what you are interested in going to see, though, as government policy toughens up is clearer, fills in the different words the same thing about what is needed to get us to 1.5 degrees is companies are going to notjust say, theoretically this is what s going to happen, but actually i do have to write off some of those. we saw a tiny bit of that earlier last year, about a year ago with some of the major oil companies who wrote off some of those excess reserves thatjust don t make sense in a 1.5 degrees world. but it s a drop in the bucket thus far. i know you are a supporter of the carbon market as a way of generating finance, getting finance to those parts of the world that needed. one of the problems at the moment is what we call carbon leakage, so you get a territory like the eu that puts up the price of carbon, the carbon taxes and becomes more expensive for companies and then companies relocate to another part of
there s very little room to miss these deadlines. victoria gill, bbc news, glasgow. mr sunak will outline the initiative this morning alongside the former bank of england governor, mark carney. he says participating firms will have to be completely transparent about how they re improving their environmental credentials. he s been speaking to my colleague christian fraser. what we are increasingly going to see, though, as government policy toughens up, is clearerfills in, like different words for the same thing, about what s needed to get us to 1.5 degrees, these companies are going to have to notjust say theoretically this is what s going to happen but actually i do have to write off some of those. we saw a tiny bit of that earlier last year, about a year ago, with some of the major oil companies who wrote off some of those excess reserves thatjust don t make sense in a 1.5 degree world but it s a drop in the bucket thus far. one of the problems at the moment is what we call carbon lea
toughens up, fills in, about what is needed to get us to 1.5 degrees is companies will have to say notjust degrees is companies will have to say not just theoretically this is what is going to happen, but actually they will have to write off some of those. we saw a tiny bit of that earlier last year, about a year ago, with some of the oil companies who wrote off some of those access reserves that just don t make sense in a 1 .5 degree world. but it s a drop in the bucket, so far.- in the bucket, so far. one of the problems in the bucket, so far. one of the problems at in the bucket, so far. one of the problems at the - in the bucket, so far. one of| the problems at the moment in the bucket, so far. one of i the problems at the moment is what we call carbon leakage. so you get a territory like the eu that puts up the price of carbon, carbon taxes, it becomes more expensive for companies and companies relocate to another part of the world where it is cheaper. do you think there needs
the first 48 hours here have been frantic and today there has been a flurry of promises that should hypothetically make a difference but it is now the hard bargaining really starts. remember, borisjohnson wants a deal that keeps global warming within safe limits but here in glasgow right now, it is far too early to be sure if that s in reach. there will be clashes and arguments, different voices and different views. but borisjohnson cannot be sure what may greet him in glasgow if, at the end of this vast summit, he returns. laura kuenssberg, bbc news, glasgow. much of the challenge still revolves around money, finance from richer governments to help poorer countries, but also the need to entice corporate investment on a huge scale. mark carney is boris johnson s finance adviser for the conference, and he s been speaking to the bbc s christian fraser. we re increasingly going to see, though, as government policy toughens up, is clearer, fills in, like different words
to see, though, as government policy toughens up, is clearer, fills in, like different words for the same thing, about what s needed to get us to 1.5 degrees is companies will have to notjust say theoretically, this is what it will happen, but actually, i do have to write off some of those. we saw a tiny bit of that earlier, last year, about a year ago with some of the major oil companies, who wrote off some of the excess reserves thatjust don t make sense in a 1.5 degree world but it is a drop in the bucket thus far. one of the problems at the moment is what we call carbon leakage. you get territory like the eu who put the price up of carbon, carbon taxes, more expensive for companies, and then companies relocate to another part of the world where it is cheaper. do you think there needs to be thought about a global carbon price? i do think we need