Whole economy must decarbonise, not just power—Davos

The ‘other 75pc’ of the global economy needs to help the world get to net-zero, and the financial sector should help facilitate progress

Power generation is the main focus of popular pressure to tackle climate change, but far more attention needs to be paid to the three-quarters of global greenhouse gases that are emitted from sectors such as agriculture, transport, manufacturing and buildings, delegates at Davos Energy Week heard on Wednesday. Microsoft founder and philanthropist Bill Gates coined the term ‘The 75pc problem’ to describe the issue. Speaking at Davos, David Hayes, managing partner at BP Ventures, which invests in new energy businesses to deliver BP’s net-zero ambition, said: “We recognise it is a real issue [in the way of] getting to net-zero. Reaching net-zero will require a collaborative effort, he said. “It