From Ambition to Action: Reflections on the theme of COP30
The power of COP is that it generates and celebrates collective action on practical solutions.
KPMG is empowering our clients to plan and implement these approaches through responsible action.
Attending COP30 is like nothing I’ve ever experienced before. It’s equal parts pragmatism and passion from some of the world’s greatest thinkers and doers on climate action. I’ve been struck by the breadth and depth of the topics covered, ranging from pandas to seafaring to AI and everything in between! Yet, this range of impacts and solutions is the challenge. The fragmentation of policy and regulation has created a disorderly transition, which makes it difficult to drive targeted collective action.
As a result of geopolitics and global trends, there are three areas where I anticipate the most activity in the near future:
- Energy infrastructure
- Innovation of clean technologies
- Bioeconomy - those parts of the economy that use renewable biological resources, i.e. crops, forests, animals and micro-organisms, to produce energy. For example, biodiesel, sustainable aviation fuel (SAF), and biomethane.
Although the cost to progress in these areas is high, according to a study performed by the WBCSD1, 92% of CEOs are saying that the cost of inaction is now higher than the cost of the energy transition. I will be watching the following three areas as these trends play out.
- Using AI to reduce costs and achieve net zero goals
- Insurance as a catalyst to address the need for resilience due to severe weather events
- Quantification of significant emerging risks on enterprise valuation calculations
I’m looking forward to engaging in these discussions and learning more from our clients and you in the coming months!
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