David Hone

Climate Change: Threat or Opportunity for the Global Economy?

Mike Scott, Lord Gregory Barker, Baron Barker of Battle, Ben Goldsmith, David Hone, Sonia Medina, Gérard Moutet, Greg, Steve Podmore

Global leaders and industry executives converge to assert that the low-carbon transition is now driven by economic viability rather than policy alone, with China and major oil companies actively pivoting strategies to capitalize on new markets and mitigate risks. Key developments include China's imminent nationwide carbon trading system, Shell's shift toward gas-focused operations, and a $1 billion collaborative fund by the Oil and Gas Climate Initiative to accelerate emission-reducing technologies. As institutional investors increasingly prioritize transition risks and the Financial Stability Board prepares new disclosure standards, the event highlights a projected "golden age" of private sector innovation expected to redefine energy mixes by 2040 despite political headwinds.