At a climate change conference in Paris last week, Fatih Birol, chief economist at the International Energy Agency, had a blunt message for energy companies.
“We see some moves from energy companies in the direction of sustainable development. However, it is not at the level you would like to see,” Mr. Birol, who will be promoted to chief of the IEA in September, told those assembled. “If they think that their businesses are immune to the impacts of climate policy, they are making a strategic mistake.”
Other experts sound a similar note, calling for changes so fast and sweeping that they would be like an “induced implosion.”