According to Joe Romm in “In Historic Paris Climate Deal, World Unanimously Agrees To Not Burn Most Fossil Fuels”
The economic and environmental implications of this deal for Americans are staggering. In the near term, it will unlock an accelerating multi-trillion-dollar shift in capital investment away from carbon-intensive coal and oil, which were the cornerstone of the first industrial revolution, into clean technologies like solar, wind, LED lighting, advanced batteries, and electric cars. It means far less harmful carbon pollution will be emitted in the coming years.
The agreement “sends a very powerful message to the business and investment community that the age of fossil fuels is ending,” explained the Union of Concerned Scientists’ Alden Meyer. Thus, “continued investments in high-carbon assets conflicts with their fiduciary responsibility.”