Cameron Hepburn

"The time to move all of your investment flows – not half of them – is now"

Cameron Hepburn is a professor of Environmental Economics at the University of Oxford. He brings a wealth of insights to COP28, highlighting significant developments and challenges in the climate realm.  

Notably, he underscores the positive trajectory of renewable energy costs, particularly solar and battery technologies, which are reshaping the automotive industry. Despite these advancements, there is a critical need for public awareness and engagement in climate action, as global buy-in is essential for driving political and economic shifts towards net zero. There are significant psychological and operational hurdles faced by the fossil fuel industry, and Hepburn urges a faster transition to sustainable practices. 

Innovation, both scientific and social, plays a pivotal role in this transition. Hepburn emphasises breakthroughs in electrolysis and building technologies, while also noting the importance of changing policymakers’ perspectives to seize competitive advantages. The role of governments in levelling the playing field and reducing fossil fuel subsidies is critical, alongside the private sector's task of scaling up innovation. 

With multilateral development banks increasingly engaged, there’s momentum towards blending public, private, and philanthropic finance to drive climate solutions. Optimistically, Hepburn envisions a future where emissions decline and the full shift to renewable investments accelerates the necessary exponential change.