US President Barack Obama encouraged businesses to invest in green technology in his speech during the CEO Summit of the Asia-Pacific Economic Cooperation held on 18 November 2015 in Manila, Philippines.
The President made this pitch in preparation for the 21st Conference of the Parties (COP21) to the UN Framework Convention on Climate Change, where more than 190 countries are expected to achieve a legally binding and universal agreement in Paris to keep global warming below 2°C.
Green technologies as growth drivers
"An ambitious agreement in Paris... is a signal to the private sector to go all-in on renewable energy technologies. And if we can get an agreement done, it could drive new jobs and opportunities, and investment in a global economy that, frankly, needs a boost right now."
The following are snippets of his speech:
- "The possibility for us to start investing in clean energy, power generation that is sustainable, leap-frogging old technologies and getting into new technologies all could provide an enormous boost. And there is a lot of capital out there looking to invest."
- "The problem is governments can't do it by themselves. The good news is, is that more and more companies are realizing that climate change presents a huge business opportunity."
- "...(T)his progress is not limited to big businesses. You've got small businesses and folks up and down the supply chain who are investing in energy efficiency and clean energy, too. And oftentimes they're finding that they're saving money while operating in a cleaner way."
- "The old rules that said we couldn’t grow our economies and protect our environment at the same time, those are outdated. We can transition to clean energy without squeezing businesses and consumers."