The End of the World as We Know It

The recently signed Paris Agreement, ratified by 195 countries at the 21st Council of the Parties, potentially signals a change in the urgency with which the world will address the risks of climate change. The Agreement sends a clear signal that the world will be transitioning to a low-carbon economy that will look radically different — from an energy perspective — than the one we know today. While the degree to which the ambition of the Agreement is matched by actions remains to be seen, we believe the energy transition is already underway and change is now inevitable. As a result, investors face both risks and opportunities, but more importantly, we believe investors have a responsibility to actively drive this transition.