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The accelerated transition scenario assumes a significant increase in energy costs in the near term, and substantially greater initial greeninvestments, rising to €2 trillion by 2025, compared to only €0.5 These risks would be particularly acute for companies in energy-intensive sectors such as manufacturing, mining and electricity.
Unlike the climate crisis that led to the signing of the ParisAgreement , biodiversity loss has received little attention until now. Most companies in nature-damaging sectors, such as apparel and manufacturing, are still failing to take meaningful action to stop biodiversity loss and environmental degradation.
This had been central to the climate accords since 2009, and is widely viewed as an indispensable ingredient for securing the mutual trust and cooperation of the 191 countries that signed the Parisagreement. Might it lead to manufacturers in places like the UK, throwing their arms up in the air and saying “why bother?”.
Delaying the transition to clean solutions, will mean losing competitiveness vis a vis countries like China that will reap the benefits of their leadership in the development of clean energy supply chains (from extraction of critical materials and manufacturing, to combining clean solutions like renewables, electric vehicles and battery storage).
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