Ernest Moniz Interviewed by CNBC’s Steve Sedgwick Ahead of COP26
On Monday, September 6th, CNBC’s Steve Sedgwick interviewed EFI Founder and CEO Ernest Moniz alongside Energy Transitions Commission chairman Adair Turner. The two discussed tech, carbon prices, and government policies ahead of COP26, the major upcoming climate summit.
In the interview, Moniz emphasized the importance of government policies to unlocking capital in the transition to clean energy. Oil and gas companies “have to be a part of the solution for the energy transition,” said Moniz. He explained how these companies can aid the transition but must be more aggressive so that they can bridge the transition with high-paying, good-quality jobs for their employees. For this to happen, we will need a broader system view, pulling everyone together..
In consideration of this broader system, financial institutions are evaluating how their investment strategies evolve with the transition. EFI will be looking at how to reshape the policy and regulatory world to unleash private capital, said Moniz, describing the energy transition to net-zero as a “$100 trillion-dollar affair.” He is encouraged that financial institutions are demanding disclosure from oil and gas companies.
We know that most areas of the clean energy transition right now do not have, let’s say, the returns that an investor would like without government coming in and reshaping policy and regulation.
— Ernest Moniz
However, Moniz noted how “we know that most areas of the clean energy transition right now do not have, let’s say, the returns that an investor would like without government coming in and reshaping policy and regulation,” adding that this key step requires more attention.
The full interview is available here.