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Mobilizing Investors to Build a More Sustainable Global Economy
As the effects of climate change rise in prevalence, all facets of the global economy will be affected. In order to address many of the global environmental crises of today, such as biodiversity loss and extreme drought, entrepreneurs are looking into sustainable investment initiatives as a tool for change. Sustainable investing is a process that directs investment capital to companies and businesses actively working to prevent environmental destruction. Sustainable investments often follow an Environmental, Social, and Corporate Governance (ESG) framework, which seeks to promote socially conscious investments. Similar to Corporate Social Responsibility (CSR), which refers to a company’s commitment to operating ethically, ESG goes one step further in providing an assessable outcome of a company’s overall sustainability performance. Thus, ESG lays a foundation for investors in determining which corporations operate sustainably.
Current Climate of Sustainable InvestmentFrom 2021 to 2026, institutional investment in ESG projects is expected to increase by 84%. The World Economic Forum recently published a report noting that over $200 billion is required annually in order to meet adaptation and resilience investment targets, which is three times the current funding. Such investing in adaptation and resilience could reduce exposure to climate risks and yield financial benefits for stakeholders involved. Although climate financing is slowly on the rise, there remains minimal progress in climate-vulnerable and high-emission countries.
There are various types of sustainable investing, operating through registered investment companies, alternative investment funds and community investments. The US Sustainable Investment Forum identified 645 registered investment companies with $1.2 trillion sustainable investment AUM in 2022. Not only does sustainable investment cover private equity investments, but also cash, fixed income, and alternative investments. Sustainable investments, like conventional investing, receive a return on their investments. Reports from the Morgan Stanley Institute for Sustainable Investing found no financial trade-off between sustainable investing compared to traditional investment initiatives.
Does sustainable investing provide hope for the future?Investing in sustainable industry, infrastructure, and business has the potential to provide a more climate-proof economy for all. For private investors, effective investments in areas vulnerable to climate change could reduce disruptions in the supply chain, thereby boosting labor productivity and lowering operational costs. As such, companies will have the tools in place to be able to respond to vulnerabilities when they arise while still maintaining a profit. Additionally, ESG investing has been proven to provide downside protection during social or economic crises according to the NYU Stern Center for Sustainable Business. Such protection may be pertinent in a world more susceptible to the adverse effects of climate change. Many studies corroborate such findings; a meta-study conducted by Oxford University in 2015 revealed that 88% of companies with robust sustainability practices demonstrate better operational performance, translating into higher cash flows and positive effects on investment performance.
Greenwashing and ESG ConcernsOne concern within the world of sustainable investment is largely centered around the question of whether organizations will be willing to take more or less risk to achieve an impact. Companies that prioritize sustainability may be more volatile than traditional companies, creating fear around the uncertainty of consistent returns. Further, there is often confusion on how to make a good return on investment when choosing to invest in more socially responsible companies.
The rise of sustainable investment has brought about potential concerns related to greenwashing, in which a company’s ESG credentials or potential sustainability initiatives may be over-embellished, leading to falsified information. On the other hand, many investors prioritizing sustainable investment initiatives have received a surge in backlash against their new initiatives, mainly from Republican politicians. A recent study by The Conference Board revealed that 48% of surveyed businesses have experienced backlash to their ESG policies or activities, potentially deterring companies from further pursuing such initiatives. An increase in educational awareness is vital to inform investors of the benefits of sustainable investing and ways to do so responsibly amidst criticism.
Who is our guest?Kirsten Spalding leads the nonprofit Ceres Investor Network, which supports global investor initiatives such as Paris Aligned Asset Owners, Climate Action 100+, and Net Zero Asset Managers. Nonprofit advocacy organizations like Ceres Investor Network are at the forefront of promoting sustainable business practices through mobilizing investors to build a more sustainable economy. Kirsten holds a B.A. from Yale College in music, a J.D. from Hastings College of Law, and an M.Div. from Church Divinity School of the Pacific. For six years, she chaired the Center for Labor Research and Education, UC Berkeley and taught at the School of Law. She is an Episcopal priest, rector of the Church of the Nativity in San Rafael, CA, and an avid backpacker.
ResourcesCeres Investor NetworkAdaptation and resilience investment: How do we get the capital it needsSustainable InvestingSustainable Investing BasicsFurther ReadingCSR or ESG: Where Do Sustainability Frameworks Fit In?ESG and Financial Performance: Uncovering the Relationship by Aggregating Evidence from 1,000 Plus Studies Published between 2015 – 2020 Global Landscape of Climate Finance 2023Financial Performance With Sustainable Investing3 hurdles to sustainable investing — and how to overcome themFor a transcript of this episode, please visit https://climatebreak.org/sustainable-investing-for-a-climate-proof-economy-with-kirsten-spalding/
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What is carbon mineralization?
As defined by the U.S. Geological Survey, “carbon mineralization is the process by which carbon dioxide becomes a solid mineral, such as a carbonate…The biggest advantage of carbon mineralization is that the carbon cannot escape back to the atmosphere.” This generally occurs by injecting carbon dioxide underground into certain rock formations so the carbon dioxide takes on a solid form: trapped and unable to reach the atmosphere.
How does carbon mineralization work?
Two of the main methods in which carbon mineralization occurs are ex-situ carbon mineralization and in-situ carbon mineralization. With ex-situ carbon mineralization, carbon dioxide solids are transported to a site to react with fluids—like water—and gas. In-situ carbon mineralization is the opposite—fluids containing carbon dioxide are funneled through rock formations in which it solidifies. Both of these methods result in carbon dioxide trapped in a solidified form.
In a third method of carbon mineralization, surificial mineralization, carbon dioxide reacts with alkaline substances—such as mine tailings, smelter slags, or sedimentary formations—which result in the carbon dioxide taking on a solidified form. In the case of in-situ carbon mineralization or surificial mineralization, carbon dioxide can react with surface water rather than an artificial fluid, replicating natural processes of carbon mineralization.
Currently, the biggest drawbacks and barriers preventing carbon mineralization from taking hold as a major climate solution lie in cost and research uncertainties regarding environmental risks. In terms of cost, the price for carbon mineralization is high: 5 million dollars per well to inject carbon dioxide into rock formations. Further, the risks for groundwater and its susceptibility to contamination through this method is unknown, and the potential side effects of contaminating water formations could be devastating for ecological communities which thrive off of these water systems.
Who is our guest?
Dr. Rob Jackson is a professor and senior research fellow at Stanford University, and author of Into the Clear Blue Sky, a novel on climate solutions. His lab focuses on using scientific knowledge to shape climate policies and reduce the environmental footprint of human activities. Currently, he chairs the Global Carbon Project, an effort to measure and control greenhouse gas emissions.
Resources
USGS: U.S. Geological SurveyScienceDirect: A holistic overview of the in-situ and ex-situ carbon mineralization: Methods, mechanisms, and technical challengesNational Center for Biotechnology Information: Negative Emissions Technologies and Reliable Sequestration: A Research Agenda.Frontiers: An Overview of the Status and Challenges of CO2 Storage in Minerals and Geological FormationsFurther ReadingThe New York Times: How Oman’s Rocks Could Help Save the PlanetClimate Break: Rerun: Using Concrete for Carbon Removal with Dr. Erica DoddsFor a transcript, please visit https://climatebreak.org/carbon-capture-mineralization-with-dr-rob-jackson/
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Methane in the Atmosphere: A Serious Risk
Many of the solutions we often hear about when it comes to reducing greenhouse gas emissions revolve around reducing carbon emissions, as carbon dioxide (CO2) is the primary greenhouse gas emitted by human activities. Methane, however, is the second most common greenhouse gas, emitted through agricultural practices, landfill waste, coal mining, and oil and gas operations. While methane generally receives less attention than carbon dioxide when it comes to climate solutions, recent studies have shown that it is a more potent greenhouse gas than carbon dioxide. According to the United Nations Economic Commission for Europe, methane has a global warming potential 28-34 times higher than CO2 upon emission, which increases to 84-86 times over a 20-year period.
How does methane enter our skies?
The concentration of methane in the atmosphere has more than doubled over the past century. Both everyday infrastructure in older cities and major leaks at oil and gas fields add to the quantity of methane into the atmosphere. As for the source of these leaks, they are largely caused by equipment failures or faulty pipes and vessels. 2,595 gas incidents have been reported in the US from 2010 to 2021, adding up to 26.6 billion cubic feet of methane gas emitted. Methane impacts both the climate system and public health; breathing methane can cause damaged airways, lung diseases, asthma attacks, increased rates of preterm birth, cardiovascular morbidity and mortality, and heightened stroke risk.
What can we do?
Mining operations can be improved to reduce methane leaks and oil and gas operations can greatly reduce emissions throughout the system. As our tools of measurement and technology improve, the world has realized the greater need to attack methane emissions, which led to the Global Methane Pledge in 2021. In this pledge, 158 countries and the EU pledged to make a distinct effort to reduce global methane emissions by at least 30 percent from 2020 levels by 2030.
Part of reducing methane emissions involves switching from fossil fuels to electricity generated from renewable sources. According to Environmental specialist and Stanford professor Dr. Rob Jackson, our skies will become cleaner once we switch to cleaner, electrical energy sources, including electric heat pumps to cool and heat our homes, electric water heaters, and especially electric stoves. According to the Journal of Environmental Science and Technology, methane emissions from gas stoves in America—when scaled to the 20-year global warming potential of the gas—were “comparable to the carbon dioxide emissions of approximately 500,000 gas-powered cars.” Health-wise, a study conducted by Stanford’s Doerr School of Sustainability and PSE Healthy Energy found that “children who live in homes with gas stoves had a 24% higher risk of lifetime asthma and a 42% increased risk of having asthma currently.” Dr. Jackson says that making the switch to induction stoves is not only energetically cleaner and prevents the likelihood of gas leaks, but it also prevents us from being exposed to toxic pollutants such as nitrogen oxides and benzene gasses that come from gas stoves.
Some potential drawbacks: the cost of electricity
While induction stoves and a cleaner, electrical society sounds optimal, there are some challenges and barriers to making this a reality. First of all, not every person can afford to implement an induction stove and replace their functioning gas stove, as home renovations, rewirings, and big purchases such as a new stove cost a great deal of money. In this way, income inequality plays a major role in the way climate change impacts different people in society. Dr. Jackson uses the example of a person living in a lower-income community; surrounded by older, poorly-maintained appliances, people in these types of homes often breathe dirtier air indoors than outdoors. This is why Dr. Jackson proposes that the shift to clean energy be gradual; fueled by regulations and government support. Without social support, equal access to cleaner energy cannot be achieved.
In terms of major gas leaks, change is hard to make as an individual. According to the Environmental Defense Fund, the best thing we can do is to fight for national policy to repair and prevent leaks wherever they occur: whether at mining facilities or under our sidewalks. This is a difficult task, as all individuals can do is push for political action, however agreements such as the Global Methane Pledge seem to be steps in the right direction.
Who is our guest?
Dr. Rob Jackson is a professor and senior research fellow at Stanford University, and author of Into the Clear Blue Sky, a novel on climate solutions. His lab focuses on using scientific knowledge to shape climate policies and reduce the environmental footprint of human activities. Currently, he chairs the Global Carbon Project, an effort to measure and control greenhouse gas emissions.
ResourcesUS Environmental Protection Agency: Overview of Greenhouse GasesUNECE: The ChallengeMIT Technology Review: Methane leaks in the US are worse than we thoughtPIRG: Methane Gas LeaksEnvironmental Defense Fund: How Methane Impacts HealthGlobal Methane Pledge: About the Global Methane PledgeJournal of Environmental Science and Technology: Methane and NOx Emissions from Natural Gas Stoves, Cooktops, and Ovens in Residential HomesAmerican Chemical Society Publications: Gas and Propane Combustion from Stoves Emits Benzene and Increases Indoor Air PollutionEnvironmental Defense Fund: How to stop natural gas leaksFurther ReadingThe New York Times: Did I Turn Off the Stove? Yes, but Maybe Not the GasFor a transcript, please visit https://climatebreak.org/identifying-and-fixing-natural-gas-leaks-in-cities-with-dr-rob-jackson/
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Impacts of Heat Waves on Human Health
Across the United States, climate change is increasing the frequency and intensity of heat waves. A heat wave is defined as a persistent period of high temperature days. Although unusually hot days are a natural part of day-to-day variations in weather, heat waves are becoming more common alongside the rapidly accelerating climate crisis. In major cities across the country, the number of heat waves has increased steadily, from two heat waves per year in the 1960s to six per year into the 2010s and 2020s. In the 1960s, the average heat wave was 2.0 degrees above the local 85th percentile threshold, while the average heat wave during the 2020s has been 2.5 degrees above the local threshold. Approximately 210 million Americans, or two thirds of the population, live in counties vulnerable to health threats from high temperatures. As temperatures increase, the number of heat-related illnesses, emergency room visits, and deaths simultaneously increase. As we head further into the 21st century, adaptive measures to protect human health from the effects of extreme heat waves will be necessary in the face of rising climate risk.
Protecting yourself during extreme heatOver the past three decades, heat waves have been the leading cause of weather-related fatalities across the nation. In addition to rising heat-related illnesses and deaths, extreme heat can also worsen health outcomes from chronic conditions such as cardiovascular disease, respiratory disease, and acute kidney injury. Extreme temperatures compromise the body’s ability to regulate its internal temperature, resulting in illness, heat cramps, heat exhaustion, heatstroke, and hyperthermia. Individuals living in densely populated cities are extremely vulnerable to the urban heat island effect, which exacerbates high heat temperatures as man made surfaces absorb sunlight during the day and radiate the stored energy at night as heat. Children, the elderly, people experiencing homelessness, low-income communities and individuals with pre-existing health conditions are at the greatest risk to the adverse effects of extreme heat. As temperatures continue to rise, it is necessary that individuals take on adaptive measures to protect themselves from the health risks posed by extreme heat.
Action can be taken on both a policy and an individual level. Local governments can take steps to help residents reduce their vulnerability to heat through heat management plans and vulnerability assessments. For example, officials can create early warning systems and urban cooling centers for individuals to find refuge. On an individual scale, when you need to go outside, taking preventive measures such as sun protection, hats, and umbrellas is vital to stay cool. Trying to stay inside as much as possible and finding refuge from the heat will help one avoid the risks of heatstroke. More educational initiatives will be vital in informing individuals on risk factors, symptoms, and treatment steps to keep people safe and informed.
Benefits of protecting oneself during extreme heatDuring periods of extreme heat, it is important to take proper care of yourself in order to mitigate the health effects that result from high temperatures such as dehydration, heat stroke, exhaustion, and slowed cognitive function. Taking extreme heat seriously is vital, as the effects of extreme temperatures can be as serious as sudden events like heart attack or stroke. Prolonged periods of heat and humidity make your body work extra hard to maintain a normal temperature, so taking such precautions is necessary to protect yourself and your loved ones. As extreme heat-related weather events become more common, becoming accustomed to the ways you can keep yourself safe is imperative in a warming world.
More progress can be madeIf we fail to take adaptation measures on both an individual and policy level, we will be unprepared to respond to the impacts of extreme heat. As extreme heat rises in prevalence, more awareness on the ways to respond to increasingly high temperatures can help individuals adapt to such events. Currently, heat is already the weather phenomenon that kills the most people in the United States, so taking care of yourself, family, and neighbors during heat waves is essential to saving lives. For residents who do not have the resources or cooling systems in place to seek protection during a heat wave, the use of cooling centers in cities can provide short-term relief. Important to note, however, is that the increased use of cooling systems will heighten electricity costs due to increasing demand, thereby generating more greenhouse gas emissions from rising power generation. If leaks are to occur, concerns can also arise around the potential release of potent refrigerant gasses, which worsen climate change and damage the ozone layer. This creates a self-perpetuating cycle in that air conditioning is used to treat extreme temperatures, but effectively worsens the climate crisis in doing so. More innovative solutions will be necessary to curtail emissions while keeping individuals safe. Beyond individual actions during times of crisis, cities also need to help their residents respond to rising temperatures in the long-term by redesigning public spaces, planting trees to provide cooling, painting rooftops white to repel sunlight, and incorporating new cooling technologies in buildings and homes.
About our guestDr. David Sklar is an Assistant Dean at the Arizona State University School of Medicine and Advanced Medical Engineering, is a Professor at the ASU College of Health Solutions and works as an emergency physician. Former Editor in Chief of Academic Medicine, Dr. Sklar now works as a senior advisor in health policy and health professions education at ASU Health. Dr. Sklar works to increase awareness on mitigative steps individuals can take to decrease their health risks from extreme heat events.
ResourcesIndiana University: Adaptation strategies for extreme heat and public healthNRDC: Climate Change and Health: Extreme HeatEPA: Climate Change Indicators: Heat WavesWHO: Heat and HealthNIH: Temperature-related Death and IllnessFurther ReadingPenn State: Climate-driven extreme heat may make parts of Earth too hot for humansArch Daily:How to Adapt Cities to Extreme HeatWhite House: Planning Tools for Combatting Extreme HeatFor a transcript, please visit https://climatebreak.org/staying-safe-in-extreme-heat-with-dr-david-sklar/
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The Current State of US Energy Consumption
The United States consumes vast amounts of energy and spends enormous amounts of money every year to fuel our economy, business, and lifestyle. The US accounts for 4% of the world’s population, yet uses 16% of the world’s total energy. The production and consumption of energy are major drivers of global climate change, hazardous air pollution, habitat destruction, and acid rain. In 2022, US consumers spent $1.7 trillion on energy, amounting to around 6.7% of GDP. Annual energy costs were $5,159 per person in 2022, a 30% increase from 2021. In order to mitigate the large-scale impacts of excessive energy consumption, policymakers are calling for an urgent restructuring of the energy system through increasing efficiency. Energy efficiency is the use of less energy to perform the same task or result, often being achieved through more efficient heating and cooling systems, manufacturing facilities, and appliances and electronics. Simply, energy efficiency reduces the amount of energy required to provide products and services. Many lower-income households are burdened by rising electricity costs and increasing risks from extreme weather events but do not have the resources to fund energy-efficient systems in their homes. To address this disparity, new energy efficiency standards for affordable housing are being developed in order to lower costs and improve climate resilience for households unable to afford high energy prices.
Current Initiatives in the USThe Biden Administration has taken a lead in issuing new minimum energy standards for homes built with federal dollars in an attempt to save costs for renters and homeowners. The US Department of Housing and Urban Development (HUD) and the USDA announced the adoption of the Minimum Energy Standards for new single and multi-family homes. The standards are expected to decrease cost expenditures for residents, reduce energy use and pollution, improve resident health, and increase resilience in extreme weather events. The adoption of such energy standards will incorporate cost-saving insulation, air sealing, and efficient windows, lighting, heating and cooling systems in HUD and USDA supported properties to decrease energy bills for families. It is projected that energy efficiency improvements of 37% will decrease energy costs by more than $950 a year for homeowners. Overall, minimum energy standards are projected to expand housing affordability, minimize health risks, and improve resilience of homes during extreme weather.
Advantages of energy efficiency standardsEnergy efficiency can increase affordability and reliability for homeowners by reducing total energy demand and peak electricity demand. Peak electricity demand is the highest demand for electricity at any one point in time, which utilities are required to have the capacity to meet. Peak demand is driven by patterns of energy use in the market, with most production occurring in the afternoons. Energy efficiency programs utilize a demand-side management (DSM) strategy to reduce energy demand specifically during these high-volume, peak hours. For homeowners, energy efficiency improvements are cost-effective as they can lower utility bills by reducing the amount of power needed. Further, energy efficiency can decrease our reliance on fossil fuels and enable the growth of renewable energy, thereby decreasing GHG emissions. Updated minimum energy standards are expected to reduce 6.35 million metric tons in carbon emissions over the next three decades, generating an annual cost savings of $13.9 million. Energy efficiency also spurs the creation of new jobs in research, production, installation, and sales. In 2022, more than 2.1 million Americans worked in energy efficiency, with this only growing as we transition to a greener economy. There are many social, economic, and environmental advantages that come alongside transitioning towards an energy-efficient economy,
Drawbacks in achieving energy efficiencyAlthough there are many advantages to achieving energy efficiency, there exists roadblocks in achieving the current goals being set. First, innovative technologies rely upon very specialized knowledge, requiring expert research in the field. As well, a large concern in the development of these technologies are the significant upfront costs, through initially high levels of investment in research and development. For projects that are just starting up, it can be difficult to secure funding, potentially leading businesses to solely focus on short-term goals. On the consumer side, there may be a lack of acceptance or awareness of these new technologies prohibiting their take up in the market. To achieve universal acceptance, technologies must attain the energy savings and functionality that consumers expect. Scaling up these technologies can be time-consuming and labor-intensive, requiring complex supply chain logistics, techniques, and manufacturing. Government policies, such as the new energy efficiency standards for lower-income households, will be vital in encouraging innovation and investment to accelerate this transition.
Who is our guest?Mark Kresowik, Senior Policy Director at the American Council for an Energy-Efficient Economy, is a strong advocate for centering marginalized communities in policies that work to improve energy efficiency. Mark works to shape local, state, utility, and federal-level policies across the country.
ResourcesUSAID: From the American People, Energy Efficiency BasicsOffice of Energy Efficiency & Renewable Energy: Energy Efficiency: Buildings and IndustryCase Western Reserve University: Energy-Efficient Building Technologies: Challenges and OpportunitiesNatural Resources Defense Council (NRDC): Lora Shinn, Energy Efficiency: The Clean FactsU.S. Department of Housing and Urban Development: New Update: HUD and USDA Announce Adoption of Minimum Energy Standards that will Lower Monthly Costs for Homeowners and RentersCenter for Sustainable Systems: U.S. Energy System Factsheet (University of Michigan)Further ReadingU.S. Department of Housing and Urban Development: Minimum Energy StandardsU.S. Department of Housing and Urban Development: Minimum Energy Standards FAQsUS Housing Consultants: HUD and USDA Announce Adoption Cost-Lowering Minimum Energy StandardsFor a transcript of this episode, please visit https://climatebreak.org/standardizing-energy-efficiency-with-mark-kresowik/.
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Staying Educated About Climate Change
As climate change intensifies, the heightened frequency of natural disaster weather-related events is quickly becoming the new reality. Whether it be prolonged wildfire seasons in Northern California or destructive hurricanes off the Florida coast, citizens across the country are beginning to bear the burden of a changing climate. For those of us yet to experience the full force of such events, our primary means of gathering information on natural disasters is through the media. Without the media’s coverage of extreme climatic events, it is difficult for people not directly impacted to be fully aware of the dangers of a changing climate. While climate change impacts more people every year, severe impacts still feel like an abstract, distant concern that may never affect them personally. In order to reframe this perception, climate storytelling, which includes steps for action and recovery, is becoming foundational towards building empathy in the wake of the climate crisis.
What is Climate Journalism?Climate journalism, the process of collecting and distributing accurate information on extreme weather events and climate change-related impacts, has been an essential element for informing the public about the effects of a changing climate. Following Al Gore’s 2006 documentary, An Inconvenient Truth, climate journalism increased by 1,000 percent in the media from the year 2000. This increase in viewership is most likely attributed to the rise of ethical concerns relating to the climate crisis as more people began to suffer the effects of natural disasters. The majority of Americans, approximately 54%, now identify climate change as a major threat to the country’s well-being. Media Matters found that news and morning shows such as ABC, CBS, NBC, and Fox spent a total of around 23 hours discussing climate change in their annual 2022 reporting. Unfortunately, climate coverage still only accounts for around 1% of corporate broadcasting, even though the climate crisis is rapidly worsening.
Keeping the Public Aware and PreparedClimate journalism not only raises awareness for the public, but can provide steps for change in combating one of the most pressing issues of our time. People need accurate information in order to make informed decisions. Strong, reliable reporting can provide citizens and policymakers the information needed to prepare for and adapt to the potential impacts climate change brings. Climate journalism can offer hope to the public, providing people with the voice and power to make a difference. By including climate change in the media, people can begin to see the incoming reality of this crisis, inspiring citizens to take action.
The Struggles of Climate CoverageUnfortunately, there remain many obstacles that hold back media organizations from prioritizing climate coverage. Climate-related disasters can be hard to access, difficult to watch, and politically polarizing. Media outlets may struggle to gain large viewership, deterring them from covering climate events. Further, the various approaches to climate journalism can create discrepancies in the type of media coverage disseminated. For example, should climate topics be covered locally or nationally? What solutions should climate journalism focus on? Such a broad scope may distract from the realities currently being faced. Unfortunately, media coverage of environmental issues still only occupies a very small proportion of total media. There remains a need for increased resources, strategies, and investment in climate and environmental journalism. Further, many major news outlets publish misleading promotional content for fossil fuel corporations, greatly impacting the opinions of viewers on such controversial issues. There are, of course, many examples of excellent climate change coverage. Our modest effort at Climate Break, as a small example, focusing on climate solutions and the wide variety of actions and initiatives being developed around the world, is designed to provide quick insights into climate solutions.
Who is Jonathan Vigliotti?Jonathan Vigliotti, CBS News correspondent, is just one example of the many climate journalists directly involved in the movement to inform the public on the effects of climate change. Vigliotti’s work as an environmental journalist has taken him to over forty countries and territories across six continents. Author of Before It’s Gone: Stories from the Front Lines of Climate Change in Small-Town America, provides personal insights into the everyday lives of Americans affected by climate change, presenting a compelling argument for the urgency of taking action now. Vigliotti believes that climate journalism has the power to spark change through the use of accurate, inspiring, and thought-provoking reporting.
Further ReadingShäfer & Painter, Climate journalism in a changing media ecosystem: Assessing the production of climate change-related news around the world (WIREs Climate Change 2020)MacDonald, How broadcast TV networks covered climate change in 2022 (Media Matters)Tyson et al., What the data says about Americans’ views of climate change (Pew Research Center, 2023)BBC, Why climate change should be at the heart of modern journalism (2023)For a transcript of this episode, please visit https://climatebreak.org/using-climate-journalism-to-connect-weather-events-and-climate-with-jonathan-vigliotti/
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What are “Resilience Hotspots”?
Technology and high-tech solutions are not the only responses to climate change. Nature can also be a powerful form of climate resilience. Resilience hotspots are small pockets of nature that, when restored and maintained, act as barriers to climate impacts. For instance, wetlands can insulate shores from storm surges and trees can provide shade in urban heat islands. In this way, climate adaptation can go hand-in-hand with integrating nature into our cities.
The Science of Nature-Based SolutionsWhile many natural areas can have climate benefits, wetlands and urban green spaces are particularly significant ecosystems in terms of climate adaptation. How do these natural protections from climate change work in the first place?
Wetlands are areas where the soil is saturated with water either seasonally or year-round. They often provide crucial protection from the heavy rainfall and storms, which are becoming more frequent and severe due to climate change. Acting as a sort of sponge, wetlands have the ability to absorb and temporarily store the excess water from these events. When a storm hits, wetlands are a “speed bump” to floodwaters, slowing and holding back storm surge and flooding that otherwise causes damage to nearby cities and towns. According to NOAA, such protection by wetlands saves US coastal communities a whopping $23 billion a year. In many areas of the US, wetlands have been degraded by nearby urbanization or drained for development, leaving these areas more vulnerable to storm surge and flooding. As a result, restoring wetlands has become a priority as a strategy to increase climate resilience in these areas.
Urban green spaces protect against a different climate impact: extreme heat. Because urban surfaces tend to be densely covered in heat-absorbing materials like asphalt or concrete, cities absorb a greater proportion of heat from the sun’s rays. This, combined with greater concentrations of greenhouse gasses in cities, leads to a situation where cities can be up to 20 degrees Fahrenheit hotter than nearby green spaces, a phenomenon known as the urban heat island effect. With the temperature increases associated with climate change, the heat island effect poses great risks for heat-related illness and death. Urban green spaces break up the dense cover of manmade material with parks, green roofs, and shade-providing trees, creating natural areas that reflect sunlight, take up greenhouse gas emissions and provide aesthetic and mental health benefits.
How to Build Resilience HotspotsSo how can we implement these nature-based climate solutions into our cities? The resilience hotspots approach uses a patchwork of crucial sites integrated into towns and communities. By focusing on places with great potential to mitigate climate damage, this approach promotes the benefits of nature-based solutions while working with the existing urban infrastructure.
In the San Francisco Bay Area of California, for example, existing wetlands have the potential to store water and reduce storm surge during storm events if they are enhanced, thereby protecting a great number of low-lying urban places. Greenbelt Alliance has identified eighteen key areas across the Bay Area that have great natural potential to mitigate climate damages and are located in or near communities that will bear greater impacts from climate change. Working with community partners, they plan and implement restoration projects that enhance the ecosystem and increase resilience.
Equity also plays an important role in designing resilience hotspots. A process that involves community organizations in the restoration of their environment integrates local expertise and insights and can promote equitable outcomes. By combining science and equity, restoration, equity and resilience can operate collectively. Resilience hotspots can be a natural tool for mitigating climate damages and for advancing climate justice.
About our GuestSadie Wilson is the Director of Planning and Research at Greenbelt Alliance, where she manages resilience hotspots work and advocates for climate smart planning and policy. During her Masters in City and Regional Planning at UC Berkeley, she contributed to research at many Bay-Area focused institutions including the San Francisco Bay Conservation and Development Commission, The Center for Cities and Schools, and The Terner Center.
Further Reading
Greenbelt Alliance, About the Resilience HotspotsNOAA, Coastal Wetland BenefitsCBS News, Quick Explainer on Urban Heat IslandsEPA, How Inequity affects Heat IslandsQuaranta, Dorati & Pistocchi, Economic Benefits of Urban Greening (Scientific Reports, 2021)Greenbelt Alliance, Read some of Sadie’s workFor a full transcript of this episode, please visit https://climatebreak.org/resilience-hotspots-natures-role-in-urban-climate-adaptation/
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Induction-Range Stoves:
Gas stoves have recently been in the news as a source of harmful pollutants in the home and generators of greenhouse gas. The adoption of energy-efficient induction-range stovetops could offer a solution. Induction cooktops use electromagnetism to generate heat from directly within cookware, preventing the levels of energy loss seen in conventional gas or electric cooktops. The U.S. Consumer Product Safety Commission is not coming for anybody’s gas stove, despite a recent frenzy over concerns of bans on gas stovetops, so cooks around the country can pick the stove tops of their choosing. But as a handful of journalists have pointed out, the notion that gas stove tops are better for cooking than electric, really a matter of opinion, could have something to do with advertising investments by the American Gas Association. In fact, many chefs actually prefer induction cooktops to gas, and their environmental benefits are substantial.
Induction stoves contain an electromagnetic coil that generates a magnetic field when turned on. That magnetic field creates metallic resistance from compatible cookware, generating heat from within itself. Conversely, conventional gas and electric stoves transfer heat to pots and pans through a flame or electric coil. In that heat transfer, energy is lost. Induction has an energy efficiency of 85%. Electric stoves and gas stoves are 75-80% and 32% energy efficient, respectively, making gas the least energy efficient stove type. Across the United States, only about 32% of households use gas ranges, but in some states, like California, the number is closer to 70%. Energy Star estimates that a widespread shift to induction ranges would collectively save the United States over $125 million in energy costs and over 1000 GWh of energy.
Plug-in Induction-Range Stoves:
While Induction stoves are highly energy efficient, and can save consumers money on their energy bills, the upfront cost can be significant. According to Consumer Reports, a typical induction stove can range from roughly $1000 to $4000. Their installation can sometimes require upgrades to the home’s electrical wiring, which can add additional cost and complicates the process. Battery-powered induction-ranges like those in production by Channing Street Copper Company can be plugged in directly to standard electrical outlets. Plug-ins remove the complication of updating electrical panels or installing special high-voltage outlets, but they can be more expensive, costing consumers roughly $6000. However, a purchase of a standard induction or plug-in induction range may qualify consumers for rebates at federal and local levels.
Sam Calisch is an engineer and scientist working on decarbonization and electrification. He is the co-founder of Channing Street Copper, where he leads technology development.
For a transcript, please visit https://climatebreak.org/an-induction-range-no-rewiring-required/
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Climate Change and Anxiety: Some Data
Climate or “eco” anxiety refers to people feeling distressed about climate change and its impacts on our ecosystems, the environment, and human health and well-being. It is rooted in a deep existential dread concerning the future of the planet. Symptoms include feelings of grief, loss, anger, sadness, and guilt, which in turn can cause jitteriness, nervousness, increased heart rate, shallow breathing, difficulty concentrating, changes in appetite, or insomnia due to worry or concern about the effects of climate change.
According to Grist, Google searches for “climate anxiety” soared by 565 percent in 2021. And according to the Yale Program on Climate Change Communication, an all-time high of 70 percent of Americans express worry about climate change. In September 2021, the largest study of its kind found that the climate crisis was causing widespread psychological distress for young people between the ages of 16 and 25 across 42 countries from both the global North and South. Over 45 percent of teens and young adults said that climate anxiety was affecting their daily lives and ability to function; 56 percent said they thought that "humanity is doomed" and nearly 4 in 10 said that they were hesitant to have children because of climate change.
From Solastalgia to Soliphilia: how Native American Ecology can lead the wayThe steps people must take to address their climate anxiety depends on each individual, as people are affected by climate change in different ways. For example, some people have lost homes or even loved ones, while many others have witnessed these catastrophic events unfold on their phone screens.
Dr. Melinda Adams describes this trauma as “solastalgia,” originally coined by Australian philosopher Glen Albrecht to describe the distress caused by the destruction or loss of one’s home environment. This concept helps people to understand and express the “psychoterratic,” or the relationship between human mental health and the earth’s own well-being. Many have taken legal and political action to deal with their solastalgia. For example, last year Montana youths sued the state for its failure to recognize that approving fossil fuel projects was unconstitutional without further review of the impacts to the climate. Others have drastically altered their lifestyles, opting instead to practice underconsumption to limit their personal contributions to the changing climate.
Dr. Adams has another solution, reminding those who suffer that the definition of solastalgia also includes hope. Hope can lead us either into action or ecoparalysis. It is within this framework that Dr. Adams introduces Native American cultural burnings as a way to achieve soliphilia, “the political affiliation or solidarity needed between us all to be responsible for a place, bioregion, planet, and the unity of interrelated interests within it.’’
Cultural fires or “good fires,” which involve lighting low-intensity fires to heal the surrounding ecosystem, can exemplify this step. Not only do these fires restore degraded soils, decrease vegetation or fuel overgrowth, encourage re-vegetation and biodiversity, but they also deepen the spiritual ties people have to the land they inhabit. Fire therefore has a regenerative power, both spiritually and ecologically, as participants share stories and strengthen communal and spiritual bonds with one another during these ceremonial burnings. As a member of the N’dee San Carlos Apache Tribe, Dr. Adams takes Glen Albrecht’s theory of the “psychoterratic” and frames it as a relationship between siblings. Subsequently, as siblings, humans and the land must help each other survive. By treating the earth as a more-than-human sibling, and by practicing cultural burns, participants can begin to heal from their solastalgia.
Directly engaging with a regenerative process such as “good fires,” “grounds people’s intentions and allows for deeper connections—to place and among one another.” “[C]eremonial fires create opportunities for social, environmental, and cultural healing among young persons (Native and allied)” (Tom, Adams, & Goode at 3). Essentially, the strengthening of community through spiritually uplifting activities alleviates climate anxiety by showing young people that there are people out there who share their concern for the climate and are motivated to do something about it.
Who is our guest?Dr. Melinda Adams is a member of the N’dee San Carlos Apache Tribe and an Assistant Professor in the Department of Geography and Atmospheric Science at the University of Kansas. A cultural fire practitioner and scholar, her research focuses on the revitalization of cultural fire with Tribes in California and more recently with Tribes in the Midwest. Her work with Indigenous communities combines environmental science, environmental policy, and Indigenous studies methodologies. Read more about Dr. Melinda Adams here.
ResourcesCornell University: Climate Change & Eco-AnxietyIt’s Not Just You: Everyone is Googling Climate Anxiety (Salon)Leiserowitz et al., Dramatic Increases in Public Beliefs and Worries About Climate Change (Yale Program on Climate Change Communication)Hickman et al., Climate anxiety in children and young people and their beliefs about government responses to climate change: a global survey (The Lancet Planetary Health)Tom, Adams, and Goode, From Solastalgia to Soliphilia: Cultural Fire, Climate Change and Indigenous Healing (Ecopsychology)Further reading UC Davis: Melinda Adams: Flame KeeperClimate Designers: Podcast: Deep Dive with Dr Melinda Adams: Solastalgia & Soliphilia Yale: Yale Experts Explain Climate AnxietyFor a transcript of this episode, please visit https://climatebreak.org/how-native-american-ecology-can-tackle-climate-anxiety-with-dr-melinda-adams/.
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Wildfires and climate change: a brief overview
North America is no stranger to wildfires. As of August 15, 2024, 29,917 fires this year have burned more than 5.2 million acres, according to the Center for Disaster Philanthropy. While this year’s number of wildfires is below the annual average of 35,691, the yearly acres burned is above the average of 3.8 million acres of the past 10 years.
While wildfires are a naturally occurring phenomenon, their frequency is heavily influenced by climate change, especially on the west coast of the United States. Wildfire risk increases depending on a number of factors, including temperature, soil moisture, and the presence of trees, shrubs, and other fuel. Additionally, climate change dries out organic matter or “fuel” in forests, resulting in a doubling of the number of large fires between 1984 and 2015 in the western United States. As climate change creates warmer and drier weather conditions, wildfires will likely become more frequent; studies show that an average annual warming of one degree celsius would increase the median burned area per year by as much as 600 percent in some types of forests.
Ultimately, as temperatures warm globally and drier conditions ravage the country, these fires will spread farther and become harder and harder to extinguish.
“Good” fire: an ancestral solution to our wildfire problemAs the planet warms, many have turned to ancient methods to mitigate the effects of climate change. Notably, Dr. Adams borrows the concept of “good” fires from Native American cultural fires practices, where low intensity fires are lit to heal the surrounding ecosystem. In order to positively change the public’s relationship with fire, fire agencies in California and Native American tribes have started using this term. Generally, “good” or cultural fires not only restore degraded soils and decrease vegetation or fuel overgrowth, but also deepen the spiritual ties people have to the land they inhabit. Specifically, good fire increases organic matter, keeps soil surfaces vegetated through the regrowth of plants, and encourages biodiversity.
In California, many ecosystems rely on fire for its regenerative powers. Dr. Adams notes that fire connects to water, soil health, and the health of animals and surrounding areas. It can also mitigate invasive species growth and eliminate harmful pests that are killing a lot of trees, making them more susceptible to catching fire and starting larger forest fires. As a result, fire promotes many benefits for ecosystem health.
Dr. Adams writes that as a member of the N’dee San Carlos Apache Tribe, she maintains a sacred attachment to the land, and believes that humans and the Earth are relatives. Subsequently, as siblings, humans and the land must help each other survive. Following these teachings around our relationship to more-than-human sibling and reciprocity, “good” fire participants can achieve “futurity” (intergenerational exchanges) that will safeguard future protection of the environment and human communities. Listening to these Native American Traditional Ecological Knowledge (TEK) could lead the way to developing a more sustainable relationship to the planet and, in doing so, mitigate the effects of climate change.
Mother Earth: how climate matriarchy can save the planetThe concept of “good” fire stems from Indigenous Matriarchal Ecology. Many Native American tribes are matriarchal, such as the Cherokee and the Navajo. Applying traditionally “matriarchal” values such as care, tenderness, and love to environmental conservation could be an effective climate change solution. Inclusivity and the centering of Indigenous women’s knowledge can also allow opportunities to enhance plant and soil health, remediation, and rematriation of the quality of our plant and soilscapes to provide a prosperous support structure that enables ecosystems to thrive.
By practicing Indigenous Matriarchal Ecology, cultural fire participants can collectively start seeing the Earth as a Mother: one who gives life and receives it in return. This is why Dr. Adams and her colleagues focus on the role the soil can play in the fight against climate change through the practice of Matriarchal Ecology. Dr. Adams writes that applying a soil health approach to ecology in tandem with cultural fires can play an important role in climate mitigation by storing carbon and decreasing greenhouse gas emissions. By restoring degraded soils and adopting soil conservation practices, such as cultural fire and Indigenous Matriarchal Ecologies, “good” fire practitioners can enhance the Earth’s carbon sequestration capacity and build resilience to climate change. Furthermore, these soil improvements on formerly mined and degraded lands could make soilscapes more resilient to erosion and desertification, while maintaining vital ecosystem services. And hopefully, these practitioners can inspire others, non-Native and Native alike, to develop a better understanding of and relationships with the planet.
Indigenous Matriarchal Ecologies can highlight the positive effects of cultural fire on environmentally degraded soils, while simultaneously building native plant and soil resilience toward climate and cultural futurity that all communities can enjoy.
Who is our guest?Dr. Melinda Adams is a member of the N’dee San Carlos Apache Tribe and an Assistant Professor in the Department of Geography and Atmospheric Science at the University of Kansas. A cultural fire practitioner and scholar, her research focuses on the revitalization of cultural fire with Tribes in California and more recently with Tribes in the Midwest. Her work with Indigenous communities combines environmental science, environmental policy, and Indigenous studies methodologies.
ResourcesCenter for Climate and Energy Solutions: Wildfires and Climate ChangeCalifornia Native Plant Society: Native Plants and Climate Change: Indigenous Perspectives Further reading UC Davis: Melinda Adams: Flame KeeperClimate Designers: Podcast: Deep Dive with Dr Melinda Adams: Solastalgia & SoliphiliaFor a transcript of this episode, please visit https://climatebreak.org/regenerating-our-ecosystems-with-good-fire-with-dr-melinda-adams/.
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Climate change and household financial well-being
The increase in climate-related disasters, such as floods, wildfires, and heat waves, has created serious financial burdens on households across the country. Since 1980, the world has seen a fivefold increase in the number of billion-dollar natural disasters. 2018 to 2022 alone saw an estimated $617 billion in damages from climate and weather related events. Beyond the public health and safety concerns, these disasters have hit Americans in the pocketbook. An estimated 13% have reported facing severe economic hardship following such disasters, with this number projected to rise as climate extremes become more frequent. For particularly vulnerable households, high financial costs from disasters can further exacerbate existing inequities. In order to adapt to a changing world of more frequent climate catastrophes, policy makers will need to develop solutions to assist populations in disaster recovery.
Solutions to climate-related financial disasterThe impacts of climate-related disasters are numerous. In addition to harming businesses and infrastructure, extreme weather events can lead to worker displacement, job loss, and migration. Catastrophic climate events, known as climate hazards, create financial strain on households from damage done to one’s property. Many households may not have the immediate resources or savings needed to repair the damage, leading to long-term displacement and financial instability. Healthcare costs, transportation expenditures, and inability to access proper insurance coverage are other burdens many individuals face following a natural disaster.
Low-income communities will face the brunt of climate change impacts. By understanding the historical inequities that have pushed marginalized communities into regions particularly vulnerable to climate change, policy makers can create more equitable outcomes. Many officials are now encouraging increased access to education, “democratized” climate decision making, and new ways to engage and empower people to take a stance in decisions about the climate.
The US Department of the Treasury further suggests that households consider utilizing government incentives to adopt climate-resilient property modifications, such as tax credits and rebates for energy-efficient home improvements. Policymakers further plan to support financial well-being by assisting households in financial resiliency efforts with programs through the Federal Emergency Management Agency (FEMA) and U.S. Small Business Administration (SBA).
Advantages of improving financial stability following a climate disasterInitiatives designed to address vulnerable communities affected by climate disasters can assist in adaptation towards climate extremes. Having access to resources, whether political or social, is key to providing impacted communities with the support they need to adapt to a changing environment. With increased educational awareness and government assistance, households facing financial distress and instability following a climate-related event will have the support they need to recover.
Setbacks to achieving financial stabilityIn order for these goals to be realized, policy makers will need to overcome significant challenges. For example, many households across the country face underinsurance, as climate extremes become more common and push insurers to raise rates or pull out of the insurance market altogether. As a result, vulnerable regions may be left without the proper resources to recover. A recent report found that policies for 39 million properties (about a quarter of all homes in the US) are under-priced for the climate risk needed to insure those properties. Without insurance coverage, homeowners are unable to fix damaged property.
Furthermore, the most severe effects of climate change disproportionately affect socially vulnerable populations. Less than 60% of single-family homeowners living in areas where mandatory flood insurance is required actually have the necessary insurance. As such, policy makers need to pay more attention to those communities most vulnerable to climate change in order to ensure they have access to the insurance needed to recover from a disaster and achieve financial stability following a climate-related event.
Dr. Andrew Rumbach, Senior Fellow in the Metropolitan Housing and Communities Policy Center at the Urban Institute, studies household and community risk to natural hazards and climate change. Dr. Rumbach is involved in the policy implementation and research of numerous federal and state-declared disaster events and is on the forefront of addressing disaster vulnerability and environmental risk.
ResourcesNBC: Climate change could impose ‘substantial financial costs’ on U.S. household finances, Treasury warnsWorld Bank: Social Dimensions of Climate ChangeUS Treasury: The Impact of Climate Change on American Household FinancesUS Treasury: Fact Sheet: The Impact of Climate Change on American Household FinancesFurther ReadingBBC: Climate change is fuelling the US insurance problemFor a transcript of this episode, please visit https://climatebreak.org/including-marginalized-communities-in-policy-decisions/.
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A New Sustainable Culture
Through the rise in pop culture, climate change awareness has increasingly been integrated into the entertainment industry. Particularly in the Black community, multimedia cultural campaigns are used to increase interest in environmental movements with the use of light-hearted, fun content. Artists, musicians, and influencers are leveraging their platforms to highlight the impacts of climate change and promote sustainable practices, which, in turn, provides easily accessible resources and information to marginalized communities that empower them to participate in the fight against climate change.
Black Communities and Environmental JusticePopulations of color face disproportionate energy burdens caused by climate change. A study conducted by Rice University found that Black communities were more prone to live in vulnerable areas, a generational problem caused by the history of Black gentrification. Even now in 2024, Black communities in Georgia are forced to pay higher electricity bills, despite having lower rates compared to other states, due to old and inefficient household systems. According to the National Black Environmental Justice Networks, African Americans were also found to breathe in 56% more pollution than they cause, whereas their White counterparts breathe in 17% less pollution than generated. African Americans are also 75% more likely than White Americans to live in polluted communities, leading to 13.4% of African American children suffering from asthma, compared to 7.3% of White children.
Starting in the 1970s, some black musicians included environmental themes in their productions. Artist Marvin Gaye released “Mercy Mercy Me (The Ecology)” to tackle discussions about oil spills and mercury waste; funk group Earth, Wind, & Fire released “Burnin’ Bush” to bring awareness about the global destruction of Mother Earth. Those themes continue today in music produced by Black artists, such as in the popular single “Feels Like Summer” by Childish Gambino, which conveys worries about uncertain impacts caused by global warming. Additionally, artists such as SZA have partnered with brands to promote sustainable merchandise, encouraging a societal paradigm to rely on eco-friendly products.
Representation and EducationWith more than 50% of the world’s population active on social media, people are continuously exposed to the influx of information circulated by entertainment. Through the entertainment industry, climate news has become increasingly accessible and engaging, allowing communities to educate themselves on sustainability and mobilize action. Although hip-hop and rap were once considered controversial music genres due to themes of violence, drugs, and misogyny, there is a growing effort to utilize the storytelling aptitude of these genres for social and environmental commentary. Artists use rhymes and flow in hip-hop and rap to effectively share the living conditions, natural disasters, and climate injustice that people face. This empowerment of entertainment has motivated marginalized people to strengthen their community bonds and collaborate in fighting against climate change. The widespread influence of entertainment is fostering inspiration for a new culture promoting climate equity and agency, as well as the normalization of environmentalism in society.
Who are the co-founders of Klean Energy Kulture?Corey Dennard and Michael Hawthorne Jr. (Akachè Marcino) are the co-founders of Klean Energy Kulture, a non-profit environmental entertainment company. Corey Dennard, popularly known as Mr. Hanky, is a hit producer who has worked with top charting artists, including Snoop Dog, Usher, and Soulja Boy. Michael Hawthorne Jr., also known as Akachè Marcino, is an environmentalist and political organizer. Hawthorne has worked on Barack Obama’s first presidential campaign and Sierra Club’s Beyond Coal Campaign. Together, they lead Black communities towards climate resiliency through campaigning for clean energy.
Further Reading
Canary Media: This Atlanta duo has a theory to drive climate action: Make it coolMedium: How Michael Hawthorne Jr Of Klean Energy Kulture Is Helping to Promote Sustainability and Climate JusticeAmerican Lung Association: Disparities in the Impact of Air PollutionAtmos: Composing Climate Change: The Radical Legacy of Black MusiciansClimate Reality Project: Environmental RacismFor a transcript of this episode, please visit https://climatebreak.org/promoting-clean-energy-through-pop-culture-with-klean-energy-kulture-co-founders-michael-hawthorne-jr-and-corey-dennard/.
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The aviation industry and climate change: what are contrails?
A 2022 IPCC report found that direct GHG emissions from the transport sector accounted for 23% of global energy-related CO2 emissions in 2019. Road vehicles accounted for 70% of direct transport emissions, while 1%, 11%, and 12% of emissions came from rail, shipping, and aviation, respectively.
As the mounting effects of climate change continue to be felt worldwide, the aviation industry is pioneering a method to reduce its contributions. Namely, it is focusing on efforts to curtail condensation trails – or contrails – which are fluffy, white cloud formations that sometimes appear as airplanes fly through the cold, humid, and icy parts of the atmosphere. Because they are a combination of soot, water vapor, and particulate matter (such as NOx), when aircrafts pass through these areas, they form cirrus clouds that absorb the radiation escaping from the surface, and, in turn, trap the heat.
This phenomenon could account for around 35% of aviation’s total contribution to climate change — that’s about 1 to 2% of overall global warming! Together, these contrails roughly triple the total global warming impact of aviation compared to CO2 alone. Therefore, it is imperative that the aviation industry find solutions to reduce the production of contrails.
What the industry has come up with: 3 solutionsOne method of reducing contrails consists of replacing traditional fuels with biofuels made from plant or animal biomass, waste, sugars and ethanol (corn). Sustainable jet fuels can produce 50%-70% fewer contrails according to research conducted by NASA and the German Aerospace Center (DLR). Jets using alternative fuels release fewer soot particles, thereby creating fewer ice crystal formations, which ultimately reduces contrail production by extension. Though biofuels may initially form larger crystals, they fall more quickly and melt in the warmer air below.
The second method involves developing electric or hydrogen-powered commercial aircrafts. Hydrogen is an attractive alternative to traditional aircrafts because it can be burned without emitting CO2 and is widely available. These aircrafts would either burn liquid hydrogen directly into their engines, or use gaseous hydrogen in a fuel cell system. With fuel cells, the hydrogen creates an electrochemical reaction that produces electricity to charge the aircraft's batteries while in flight.
A third method involves redirecting flights to avoid contrail-inducing zones. Between 2% and 10% of all flights create around 80% of the contrails, so researchers have started developing predictive models that would allow airlines to identify and avoid contrail regions similarly to how they plan to avoid turbulence. The cost is predicted to be $0.5/ ton of CO2 equivalent. Furthermore, only minor adjustments to the routes of a small fraction of airplane flights is required, making predictive models highly attractive and cost effective.
Some ChallengesWhile biofuels have great potential, they come with their own set of challenges. First is the issue of land use and its effects on agriculture. Producing three billion gallons of sustainable aviation fuel would require between 8 and 11 million acres of corn or 35 and 50 million acres of soybeans, depending on crop yields. This could impact food production and cost. Shifting to corn or soybean based fuels has also been found to produce significant adverse emissions impacts. Lastly, it’s unclear whether sustainable fuels can meet the world’s growing demand for aerial transportation.
While hydrogen is attractive, it has lower energy density than fossil fuels, meaning that a higher onboard fuel storage volume is needed to cover the same distance as current fossil fuel-powered aircrafts. In addition, H2-powered large passenger planes would require significant changes to aircraft design, making it less cost effective in the short term when RD&D costs are considered (development of fuel cell technology and liquid hydrogen tanks, aircraft research, hydrogen infrastructure, fleet output, etc). Industry experts anticipate that it will take 10 to 15 years to make these important advancements.
Lastly, contrail prediction models rely on a variety of input data, including flight trajectories, aircraft and engine parameters, fuel characteristics, and weather data. However, the availability and accuracy of some of these data inputs is still a challenge, as no standardization exists.
Who is our guest?Matteo Mirolo is Head of Policy and Strategy, Contrails at Breakthrough Energy, an organization founded by Bill Gates to spur innovation in clean energy and address climate change. Prior to that he was sustainable aviation policy manager at Transport & Environment (clean transport advocacy group). Mirolo is also a member of the sustainability advisory panel at Air New Zealand.
ResourcesIPCC Sixth Assessment Report: TransportThe contribution of global aviation to anthropogenic climate forcing for 2000 to 2018BiofuelsNASA-DLR Study Finds Sustainable Aviation Fuel Can Reduce ContrailsHydrogen could power the next-gen aircraft of tomorrowLand-Use Impacts of the Sustainable Aviation Fuel Grand ChallengeHow much biofuel would we need to decarbonise aviation?Hydrogen-powered aviationFurther readingAviation Contrails The missing policies on aviation emissionsFor a transcript of this episode, please visit https://climatebreak.org/eliminating-contrails-to-increase-aircraft-sustainability-with-matteo-mirolo/.
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What is methane?
Methane (CH4) (the primary component of “natural gas”) is the second most important greenhouse gas after carbon dioxide.
Around 60% of global methane emissions come from human activities in three main sectors: energy production (oil, gas, and coal), agriculture (livestock and rice), and waste (landfill and waste water). Energy production accounts for about 35% of anthropogenic methane emissions, agriculture accounts for about 40%, and waste accounts for about 20%.
Why is methane leakage prevention important?Methane leaks from fossil fuel production, landfills, and livestock include emissions that are described as “super emitter events,” which have devastating ecological effects. While methane has a much shorter atmospheric lifetime than CO2 (around 12 years compared with one hundred years or more for CO2), it is a significantly more potent greenhouse gas, trapping eighty times more heat than CO2 over a 20 year period, which exacerbates the effects of climate change on our planet. Methane also negatively affects air quality because it is an ingredient in the formation of ground level (tropospheric) ozone, a dangerous air pollutant. Thus, monitoring methane leaks and formulating preventative methods is crucial to preserving the health of both the planet and all those who occupy it.
A growing need for methane prevention efforts: how satellites can help us curb methane leaksThe United Nations Environmental Program (UNEP) has undertaken many initiatives to mitigate methane leaks. In October 2021, UNEP launched the International Methane Emissions Observatory (IMEO), which catalogs emissions for the three largest methane-emitting sectors in a public database, providing governments and companies access to empirically verified methane emissions. This data can be used to build efficient policies to address large methane leakages.
In 2022, the UNEP launched the International Methane Alert and Response System, or MARS through its IMEO program, the first ever satellite-based detection system that notifies governments of major methane leaks from their fossil fuel infrastructure. IMEO breaks down satellite detection in four essential steps:
IMEO uses global mapping satellites to identify very large methane plumes.The emissions information is shared with governments and companies. Important information includes detailed information on their location, size, potential sources, and operators of the relevant facilities.It is up to notified stakeholders to determine how best to respond to the notified emissions.IMEO continues to track methane leakages around the world, repeating the process when large methane plumes are detected. Data and analyses are made public 45 to 75 days post detection on the MARS data portal.There is still more work to be doneWhile developing satellite technology has helped, Dr. Aganaba argues for greater collaboration between different levels of government and greater transparency. While many governments and companies have agreed to methane emission reduction pledges, they are rarely legally binding.
Dr. Aganaba offers the following challenges and solutions. First, we need greater momentum at the federal level to get local and state actors to participate in satellite-based climate data collection. Second, there needs to be a standardization of data monitoring, collection, interpretation, and distribution in order for information to be verified and shared effectively, as this will enable better enforcement methods and compliance. Third, once what Dr. Aganaba refers to as a “national geospatial data infrastructure” is established, the international community must amend the space charters that dictate the current international geospatial data infrastructure. Dr. Aganaba stresses that this legal framework is crucial both to safeguard the environmental integrity of outer space and ensure that the mistakes made on earth are not repeated, both in terms of environmental exploitation and power sharing between developed and developing nations.
Satellite data is not a panacea. Satellites can sometimes mistake clouds or other natural phenomena for methane leaks. These readings are not always reliable as they can be obstructed by clouds, dense forests, or snow, and do not provide information about how much methane is being leaked in a specific location. They do, however, provide a great deal of useful data and much greater transparency.
Who is Dr. Timiebi Aganaba?Dr. Timiebi Aganaba is an assistant professor at the School for the Future of Innovation in Society at Arizona State University, where she founded the ASU Space Governance Lab. She is also the Senior Global Futures Scientist at Global Futures Scientists and Scholars. Dr. Aganaba specializes in international environmental law, international space law and policy, geoengineering, and satellite technology.
Further Reading Aganaba-Jeanty, Timiebi & Huggings, Anna. Transnational Environmental Law, 2019“Satellite Measurement of GHG Emissions: Prospects for Enhancing Transparency and Answerability under International Law”, Transnational Environmental Law 2019
UNEP. 2022How secretive methane leaks are driving climate change
UNEP. 2023Satellite Data to Methane Action: UNEP’s Methane Alert and Response System
Clark, Aaron. Bloomberg, 2023.The Climate Sleuth Uncovering Methane Leaks for the United Nations
For a transcript of this episode, please visit https://climatebreak.org/locating-methane-leaks-with-satellites-with-dr-timiebi-aganaba/.
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What is Energy-as-a-Service?
Most current energy technologies burn fossil fuels and emit carbon dioxide, which contributes to global warming. Adopting low and zero-carbon technologies is one way to reduce emissions, but barriers such as high upfront and maintenance costs have impeded the adoption of these technologies. Energy as a Service (EaaS) is a pay-for-performance model in which customers benefit from sustainable-energy solutions without having to pay for energy efficiency upgrades or own the equipment. Under these arrangements, the EaaS provider provides the customer with an energy service, such as lighting, cooling, or heating, in exchange for a recurring fee. There are parallels in other industries like the software industry, where a key business function or an asset is outsourced to a third party who then takes over the operation of that asset. EaaS providers typically handle the installation, maintenance, and operation of energy systems. By leveraging advanced technologies and data analytics, EaaS aims to enhance energy efficiency, reduce costs, and support sustainability goals, helping businesses improve their energy performance without significant upfront investment.
Benefits of the Energy-as-a-Service ModelBy shifting from a traditional ownership model to a service-based approach, customers can avoid the high initial costs associated with purchasing and installing energy infrastructure. Instead, they pay for the energy services provided, often through a subscription or pay-as-you-go arrangement. EaaS providers typically take on the responsibility for the installation, maintenance, and operation of the energy systems, allowing customers to focus on their core business activities without worrying about energy management.
EaaS can also support sustainability goals by facilitating the adoption of renewable energy sources and other low-carbon technologies. Providers can tailor energy solutions to meet specific environmental objectives, helping businesses reduce their carbon footprint and comply with regulatory requirements. Furthermore, EaaS models often incorporate advanced technologies and data analytics, enabling more information about and control over energy consumption, which results in better demand management and reduced energy waste.
The EaaS model also offers flexibility and scalability. As energy needs change over time, customers can easily adjust their energy services without the need for significant reinvestment or restructuring. This adaptability is particularly valuable in a rapidly evolving energy landscape, with frequent technological advancements and policy changes.
Barriers to Adoption of the Energy-as-a-Service ModelOur guest notes that energy efficiency and sustainable energy projects have been undervalued and not prioritized in the past. While many companies see energy efficiency and sustainable energy projects as the right thing to do, there are often other items that rise to the top of the to-do list. In addition, businesses and individuals may be unfamiliar with the EaaS concept, leading to hesitation in adopting this model. Projects can take significant time to plan and install, which can also serve as a barrier. To date, the EaaS model has been geared towards primarily larger business and commercial customers that are consuming a higher amount of energy, rather than residences and smaller businesses. However, utility companies and governments sometimes offer energy audits and incentives for adopting energy-efficient equipment, and new companies may eventually serve this market.
About our guestBob Hinkle is the founder and Executive Chairman of Metrus Energy. He created the Efficiency Services Agreement that the company has utilized to finance large-scale efficiency retrofit projects. Previously, Bob was vice president of energy efficiency (EE) at MMA Renewable Ventures where he directed the company’s overall energy efficiency financing business and investment opportunities.
Further ReadingWhat Is Efficiency-As-A-Service?How to finance the world’s growing cooling needs? Blended public-private funding solutions.How Cooling as a Service is set to revolutionise the cooling industryMetrus EnergyFor a transcript, please visit https://climatebreak.org/energy-as-a-service-with-bob-hinkle/.
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In 2018, nearly one-third of the 39 million tons of waste in California landfills was compostable organic material. Organic material – food and agricultural waste – releases methane, a very potent greenhouse gas, as it decomposes. As a result, California’s Short-Lived Pollutant Reduction law, SB-1383, targets such food waste by establishing methane reduction targets and takes aim at food insecurity in the state. The implementation of SB-1383 is vital in supporting California’s climate goals. Methane is produced when organics rot, and it is critical to reduce methane emissions levels as the gas is eighty-four times more potent than carbon dioxide in the atmosphere over a 20 year period. When implemented, SB-1383 will reduce California’s methane emissions from organic materials in traditional landfills by an estimated twenty percent.
SB 1383 also supports California's commitments to improving human health, creating clean jobs, and supporting local economies. Some of SB-1383 targets include: expanding California’s organics infrastructure, ensuring all residents and businesses have access to recycling and organics collection services, a seventy-five percent reduction in organic waste disposal from 2014 levels, and that no less than twenty percent of currently disposed edible food is reserved for human consumption by 2025. The bill also requires jurisdictions to conduct outreach and education to all businesses, residents, solid waste facilities, and local food banks.
Chris Seney is the Director of Organics Operations at Republic Services and has operated organic facilities for over twenty years in California. Seney helped lead the development of organics infrastructure and enactment of SB-1383 across the state. The implementation of SB-1383 has resulted in an increase in demand for composting facilities, which, in turn, has increased energy demand. Now, California has its first fully solar-powered compost facility, Republic Services’ Otay Compost Facility in Chula Vista. The facility runs completely on renewable energy, processes one hundred tons of organic waste a day, and helps the San Diego region meet the demands of SB-1383.
Compost also supports California’s climate goals as it promotes a “an economy that uses a systems-focused approach and involves industrial processes and economic activities that are restorative or regenerative by design.” A circular economy focuses on sustainability and the lifecycle of materials, maximizing resources while minimizing waste. Compost is a critical part of a circular economy as the compost produced from recycled organics preserves natural resources, nutrients, and water that would otherwise be lost in landfills. Along with preserving resources, the composting initiatives in SB-1383 are expected to significantly support decarbonization goals. Whendee Silver, a UC Berkeley ecosystem ecologist, “has estimated that applying an inch of compost to just 5% of California’s rangelands would suck enough carbon out of the atmosphere to equal pulling 6 million cars off the road.” Composting may be the next climate crusade and SB-1383 is leading the nation in efforts reducing both food waste and greenhouse gas emissions.
Sources:
SB 1383 Resources - CalRecycle Home PageChris Seney - COMPOST2023 - USCC Conference Site (compostconference.com)SB 1383: Cal Recycles Organic Waste Recycling Requirement | City of Corona (coronaca.gov)Organic Materials Management and Climate Change - CalRecycle Home PageUnderstand Senate Bill (SB) 1383 - Recycling & Waste Reduction Division - County of Santa Clara (sccgov.org)Republic Services (RSG) Opens Solar-Powered Compost Facility | Markets Insider (businessinsider.com)California’s first fully solar-powered compost facility shines brightly, SCS EngineersCalifornia goes to war with food waste. Composting is its next climate crusade, LA TimesWhat is a circular economy? EPAMethane action: Tackling a warming planet, UNEP.For a transcript, please visit https://climatebreak.org/using-solar-energy-to-power-large-scale-compost-with-chris-seney/
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Introduction
People with disabilities are disproportionately affected by climate change; however, they have been traditionally excluded from conversations about national plans and responses to climate change. Including the disabled community in decision making is key to addressing potential harms and designing effective, inclusive solutions.
Disabled Community Disproportionately AffectedMany studies provide empirical evidence that climate change poses a particularly great risk for the disabled community. A study in Australia documented that between 2001 and 2018, 89% of heat wave fatalities were people with some type of disability, and actually many had multiple disabilities both physical and mental. Additionally, after Hurricane Harvey in Harris County, Texas in 2017, people with disabilities were disproportionately affected and exposed to harms. Areas flooded by Hurricane Harvey were overrepresented by disabled populations. The highest proportion of people living in public housing being exposed to environmental hazards were people with disabilities.
While people with disabilities are particularly vulnerable to natural disasters, they have often been excluded from decision-making surrounding climate change, including in drafting national plans and climate responses.
Inclusivity and Accessibility In PracticeEngaging people with disabilities in developing, designing and implementing climate resilient solutions can help protect their livelihoods and autonomy. Meaningful participation can look different in many ways including conducting research to have more data on how people with disabilities are affected and specific ways to help. As well, to develop new technologies and innovations that assist people with disabilities in climate emergencies like early warning systems, communication, and adaptive infrastructure. Spaces can be more inclusive and accessible to people with disabilities. More research is needed on infrastructure design that both reduces emissions and simultaneously will not put disabled people at more risk in climate emergencies, for example, adding ramps and automatic door openers, widening doorways, and having accessible bathrooms. It is also important to host public events in accessible locations to ensure that people with disabilities feel welcomed and valued. Methods of communication should also be accessible like using captions in videos, adding text descriptions and making online materials that work with screen readers so that low vision individuals can also access them.
Disability-Inclusive Climate SolutionsIn addition to educating the community about the importance of disability-inclusive climate solutions and for the disabled community to be educated and equipped for climate disaster risk mitigation, it is vital for the disabled community to be part of the large-scale decision making process and promote meaningful participation. By providing people with disabilities with a greater understanding of the impacts that climate change will have on their lives, then they can be more able to respond to effects of climate change and access the resources they need. Expert Dr. Michael Stein points out that everyone knows their own needs and livelihoods best; hence, it is vital to reach out to the disabled community and include them in the conversation and decision making for climate solutions that will support the disabled community who are disproportionately affected by the effects of climate change.
About our guestMichael Stein is the co-founder of the Harvard Law School Project on Disability. As a world leader on disability law, Dr. Stein participated in the drafting of the United Nations Convention on the Rights of Persons with Disabilities. Dr. Stein became the first known person with a disability to be a member of the Harvard Law Review. He has received numerous awards in recognition of his work in disability rights.
ResourcesAvci, Bratchell, Browning, Coates, Gissing, and Van Leeuwen, Heat wave fatalities, (2001-2008).Chakraborty, Collins, and Grineski, Hurricane Harvey and people with disabilities, (2019).Akyeampong, Alford, Chakraborty, Daniels-Mayes, Gallegos, Grech, Groce, Gurung, Hans, Harpur, Jodoin, Lord, Macanawai, McClain-Nhlapo, Stein, Susteren, Advancing Disability-Inclusive Climate Research, (2024).Szekeres, 8 Ways to Include People with Disabilities in Climate Action, (2023).Nina D. L, How to Include People with Disabilities, (2021).Hélène T., Disability-Inclusive Approaches to Climate Action, (2023).For a transcript of this episode, please visit https://climatebreak.org/disability-inclusive-climate-solutions-with-michael-stein/.
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What is “place-based” climate change communication?
Climate change can feel overwhelming and impersonal when discussed on a global or national scale. Place-based communication works to make climate change feel relevant to local communities and individuals. Issues that impact local communities and have connections to climate change, such as waste, energy, and food initiatives are often good places to start discussions on how to implement climate policies. A focus on local issues can empower communities to take action on matters of local importance with broader implications. When replicated in many communities, place-based communication can enable wide-scale implementation of climate solutions, better communication of science to laypeople, and even engender greater trust in national institutions and scientists advocating for climate solutions. Climate communication is more effective when it incorporates climate solutions that are already being implemented in specific localities. For example, climate communicators can build upon local energy initiatives, spreading information to speed-along a renewable energy transition.
Knowledge Co-productionAnother useful approach to climate communication is referred to as knowledge co-production, a collaborative process bringing together different people, perspectives, and experiences, rather than presenting climate change from, for example, solely from an academic or scientific perspective. When global and national actors engage in knowledge co-production with local communities, both groups benefit. Local communities gain crucial knowledge from experts, enabling them to create smarter/more effective solutions for their communities. Meanwhile, scientists and higher-level policymakers gain knowledge they otherwise would not have, and are empowered to bring diverse perspectives into their work. Part of effective climate communication is not only communicating knowledge, but also taking in new perspectives that can help inform how information is communicated, and what is communicated.
Who is our guest?Dr. Candice Howarth is a Senior Policy Fellow at the Grantham Research Institute on Climate Change and the Environment at the London School of Economics. She is additionally co-Director of the Place-Based Climate Action Network. She researches how the co-production of knowledge and science communication can be used to inform better decision-making with regard to climate change.
Learn MoreUnpacking the power of place-based education in climate change communication
Local knowledge in climate adaptation research: moving knowledge frameworks from extraction to co-production
Book: Addressing the Climate Crisis: Local action in theory and practice
What is climate change communication?
For a transcript, please visit https://climatebreak.org/what-does-effective-climate-communication-look-like-with-dr-candice-howarth/
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What is electric vehicle (EV) retrofitting and why does it matter?
‘EV retrofitting’ refers to the process of converting a gas-powered vehicle into an electric vehicle by replacing its gas engine with a battery pack. The battery pack is designed to fit within the vehicle’s chassis—the structural frame to which its wheels, suspension, engine, and other components are attached. Typically, the battery pack fits in the space previously occupied by the gas engine and fuel tank; the available space generally varies by vehicle make and model. The battery’s size and weight depend on the vehicle being retrofitted, as well as the desired range and performance.
Despite these constraints, mass-producing battery packs for retrofitting a specific type of vehicle chassis with an electric powertrain is possible. Using a standard-sized battery allows for high-volume retrofits of vehicles with a compatible chassis, which can lower costs and reduce the time required for the retrofit process.
Policies promoting the adoption of new EVs, such as California’s Advanced Clean Cars II, can help increase the number of new EVs on the road. However, they do not address the existing vehicle fleet of gas-powered vehicles that continue to emit greenhouse gases and air pollutants. On average, these vehicles stay on the road for about 12 years in the US, and may be used even longer in low and middle income countries. Gas powered vehicles’ slow replacement rate delays the increase in the percentage of EVs on the road. Retrofitting’s supporters say a comprehensive approach to electrifying transportation that includes strategies for retrofitting existing gas-powered vehicles can help address the lag, particularly in low- and middle-income countries where the upfront cost of new EVs present a larger barrier to adoption.
What does Shift EV do, and who is Aly El Tayeb?Shift EV is an Egypt-based company that specializes in retrofitting commercial fleets with electric powertrains. It focuses on vehicles that travel relatively short and predictable routes and return to a home base at night for charging. To make electric transportation more accessible and feasible in middle-income and emerging economies, such as Egypt, the company has adopted a strategy of retrofitting the most popular vehicle models already on the road.
Dr. El Tayeb, the co-founder and CEO of Shift EV, is a chemical engineer with previous experience at a battery startup in the United States. He founded the company in response to the lack of accessible EV options in middle-income and emerging economies, such as Egypt.
SourcesKelly & Gonzales, "What Fleets Need to Know About Alternative Fuel Vehicle Conversions, Retrofits, and Repowers," US Department of Energy 2017.https://www.oecd-forum.org/posts/retrofitting-a-frugal-circular-and-inclusive-solution-to-decarbonize-our-vehicle-fleetWinton, Electric Cars Are Too Expensive For Many, But Retrofitting Could Be The Answer (Forbes 2022).For a transcript, please visit https://climatebreak.org/electric-vehicle-retrofitting-with-dr-aly-el-tayeb/
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Mobilizing Investors to Build a More Sustainable Global Economy
As the effects of climate change rise in prevalence, all facets of the global economy will be affected. In order to address many of the global environmental crises of today, such as biodiversity loss and extreme drought, entrepreneurs are looking into sustainable investment initiatives as a tool for change. Sustainable investing is a process that directs investment capital to companies and businesses actively working to prevent environmental destruction. Sustainable investments often follow an Environmental, Social, and Corporate Governance (ESG) framework, which seeks to promote socially conscious investments. Similar to Corporate Social Responsibility (CSR), which refers to a company’s commitment to operating ethically, ESG goes one step further in providing an assessable outcome of a company’s overall sustainability performance. Thus, ESG lays a foundation for investors in determining which corporations operate sustainably.
Current Climate of Sustainable InvestmentFrom 2021 to 2026, institutional investment in ESG projects is expected to increase by 84%. The World Economic Forum recently published a report noting that over $200 billion is required annually in order to meet adaptation and resilience investment targets, which is three times the current funding. Such investing in adaptation and resilience could reduce exposure to climate risks and yield financial benefits for stakeholders involved. Although climate financing is slowly on the rise, there remains minimal progress in climate-vulnerable and high-emission countries.
There are various types of sustainable investing, operating through registered investment companies, alternative investment funds and community investments. The US Sustainable Investment Forum identified 645 registered investment companies with $1.2 trillion sustainable investment AUM in 2022. Not only does sustainable investment cover private equity investments, but also cash, fixed income, and alternative investments. Sustainable investments, like conventional investing, receive a return on their investments. Reports from the Morgan Stanley Institute for Sustainable Investing found no financial trade-off between sustainable investing compared to traditional investment initiatives.
Does sustainable investing provide hope for the future?Investing in sustainable industry, infrastructure, and business has the potential to provide a more climate-proof economy for all. For private investors, effective investments in areas vulnerable to climate change could reduce disruptions in the supply chain, thereby boosting labor productivity and lowering operational costs. As such, companies will have the tools in place to be able to respond to vulnerabilities when they arise while still maintaining a profit. Additionally, ESG investing has been proven to provide downside protection during social or economic crises according to the NYU Stern Center for Sustainable Business. Such protection may be pertinent in a world more susceptible to the adverse effects of climate change. Many studies corroborate such findings; a meta-study conducted by Oxford University in 2015 revealed that 88% of companies with robust sustainability practices demonstrate better operational performance, translating into higher cash flows and positive effects on investment performance.
Greenwashing and ESG ConcernsOne concern within the world of sustainable investment is largely centered around the question of whether organizations will be willing to take more or less risk to achieve an impact. Companies that prioritize sustainability may be more volatile than traditional companies, creating fear around the uncertainty of consistent returns. Further, there is often confusion on how to make a good return on investment when choosing to invest in more socially responsible companies.
The rise of sustainable investment has brought about potential concerns related to greenwashing, in which a company’s ESG credentials or potential sustainability initiatives may be over-embellished, leading to falsified information. On the other hand, many investors prioritizing sustainable investment initiatives have received a surge in backlash against their new initiatives, mainly from Republican politicians. A recent study by The Conference Board revealed that 48% of surveyed businesses have experienced backlash to their ESG policies or activities, potentially deterring companies from further pursuing such initiatives. An increase in educational awareness is vital to inform investors of the benefits of sustainable investing and ways to do so responsibly amidst criticism.
Who is our guest?Kirsten Spalding leads the nonprofit Ceres Investor Network, which supports global investor initiatives such as Paris Aligned Asset Owners, Climate Action 100+, and Net Zero Asset Managers. Nonprofit advocacy organizations like Ceres Investor Network are at the forefront of promoting sustainable business practices through mobilizing investors to build a more sustainable economy. Kirsten holds a B.A. from Yale College in music, a J.D. from Hastings College of Law, and an M.Div. from Church Divinity School of the Pacific. For six years, she chaired the Center for Labor Research and Education, UC Berkeley and taught at the School of Law. She is an Episcopal priest, rector of the Church of the Nativity in San Rafael, CA, and an avid backpacker.
ResourcesCeres Investor NetworkAdaptation and resilience investment: How do we get the capital it needsSustainable InvestingSustainable Investing BasicsFurther ReadingCSR or ESG: Where Do Sustainability Frameworks Fit In?ESG and Financial Performance: Uncovering the Relationship by Aggregating Evidence from 1,000 Plus Studies Published between 2015 – 2020 Global Landscape of Climate Finance 2023Financial Performance With Sustainable Investing3 hurdles to sustainable investing — and how to overcome themFor a transcript of this episode, please visit https://climatebreak.org/sustainable-investing-for-a-climate-proof-economy-with-kirsten-spalding/
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