The Trillion Dollar Innovation Opportunity

Climate change is a disruptor. Here’s how to harness it for innovation

Nigel Topping, 22 February 2019 (World Economic Forum)

“…The need to act on climate change is the greatest potential cause of disruption faced by new and established businesses alike, and is also the greatest catalyst for innovation for those willing to harness it…Sustainable business models have the potential to unlock $12 trillion in new market value, according to a report by the Business and Sustainable Development Commission…[The transition to electric vehicles (EVs) has already led to] more than $150 billion in investments to achieve collective production targets of over 13 million EVs annually by around 2025…Businesses that rely on cars and trucks for their operations are also responding, by embracing the shift to find new ways of creating value…[Chemical companies are using biomass] to generate power…

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[Spain’s largest utility Iberdrola] is committed to developing a business strategy fully aligned with its climate goals, with more than €32 billion of investments, from 2018 to 2022, focusing on renewable energies and networks…[Ørsted, the largest utility in Denmark,] transformed its entire business model to become a clean energy company – shifting its supply from coal and oil to clean sources like wind. In Denmark alone, Ørsted now accounts for more than half of the entire country’s CO2 reduction since 2006 – helping the country to achieve its Paris climate commitments…Constraint has always been a driver of innovation; and what clearer constraint could there be than the biophysical limits of our planetary system. It is truer now than ever that necessity is indeed the mother of invention…” click here for more

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