Impressions from the Paris Climate Talks

Last week the Sustainable Innovation Forum was held at the Stad de France as part of the COP21 Climate Talks. The main COP21 talks involved governments negotiating a plan but the Forum focused on the role of business in mitigating climate change. The overwhelming consensus was that the business sector is now moving toward drastically reducing reliance on fossil fuels. The main question now is what will be the pace of this change.

Several speakers commented that since the COP talks in Copenhagen six years ago the cost of the technologies to build a clean energy infrastructure has fallen faster than anyone could have predicted. Energy Secretary Moniz said that LED lighting has fallen 200% in just the past two years. In some areas wind and solar electricity is already at price parity with fossil fuel generated electricity and the price continues to fall.  The technologies will improve and the economies of scale brought on by greater deployment will bring about further cost reductions. Energy cost money and energy efficiency was mentioned many times. BMW, Avery Labels, Delta Electronics talked about how reducing waste in materials and in energy is not only good for the environment but it is also good for business. The conversation also included the climate awareness of the Millennial segment of the population. A company will need to adhere to these clean energy values if they are to attract this large portion of the population as customers and as employees.

The impression from the forum was that the technology exists, it is cost competitive and becoming cheaper, and that smart business is going in the direction of energy efficiency and clean energy. The question is not why, if, or should a business do something but how fast will this happen and how long can a business wait.  Carbon Xprint is a product that can help speed this transition.