A tally of the winners and losers in a lower-carbon world

CLIMATE change is gaining traction as a global policy initiative, a key risk factor as well as an emerging investment theme.

It is prudent to appreciate the regulatory momentum behind it, as governments are moving to curb and, eventually, reduce greenhouse gas emissions, and regulators start to pay closer attention to standards and enforcement.

It took more than a century and trillions of dollars to build the current carbon-intensive economy. It will likely take decades to make a transition into a lower-carbon world. These efforts to mitigate climate change will produce winners and losers; yet, pinpointing winners and losers goes beyond emissions.