Everybody wants to go to heaven but nobody wants to die.
That’s Thomas Friedman’s (NY Times) summation of Glasgow. I like it.
Many people in my LinkedIn network are involved in the energy transition in some capacity. So if that’s you, you don’t need to read any further. You already know this stuff.
If you’re not in the energy space, I have really good news for you (just in time for the holidays!) - there are large, industrial, clean energy sectors being amassed now, waiting to be unleashed. A lot is being built already, but exponentially more is building up at the gate.
Investment capital is accumulating at record pace, massive leaps in innovation are happening right now in both electrons (electricity) and molecules (hydrogen), renewable energy costs are low and continue to decline, supply chains are readying, and project scale trajectory is mind-boggling. These virtuous dimensions are reinforcing each other in astounding ways, all building up at the gate ready to unleash the full force of future-friendly, intelligent capitalism.
While I think Friedman writes an article worth reading (link below), he gets it wrong, in my view, by pinning all of our hopes on a private sector full of more Elons while relegating the decarbonization plans of 195 nations to the corner as 'not possible'. It's not just about funding research - government should be on the hook for so much more than R&D. We urgently need comprehensive climate policies that (finally) create a level playing field so that clean technology and forward-thinking capitalism can do their thing. Lower the gate already.
Could we use a few more Gretas and a lot more Elons to join us? Of course. But it's important to remember that while Elon is successful because he is visionary, takes risks, and goes all in, none of his success would be possible without supportive government policies and infrastructure. It's the public-private dance.
Make no mistake - government is, and always will be, the ultimate gatekeeper. It’s why Glasgow was so important. It’s why COP27 Egypt will be so important. And the next. And the next.
Our generation has a moral and fiscal responsibility to relentlessly remind policy makers of the worst offending nations that the only way to get to heaven is to (let some industries) die.
