4.4 • 1K Ratings
🗓️ 12 August 2016
⏱️ 19 minutes
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0:00.0 | This is exchanges at Goldman Sachs where people from our firm share their insights on developments |
0:13.4 | currently shaping markets, industries, and the global economy. |
0:16.5 | I'm Jake Stewart, Global Head of Corporate Communications here at the firm. |
0:20.3 | Last December, 195 countries came together in Paris to strike a landmark climate change agreement. |
0:26.0 | The deal's ambitious targets to reduce greenhouse gas emissions are adding to the global push for a low-carbon economy that is less dependent on fossil fuels. |
0:35.0 | To discuss the technologies making this possible and the implications for existing industries, |
0:39.6 | I'm joined today by Yako Karoshi of Goldman Sachs Research. |
0:42.8 | Yako, welcome to the program. |
0:44.0 | Thank you very much. |
0:45.0 | Yako. |
0:46.0 | To kick it off, where are we in the transition to the low-carbon economy? |
0:49.0 | If you go back to the 1990s, when a lot of the development started around this. |
0:55.8 | We really didn't have any low-carbon technologies. |
0:59.7 | It's a big debate about what to do about climate change, but not a lot of technological solutions. |
1:04.1 | Absolutely we didn't have low-carbon sources for power generation |
1:07.6 | other than hydro nuclear at the time. We were far away from alternative sources in lighting. |
1:14.0 | We didn't have the prospects even of alternative vehicle technology. |
1:18.0 | We think we're now at an inflection point. |
1:20.0 | And the reason for that is that we think that low-carbon technologies are now taking off the training wheels. |
1:26.0 | So there are select technologies out there, not all of them, but some of them, that are now rapidly gaining scale and taking market share in things like lighting, power generation, autos. |
1:39.0 | And we think that is changing the way that powers generate, the way it's stored, the way it's |
1:47.0 | consumed, and that taken together, that's what we describe as the low carbon economy. |
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