Paris climate deal could make energy more expensive
End of the fossil fuel eraSome international public figures including Al Gore argued that the agreement signalled the end of the fossil fuel era suggesting that the climate talks could have far reaching consequences for industry, security and the financial markets. For US Vice President Al Gore said: ““This universal and ambitious agreement sends a clear signal to governments, businesses, and investors everywhere: the transformation of our global economy from one fuelled by dirty energy to one fuelled by sustainable economic growth is now firmly and inevitably under way.” European renewable energy stocks rallied earlier this week after some high profile investors called for the markets to be bold and re-evaluate any fossil fuel accounts on investment books. Goldman Sachs’ analysts described the Paris deal as the most important since the 1997 Kyoto Protocol and said that it would bolster the fast growing low carbon-emissions economy estimated to be worth $600 billion-plus.
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