But the report's author, Thomas Kerr, warned that this was a transitory pulse when sustained growth was needed, particularly given signs that
no global price on carbon dioxide emissions was likely any time soon.
That will only be realized if there is action to drive renewables forward - which the GWEC sees as coming from a «clear pathway towards
a global price on carbon.»
While
a global price on carbon certainly would be important, we believe that investors are mistaken to assume that is the only path to stranding carbon assets.
Last year, Exxon refused to sign a letter from other international oil giants, including Royal Dutch Shell and BP, that strongly urged the Paris climate negotiators to push for
a global price on carbon.
The response piece, «Role of Scientists» Warning in shifting policy from growth to conservation economy,» includes two key areas for action in policy and science, from introducing a Nobel Prize in Economics for incorporating the limits of the biosphere to introducing
a global price on carbon.
What's more, cap and trade may be the world's best hope in putting
a global price on carbon pollution.
For years, the fossil - fuel industry has talked about the need to cooperatively solve the climate challenge, and many of the world's largest oil and gas companies have for more than a decade privately backed, if not publicly called for,
a global price on carbon.
The oil and gas companies know this, which is why they're speaking out in support of
a global price on carbon.