Estimates for investments required in areas such as efficiency improvements, renewable energy, nuclear energy, carbon capture and storage amount to as much as 1 trillion euro annually. Technological innovation is assisting this transition. This includes developing efficient heating solutions, advances in LED lighting technology, utilizing geothermal power, and developing electric vehicles.
I know there is still considerable uncertainty about the potential returns on these investments. But I expect this uncertainty to diminish significantly as international disclosure standards make climate risk more transparent, and governments introduce clarity by setting targets, rules and deadlines.