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He also said how companies approach environmental, social and governance issues has become a defining factor for investors.

The approach to climate change needs to focus on the “substance of the matter,” rather than the individual act of individual corporations, he said.Corporations will continue to act in their own best interest without standard policies in place, according to Minerd.

Today, there is no economic incentive for investors to change their standards, which will continue until there is broader change and support, he said.

Gas will remain relevant even as new technologies such as hydrogen are developed.“It’s in effect a backup system,” Moniz said.

To help kick-start the clean shift, 37% of the EU’s 750-billion-euro recovery fund will be spent on projects linked to the Green Deal.

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