Unlock the free White House watch bulletin
His guide of what the United States election means 2024 for Washington and the world
John Kerry, the former Secretary of State of the United States and climate sent, said the companies were being intimidated to leave green goals under the presidency of Donald Trump and the oil groups accused of “being on the wrong side of history”, even when the industry doubles.
After the Ceraweek industry conference, where Saudi Executive President of Aramco, Amin Nasser, said there were “more possibilities to talk about Elvis” than the change to renewable energy work, instead of highlighting the reduction of emissions of “conventional energy”, Kerry said that this point of view “could not be more bad.”
“If the head of an important fossil fuel company wants to pretend that it will not happen, to have it. But they are on the wrong side of the story. And the story is not only waiting to prove it. [It’s] demonstrating it right now. This transition is happening. “
Kerry, who has joined Galvanize Climate Solutions, the investment group founded by the Democratic presidential fellow Tom Steyer, said that solar and wind energy was rapidly displayed even in the US. UU., Where renewables represented almost 90 percent of the new electricity.
The International Energy Agency said last year that clean energy spending was twice as fossil fuels, € 2TN worldwide. However, this was mainly satisfying the growing demand for energy instead of replacing fossil fuels.
The 81 -year -old argued that some companies had been “intimidated” to drop or minimize green efforts, a reference to the rejection of Republican states on environmental, social and governance issues.
A large number of companies have abandoned or delayed the net objectives of net emissions or abandoned from industry coalitions against a political reaction, often citing the slow rhythm of change and lack of government support.
But Kerry said that behind the scene, many continued advancing with climate risk planning. “Everyone I am talking to assure me that they are staying in the target, but they simply do not want to put a goal in themselves, due to this weapon [of climate change]”, Said.
Kerry said that companies and states had already changed their operations and productions for a greener future, citing car manufacturers as an example.
“The CEO of Ford and General Motors and Mercedes and Volkswagen, all of which their production facilities have changed to produce electric vehicles. None of them will suddenly say, oh, let’s return and make internal combustion motor cars, ”he added.
He believed that many companies advanced independently of Trump. “They are doing this because there is money to do, because you have to make an investment, because this is the transformation that will affect the world.”
The former Secretary of State of the United States also said that the European approach to increase his defense expense was “backward and appropriate”, but added that this did not have to be at the expense of climatic action.
I was talking in London outside an event organized by the Sustainable Markets initiative, a group established by King Charles to boost the private sector to accelerate the action on climate change.
Jennifer Jordan-Saifi, executive director of SMI, added that many executive directors were reluctant to put “their head over the parapet” in climatic problems because “they will shoot them.”“
“When you have this type of wind against and people are concerned about their shareholders and, often, even the CEOs are concerned about their own position. They care enough for him [climate] Problem, but if they do not respond to their shareholders, they are in a 22 trap, ”he said.
Kerry also minimized concerns that other countries would follow the United States to withdraw from the Paris Agreement, the global agreement to address climate change, after Trump withdrew the world’s greatest historical pollution in the world for the second time.
“No country with wise and reflective leadership will burn his back to embrace the new energy future for the simple reason why it is better, it is healthier, it is cleaner, it is safer.”
Climate capital
Where climate change meets business, markets and politics. Explore the FT coverage here.
Are you curious about FT’s environmental sustainability commitments? Get more information about our science -based objectives here
