A new McKinsey & Co study estimates that the global economy needs to invest $9.2 trillion dollars annually to curb emissions and reach net-zero by 2050. That’s at least $3.5 trillion more annually than is currently being invested in low-carbon and fossil fuel infrastructure. These findings suggest that nations and corporations will need to ramp up decarbonization efforts fast.
The COP26 summit is now concluded after two-weeks of negotiations among world leaders to curb climate change. The result of these talks is the introduction of the Glasgow Climate Pact, officially agreed to by nearly 200 national signatories. Some are calling this agreement a success, others a failure, and many say it’s somewhere in between. We outline the key takeaways from the Glasgow Climate Pact so you can decide for yourself.
Bloomberg Green – The Biden administration is outlining ambitions to dramatically boost offshore wind power in the U.S. by 2030, pushing to drive construction of projects at sea capable of generating enough electricity for more than 10 million American homes.
Wind is one of the planet’s most efficient renewable power sources and offshore winds tend to blow harder and more uniformly than on land. Yesterday, the New York State Energy and Development Authority (NYSERDA) selected Equinor and incoming strategic partners bp to transform two of New York’s ports into large-scale offshore wind working facilities in hopes of positioning New York as an offshore wind industry hub.
Investment assets dwarf philanthropy and aid, so the simple message is that if we can align our investments with our beliefs, we can have an impact on the world… and, thus the term… “Impact Investing.”