Climate deals are like ordering a pizza. The bigger the group deciding the terms (or toppings), the harder it is to avoid the policy equivalent of a plain cheese pie, says Tom Rand, author of the book Climate Capitalism.
The Glasgow Climate Pact adopted by nearly 200 countries is evidence, Rand says, of a growing hunger for lower emissions, despite disagreements on how to get there.
“What I think we saw at COP for the first time in history was a very engaged public, and a narrative that began to talk about more than aspirational targets,” he told Yahoo Finance Canada’s Editor’s Edition.
While critics have taken aim at softened language in the flagship deal, Rand notes the importance of an agreement struck between the U.S. and China, as well as smaller pacts on carbon credits and protecting forests.
In this episode, he also discusses Canada’s new environment minister, problems with defining ESG, and shareholder activism at Shell.
Got a question for Tom Rand? Email Jeff.Lagerquist@yahoofinance.com and let him know what interests you in the world of clean energy and technology.
Jeff Lagerquist is a senior reporter at Yahoo Finance Canada. Follow him on Twitter @jefflagerquist.