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Mark Carney said moving away from fossil fuels is not “a green switch you can flip” as easily as some climate activists may hope. The former Bank of England Governor turned Head of Impact Investing noted four-fifths of global energy is still supplied by fossil fuels and it will take time for the planet to make a complete shift to renewables. Speaking to Sky News, Mr Carney said: “There is not a green switch we can flip this afternoon and move from being economies where 4/5ths of global energy is supplied by fossil fuels today.
“And overnight be 100 percent supplied by renewables.
“That’s not possible.
“But what is essential is there’s no investment in additional capacity that the world is going to need.”
More to follow…
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