Red, blue? Nah…let’s talk green
Screw elections. Besides, benevolent dictatorships is where it’s at anyway
I’m trying something different this week.
Thought I’d share my thoughts on a few news stories that may have slipped under the radar. Apparently, there’s been a big thing going on in the US which means news outlets have had very little time to focus on anything else the last few days.
Let me know what y’all think of this format. Good, bad – I want to hear it, warts and all.
It’s like Google Earth…but for Earth
A group of institutional investors, with a collective $2.1tr in AUM, are turning to satellite imagery to reduce their exposure to risk. Sounds a hoot, but it’s not quite as fun as trying to count the bird droppings on your neighbour’s roof, is it?
The mighty investor coalition, which includes Fidelity, Nomura and Aviva to name just a few, will use satellite technology to gauge companies’ progress on tackling deforestation in their supply chains. Through advanced data analytics and machine learning, they will be able to track changes in forest density and link that back to commercial activities.
Companies that fail to comply or make advancements risk may be given the chop.
Given the size of the positions these asset managers hold, the threat of them withdrawing investment should spark some positive action.
‘Build back greener’ – UK government announces a fresh wave of £180m funding for clean tech innovation
This follows a pledge made last month to invest £160m in offshore wind (which I wrote about here).
The money is part of the government’s coronavirus response, encouraging entrepreneurs to continue taking risks, simultaneously building back the economy stronger and reducing carbon emissions. The £180m will go towards more than 1000 projects, ranging from pothole repairing robots to compostable packaging made from seaweed.
On the face of it, the UK looks like it means business in the transition to a cleaner economy. The funding, however, is an order of magnitude smaller than government spending elsewhere (compare to the £35bn spent so far on furlough, which in many cases just delays the inevitable when it comes to redundancies).
Still, these represent steps in the right direction for realising net zero ambitions.
To turn steps into long strides, the government must ensure that there’s continued support (ie. more rounds of funding) in place for the ideas which show promise. This way it will support the long-term creation of jobs, whilst overseeing the transition to a greener economy.
US officially leaves the Paris Agreement…but Biden promises a swift return
A real emotional rollercoaster this one.
What does abandoning the Paris Agreement actually mean?
Well, if Biden wins – sweet eff all. He’s promised to rejoin on day 1 of his presidency.
And if a bullish Trump rises like a Phoenix from the ashes – which judging by Biden’s lead in Arizona is looking more unlikely by the hour – other countries, such as Brazil or Russia, may follow suit in leaving, leaving the accord in tatters. It’s not fun to be the global pariah, but when you’ve got company it’s a lot easier to deflect criticism.
We’re already at a damage limitation stage when it comes to confronting climate change. The ‘4-more-years’ of Trump scenario would be akin to having a shot of tequila when you wake up because ‘you can’t be hungover if you never stop drinking’. Logic, eh.
BONUS snippets:
‘Cos I spoil you
Lockdown got you feeling thirsty? Heineken’s got your back with some solar-powered beer
Sustainability is sexy – Estée Lauder reaches 100% renewable electricity for its global operations
And finally:
Ben & Jerry’s – yep, the ice cream maker – imagined how the UK’s biggest cities will look in 2100. Think carless streets, skyscrapers replete with communal gardens and solar panels everywhere. The goal is to inspire people to reflect on the future they want to see. As long as they still have cookie dough ice cream, I’ll be happy
Love the new format, but an occasional deep dive also appreciated. Good to mix it up?