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The Frog will explore The Climate Action Handbook: A Visual Guide to 100 Climate Solutions by Heidi Roop in the first 100 days of 2024
In the first `100 days of 2024 we will explore 100 climate solutions that may “empower you to evaluate, engage, and act” to address on-going climate change as an individual on your terms.
In his book Project Hail Mary, Andy Weir conjures a rapidly advancing threat to the existence of life on planet earth, not unlike what we are facing now. In this fictional account, scientists convince global leadership of the immediacy of the threat and develop a monumental and desperate “Hail Mary pass” of a plan. The economic resources of all nations on the planet are marshalled and focused on executing the plan and saving humanity. Then the story begins…
In the book, executing the plan is accomplished through the sheer force of will of a few individuals who are given immense powers to suspend the normal economic order of private ownership, profit, and growth for the good of all. Given the state of the real world, it is lovely to daydream about this fictional solution. But, in the here and now, despite the fact that A. we know there is a problem, B. we know that the consequences of inaction are dire, and C. we know what we need to do to survive, apparently on this planet taking the drastic action to save humanity must be done while also conserving the economic status quo.
What we are talking about is financing the global effort to mitigate the effects of future climate change and adapt to the changes already underway. The investment from governments, the private sector, corporate investors, and individuals is currently inadequate to address the climate goals that have been agreed to. Many corporations are beginning to recognize the value of making investments in climate technology. Many governments, such as the US (for now), are making public funding available for companies, universities, and start-ups to research, develop, and deploy needed technology and infrastructure.
However, recently “more money globally was spent on fossil fuels than on investments in renewable energy and sustainable infrastructure”. And we are increasingly called on to urgently address the clean-up after climate change amplified disasters that are made even worse by neglected infrastructure in need of investment.
In 2020, climate financing of all forms was $632 billion. At-scale financing and investment from governments, global organizations, corporations, investment groups and banks are required to make rapidly make progress. But it is not enough: some experts put the annual climate investment gap at over $3.5 trillion dollars worldwide.
While we work for needed global change, individuals can contribute significantly through spending decisions on climate critical technology like EVs, solar panels, battery storage, heat pumps, and solar water heaters. Using our dollars to drive investment and innovation is a way to influence a massive and complex global economic system comprised of companies trying to maximize shareholder value.
“As with many actions in this book, when we are able to, it’s essential to put our money where our climate values are”
Heidi Roop
More importantly, becoming a savvy and active investor is a more direct route to funding the change we want to see. In 2019, over 85% of individual investors expressed interest in sustainable investment opportunities; when you focus on individual demographics, over 95% of millennials would actively seek to invest in sustainability. The issue is the disinterested, unmotivated financial markets and the slow pace at which they are making the investment products available.
Unlike private equity firms and other “big investors funded by Wall Street [that] buy up homes that could have gone to first-time homebuyers, then jack up rent, neglect repairs, and threaten families with eviction”. Please write in support of recently introduced federal legislation that seeks to curtail this on-going financial catastrophe.
If governments and corporations are not going to act fast enough, we must. The most accessible action is to support climate mitigation and decarbonization through your purchase of an EV, solar panels, or investing in community solar gardens. If you are able, research and become an expert in socially responsible investing strategies and make your financial choices deliberately in alignment with your values.
And as always, speak up! Voices and votes, people.
Next Up: Climate Action in 2024 – Day 21: Divest and Reinvest
Back to 100 Climate Solutions
Howard Creel
#rescuethatfrog
Email: rescuethatfrog@gmail.com