Only thriving corporations

In Short

The only progress is pledges by corporations to go carbon-free… soon, after a few more decades of hydrocarbon overuse.

A Few Details

Only shy energy-efficiency and clean air standards are imposed by the legislators, as the conversion cost would end up being paid by the final consumers, rich and poor alike.

Thriving corporations promise to act on their own to cut their emissions, especially the most preeminent ones shamed by public outcry.

Other corporations can’t afford it fast, as additional costs could make them lose market shares. It can only happen when the old machinery is about to break down, and when it makes economic sense to replace it with energy-efficient replacements and stay competitive. Energy-efficiency has always progressed as technology improves and investments follow. Cars or machinery are more efficient than in the 1960s, before the oil shocks of the 1970s.

Decarbonizing heavy industries such as steel or cement will continue to pose huge challenges.

Oil industry promised to limit methane leaks over the short term, even if they should disappear within a few decades, unless it converts to new energy sources.

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