Ep #20: How Norway is Helping Resolve the Climate Crisis

Norway plans to be a low carbon economy by 2050, but the transition to get there keeps getting delayed, says Martin Skancke, Chairman of the Norwegian government's commission on transition to a low carbon economy, and Chairman of PRI (Principles for Responsible Investment) and board member in several companies.

We’re thinking too short term, says Martin, we aren’t looking at a long time horizon and therefore we’re increasing the risk as we run out of time. What needs to happen is for all stakeholders to connect the bigger picture with their plan for how to get there.

In this episode of Summa & Friends, Martin discusses where his passion and deep commitment to help resolve the climate crisis came from, what managers of listed equities can learn from managers of private equity in terms of addressing corporate governance issues, before delving into his work around Norway’s transition to a low carbon economy.

“We started at the opposite end, we started by incentivising everyone to buy their own electric car, and we'll find that policy will be difficult to reverse. But if we had thought more systematically about a solution that has a natural place in 2050, we would have maybe thought about it differently.”

To find out more, download and listen to this episode.

On today’s podcast:

• Developing a passion to resolve the climate crisis
• Norway’s transition to a low carbon economy
• The global institutional failure to find a solution
• The risk side of transitioning too late
• Why the world needs more climate policy action

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