“Ketan Patel, Chairman Force for Good, talks to Tim Sweeney, President, Liberty Mutual Insurance, at the 7th World Investment Forum on 18-22 Oct 2022, discussing the major challenges facing the world with regard to the Sustainable Development Goals and the longer term need for systemic decarbonisation.
On the managing the transition away from carbon energy: “The energy transition is going to be largest reallocation of capital of our time. We do need to mobilize the capital to get it right, and we need public and private partnerships. Our global economy has been built on a fossil fuel infrastructure, and it's not going to be easy or fast to make that transition, but it's the transition that we have to make. We're going to be reliant upon old sources of energy as we build the infrastructure for new sources of energy, so it's going to be important that we balance that as we move forward, and then rescaling of labor and making sure that we manage through what will no doubt be labor disruption.
On engaging customers to promote the transition: “We're starting to move down the path of trying to play our role in providing incentive and prompting to clients and customers to start to enter their own migration and their own path toward cleaner energy. We view it as something where we don't want to be punitive to our customers and partners. We want to be part of the solution and work with them by creating innovative products to help our existing customers and new customers meet their climate change challenges, and to pursue investment opportunities.”