Sunday, Dec 6 Copenhagen

Text:
‘I agree with Micheal that you can’t negotiate private capital, but you can drive private capital. And I think if countries here, if industrialized nations agree to a 25 to 40% cut by 2020, and also say they plan to reduce their by 80 to 85% by mid century, then anyone investing in the energy sector and industry not taking that into account would be mad. We know that over the next 20 or so years, about 20 trillion dollars is going to be invested in the energy sector as the world economy picks up. 85% of that investment is going to come from the private sector. And I think that those private sector investments will be guided by those short and long term goals. And if we can use the much more limited public money that will flow from Copenhagen to help the private sector to go that extra green mile that’s not possible within that a normal investment equation, we will have an excellent blending of financial resources to a much greater effect over the longer term.’