Octopus CEO says fossil fuel incumbents destined to lose
Speaking at The Independent’s Climate 100 summit at NY Climate Week
In today’s edition:
— ‘No one can charge a petrol car at home’ — and what that means for the future of energy
— Are Europe’s political leaders missing a rising wave of green investments?
— In New York, protests target financial institutions some claim are profiting off the climate crisis
— Extreme weather may force Olympics to shift the calendar to protect athletes
— New York, Los Angeles vie for ‘worst traffic’ crown, especially this week
At the same time that President Donald Trump was calling the fight against climate change one of “the greatest con jobs” across town at the United Nations, Greg Jackson, CEO of UK renewables pioneer Octopus Energy, said Tuesday that the forces of fossil fuels were destined to lose.
“It’s not about Net Zero, it’s about price,” Jackson said at The Independent’s Climate 100 event in midtown, which Callaway Climate Insights partnered with. “The world of electricity is going to change more than anybody realizes in the next few years.”
Jackson compared fossil fuel advocates to those of horse-drawn carriages and print newspapers in saying they all stopped at nothing to prevent innovation but ultimately lost to cheaper and better technologies.
Octopus has become the largest renewable energy company in Britain in the past decade and is expanding into Europe as well as the U.S.
As Trump disparaged climate efforts — and New York Climate Week — in his speech to the UN, Jackson laid out how falling solar and battery prices would ultimately force the market to transition to renewables, regardless of what the fossil fuel industry argues.
Jackson said new nuclear technologies, touted by the Trump administration, are still too expensive and too far away from development. And that electric vehicles would ultimately prevail over gasoline-powered cars, despite concerns about the abundance of charging stations.
“No one can charge a petrol car at home,” he said.
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Rising wave of green investments in Europe
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