As activists' campaign for a low-carbon world, investors too are realising that the climate crisis is both a massive threat to global investments and a massive opportunity.
If anything has happened in 2019, it is that the world's climate crisis is finally on policy and investment agendas as pressure from ordinary citizens and investors pushes governments and companies to adopt resolutions for change.
Extreme weather events are reinforcing the urgency. In Alaska, more than 90% of days were warmer than normal in 2019, bushfires are raging in Australia and cyclones and floods hit parts of Africa that are not accustomed to extreme weather.
Facing this problem head-on is not altruism, or a nice to have. It is modern risk management. Earlier in November, more than 11,000 scientists published a joint statement in the journal BioScience, warning that humanity faces "untold suffering due to the climate crisis" unless there are major transformations to global society.
However, as the scientists also point out, "despite 40 years of global climate negotiations, with few exceptions, we have generally conducted business as usual and have largely failed to address this predicament".
The uncomfortable reality is that urgent carbon reduction is required. For a start, fossil...