The Globe and Mail reports in its Saturday edition that Mark Carney, chairman and head of transition investing, Brookfield Asset Management, says that the ratio of clean-energy to fossil-fuel investment over the next decade is probably the most critical indicator of whether the world can meet its net-zero objective. The Globe's Jason Kirby writes that today that ratio sits around 1-to-1. Mr. Carney figures that by 2030 it must rise to between 4-to-1 and 5-to-1. That means a rapid acceleration in clean-energy investment, a process that has already begun.
Importantly, a smooth energy transition will also require some limited and targeted investment in fossil fuels, to maintain the stability of our energy systems and our economies. However, the ratio of clean-energy investment to fossil-fuel investment rises from 1-to-1 to at least 4-to-1, not 4-to-0.
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