent need to close the $18 trillion investment gap for the energy transition. Discuss progress towards 2030 climate goals and the role of consumers in driving change. Learn about the challenges and opportunities for businesses in addressing climate change. Understand the difference between demand-led and supply-led transitions in clean energy.
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Quick takeaways
- Closing the $18 trillion investment gap requires pricing externalities, making consumers aware of the actual cost of energy, and collaboration between businesses and policymakers.
- The energy transition to a low carbon future requires supportive policies, incentives, and redesigning energy markets to reflect renewable energy's unique characteristics.
Deep dives
Closing the Investment Gap: Meeting Climate Goals
An 18 trillion dollar investment gap exists between current capital spending and the 2030 Global Climate Goals. Renewable and low carbon energy sources must be incorporated three times faster than previous fuel transitions. To fill this gap, pricing externalities is crucial in order to close the green premium gap and make consumers aware of the actual cost of energy. The transition to a low carbon economy requires a society-wide approach, with collaboration between businesses and policymakers.
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