The Organization for Economic Co-operation and Development (OECD) estimates that over the next 15 years an annual investment of $6.9 trillion in energy, transport, building and water systems is necessary to meet the requirements of a 2-degree scenario as set in the Paris Agreement. In addition, the goals of reaching net-zero emissions globally by mid-century imply that social and technological transformation must happen at unprecedented pace. In the face of such challenges, the financial sector (both public and private) plays a critical role in transforming our current sectors and systems in a direction that would contribute to the overall fight against climate change, environmental degradation, and social inequalities.
With this seminar we want to explore the following questions:
- What is (or should be) the role of financial investment in the netzero transition?
- What are currently the main barriers for the financial sector in supporting a rapid, net-zero transition (in Norway)?
- What is the knowledge needs of the financial sector and how can social science energy transition scholars contribute?
There will be 10 min presentations by each speaker followed by about 30-40 minutes open discussion. Speakers include:
- Johan Schot, Director of the Transformative Innovation Policy Consortium (TIPC), and Professor of Global History and Sustainability Transitions at the Utrecht Centre for Global Challenges, Utrecht University. He will talk about deep transitions and transformative investments, see below.
- Eivind E.Olsen, CFO, Nysnø Climate Investments, Norwegian State climate investment company
- Øyvind Leistad, Director Economics, ENOVA
- Erik Ranberg, CIO, & Stian Fjellstad, ESG Analyst, Gjensidige (Insurance, Pension, and Investment)
- Gunnar S. Eskeland, Professor of Resource and Environmental Economics at the Norwegian School of Economics (NHH). He can/will talk about SGE and asset creation in transitions
- Roger Sørheim, Professor at Department of Industrial Economics and Technology Management, NTNU. He can/will talk about Corporate investment and cleantech
Based on his ideas of deep transitions, Johan Schot leads a Global Investor Panel of both private and public investors, to develop a new type of investment that is fit for a world in transition: Transformative Investment. He suggests that the answer may not be simply ‘more’ investment in science, technology, innovation, human capital and infrastructure. Business as usual will not work. Investment needs to bring about fundamental change by directing the underlying principles that drive these systems towards a circular, low carbon, more decentralized, local, and resource efficient economy. This will mean changing the directionality of development away from linear, carbon and resource intensive, and hyper globalized and centralized modes of operation. This shift of directionality is what we a call a transformation from the First Deep Transition into a Second Deep Transition ( Schot, J., & Kanger, L. (2018). Deep transitions: Emergence, acceleration, stabilization and directionality. Research Policy, 47(6), 1045-1059. doi:https://doi.org/10.1016/j.respol.2018.03.009).
Coffee, Tea, water, and cake will be served.
For further information, contatct Allan Dahl Andersen.
Please register your participation below!