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
Also in this section
9 January 2026
A shift in perspective is needed on the carbon challenge, the success of which will determine the speed and extent of emissions cuts and how industries adapt to the new environment
2 January 2026
This year may be a defining one for carbon capture, utilisation and storage in the US, despite the institutional uncertainty
23 December 2025
Legislative reform in Germany sets the stage for commercial carbon capture and transport at a national level, while the UK has already seen financial close on major CCS clusters
15 December 2025
Net zero is not the problem for the UK’s power system. The real issue is with an outdated market design in desperate need of modernisation
