Sustainable Energy Goals -“The effort will require a massive amount of technology but much of it is too expensive and won’t come down in price without public subsidies and investments, said Boston Consulting Group Global Chair Rich Lesser. BCG’s Global Chair Rich Lesser discusses the vital role of technology are now cost-competitive, others such as carbon capture and direct air capture will require public subsidies and substantial investments to lower their cost and make them scalable in the future. “We need support to build this infrastructure and make it affordable so that the private sectors want to adopt it and wants to use it”, said by lesser.
BCG research has found, however that certain large high-growth emerging market companies perform well in both financial and environment. Greater access to investments and lower capital costs as asset managers and lenders seek to meet their own sustainability commitments and earn the better returns often generated by companies with high ESG ratings
BCG’s center for customer insight has found that consumers in emerging markets express significant greater sensitive to Sustainable Energy Goals than those in development markets perhaps because they have more firsthand experience with the adverse consequences of climate change. of emerging market consumers 77 % said they care about sustainability. With 53% in developed markets and 80% indicated about sustainability of leisure travel. Thus, emerging market companies may have gotten off to a slower start than their counterparts in developed markets in terms of joining the sustainability movement.
More about Sustainable Energy Goals
CEOs also realized that Sustainable Energy Goals is becoming increasingly important for their overall performance and to building the resilience needed to manage risk and disruption the resilience needed to managed risk and disruption in today’s rapidly evolving international business landscape. In December, more than 190 governments at the United Nations Climate conference approved an agreement calling for a transition away from fossil fuels to combat global warming. The COP28 conference was widely viewed as a turning point in the fight against global warming. the effort will require a massive amount of technology, but much of it is too expensive and won’t come down in price without public subsidies and investments, said Boston Consulting Group chair Rich lesser.
Lesser, a former BCG CEO led the consulting company’s delegation to COP28, where BCG served as the principal strategy and action partner, working with public, private and social sector leaders on priority issues to accelerate climate action and advance adaptation and resilience. lesser also is chief adviser to the World Economic Forum’s Alliance of CEO Climate Leaders. He spoke with the wall street journal about the role of technology in the shift away from fossil fuels.
Rich Lesser, he thinks sense of urgency in the world continues to grow, the full range of technologies is about 55% of those technologies the most obvious is solar wind, a lot of battery technologies they are now cost competitive. But if they assume interest rates are going to moderate and that was certainly the signal out of the fed, they don’t have to come all the way back down to zero for these technologies to be well in the money and affordable. The technologies need to keep making progress decade are mostly available in the market.
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Lesser said, that to get to 2050, we have to go to net zero not just to go down a lot from where we are now. Then we have about 30% of technologies that are not close to affordable yet. The rest are somewhere in between, a little too expensive but they are not way too expensive as per report related to Sustainable Energy Goals.