Al Gore: Markets are key in battle to combat climate change
Former US vice president Al Gore praises commitment of financial institutions to find solutions to global warming in exclusive interview with Euromoney.
Al Gore, the former vice president of the United States and leading environmental campaigner, says that market forces will play the pre-eminent role in the fight to combat climate change in an exclusive interview published by Euromoney. Gore says he is encouraged by the commitment of some of the world’s largest financial institutions to pledge capital and intellectual resources to financing new technology that will assist in reducing greenhouse gas emissions.
“In some cases the commitment of larger banking institutions has run ahead of the expertise and knowledge that currently exists. And that’s OK. It’s right to try to understand the best ways to maximise the opportunities. It’s a massive shift, and it’s going to pick up speed and be one of the largest movements in the history of business," Gore said in an interview with Euromoney’s editor, Clive Horwood.
In a special report that was distributed at the annual World Bank/IMF meetings in Washington, Euromoney looks at the extent to which green finance will change the fabric of the global capital markets in the years to come, speaking to the thought-leaders at the world’s largest banks about their strategies to assist in – and benefit from – the challenge of climate change.
Al Gore explains why a new approach to investment is needed and discusses his own hands-on experience, adopts an unusual position in the carbon tax versus cap-and-trade debate, and says banks are generally ahead of the game – but still have a lot more to do.
More green finance:
Euromoney looks at the extent to which green finance will change the fabric of the global capital markets in the years to come, speaking to the thought-leaders at the world’s largest banks about their strategies to assist in – and benefit from – the challenge of climate change.
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