The Paris Agreement has sparked a transformation in the cost and competitiveness of low and zero-carbon solutions across the world economy, and this transformation is likely to get even faster over the next decade. Research from global consultancy Systemiq has found that, whilst virtually none of these technologies and business models were able to compete economically as recently as 2015, they are now competitive in sectors making up around a quarter of global CO2 emissions and projected to shoot up to be competitive in those comprising 70% of emissions by 2030.

What does this mean in practice? 35 million net new jobs for a start. And beyond that, growing competitiveness means falling costs and rising investment. Take solar power, for example: long derided as expensive and ineffective, the price of solar-generated electricity has plummeted by 89% in the last decade to become the cheapest form of power generation at a time when established fuels like coal are on the path to obsolescence.

The same is true of newer technologies like electric cars. What looked like a costly and inconvenient choice for most motorists even a couple of years ago will soon reach upfront price parity with diesel cars, with a greater range of models available and performance improving all the time.

This rapid change hasn't happened by accident, and the fact that it has is a major vindication of conservative approaches. Whilst government action has been important in creating frameworks and stimulating private investment, it is the free market that is delivering these changes quickly and efficiently, abandoning fossil fuels and financing the technologies of the future. When huge companies like BP, Pepsi and Apple pledge to achieve net zero emissions, they aren't doing it merely out of obligation to the environment, but because it makes sound business sense.