Estimates on the capital needed to achieve Net Zero goals, when the amount of carbon emitted into the atmosphere equals the amount carbon removed, range from $100 trillion[i] at the low end, to more than $275 trillion[ii] at the high end. A large chunk of that will be directed to energy production, one of the largest emitters, which will fundamentally alter the sector. “Clean energy sector growth will mimic what we saw in the tech sector in the early 2000s,” says Andrew Karp, Head of Sustainable Banking Solutions, Bank of America.
The forces behind this change aren’t as clear cut as they may first appear. In addition to the environmental, social and ethical considerations, it increasingly makes financial sense. “Net Zero is a significant economic opportunity and critical business consideration,” notes Karen Fang, Global Sustainable Finance Executive, Bank of America.
From regulatory policy to critical timetables, The Path To A Clean Energy Future report details ten major considerations facing sustainability efforts in the global business community. To learn more about how major trends – including renewable energy becoming the mainstream energy of the future – are shaping the years ahead, visit the Bank of America Institute for similar insights and expertise.
