Green energy’s $10 trillion revolution faces oil crash test
In 2014, when the price of oil last crashed, the world’s governments had no agreement in place to fight climate change. The following year leaders signed the Paris accord.
Green investments have soared since then. Some $1.2 trillion has been poured into renewable energy, and global electric vehicle sales reached 2 million last year. Bloomberg NEF expects as much as $10 trillion poured into clean energy by 2050.
The accord also marked a cultural watershed, with emissions targets now policed by a growing environment movement that’s shaping politics from Germany to India. In a sign of the times, activist Greta Thunberg and Tesla Inc. founder Elon Musk are now two of the most famous people in the world.
