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Tanker blinkers

It is very difficult to report on Climate Change. It even difficult to write about reporting on climate change. For example:

On the NYT Climate and Environment page right now has these as their stories:

Fossil Fuels Are to Blame for Soaring Methane Levels, Study Shows

Bezos Commits $10 Billion to Address Climate Change

Both are serious stories and neither can be taken as straight news as they scream out for flame and snark – not even looking at you, twitter. But it points up the challenges of treating climate developments as new when they have existed for more more than a decade and are only being admitted into polite, gray lady discourse. The very idea that plutocratic climate funds are any kind of answer to anything is almost as ludicrous as the story a little farther down the page about damming the North Sea to combat sea level rise. I’m sure they meant the other ‘damning,’ and perhaps could have used them interchangeably.

This is not [only] a complaint. That these stories are being reported out, written and published is something – it’s just an incomplete something. We probably need to cross reference these stories to get a more accurate picture. True multi-media. Bezos’ billions could go to greenlight feature films of stories about what’s happening. You can’t turn the tanker without starting to turn. The. Tanker.

 

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Making money from the Greening

We’re mostly still just trying to do that, as if there’s a first, as if THAT’s the opportunity:

Sustainable investing is one of the hottest trends on Wall Street. Trillions of dollars are rushing in as consulting firms and private foundations spread the gospel. But no one is entirely sure what ESG is beyond the literal (environmental, social and governance) or exactly how to define it. Metrics are self-reported and often hard to measure, tracking everything from carbon emissions to boardroom diversity. Greenwashing is a perennial concern.

Profits, however, are very much measurable. Bloomberg’s fourth annual ranking found that the biggest ESG funds are beating the market. If you do happen to have $1 million to spare and a soft spot for the future of planet Earth, here are some investment ideas for you. How does the intersection of AI, blockchain and climate sound?

We also reported this week on emerging technology such as carbon capture, and less environmentally damaging rocket launches. While not as sexy as spaceships, dirt is also important to the future health of the planet. Global agriculture has come to rely on annual crops and heavy fertilizer use, which inhibit soil’s ability to sequester carbon. 

So we’ll call it ESG or whatever, and we do. Predictions about how this will affect THAT, about where to place your future-of-energy bets is till going to lead to many near-term flareups and dead-ends. Reckoning with the ultimate dead-end may not be appealing, prospectus-wise, but acknowledging that we’re doing it anyway, that doing it the old way got us right to here, is the thing we will always still need to do until we do it.

Waiting. Adaptability Funds are going to scare the investor class for about one-half of a news cycle.

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Conscious Capitalism

We started this blog back in 2008 but okay, here we go:

DAVOS — The powerful momentum of the global sustainability movement, driven by a younger generation, can carry a new era of stakeholder-focused capitalism forward, according to business and financial leaders speaking at the World Economic Forum this week.

At a CNBC panel on “Conscious Capitalism,” anchor Karen Tso talked to two members of the Business Roundtable, Nasdaq CEO Adena Friedman and EY chief executive Carmine Di Sibio, who were among the 181 signatories to the organisation’s statement in August, committing to the purpose of a corporation being to serve all stakeholders: customers, employees, communities and suppliers, as well as shareholders.

Di Sibio said the younger generation of employees (and customers) was a huge driver of this shift in emphasis for businesses. He said: “This is about talent, and it’s coming from the bottom up. People want to know you have a plan around sustainability when they join your company. We hire from college campuses all over the world and it’s the number one thing they want to talk about, and they are going to create more and more pressure.”

Friedman agreed: “The young generation who were at school ten years ago at the time of the crash are now moving up through organisations and expecting more of their companies. Regardless of the economic backdrop, the next generation of workers will demand more of their companies. Investment in climate change and social good is not just a bull market phenomenon.

And just when you thought it was safe to go skiing in the Alps with your favorite, enlightened global tech elites, don’t forget to cross check The Evil List.

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The thing about GROWTH

Interesting digression from Joel Klotkin about a dilemma that continues to plague us, which is also wrapped tightly around all efforts to de-couple ever-growing returns in economic activity from energy-intensive work and employment:

The global phenomena of low economic growth and rising prices has sparked middle-class-led rebellion—what one Marxist publication describes as “a strike against the rising cost of living.” While the specific issues may vary in each instance, the new protests are motivated by middle- and working-class fears that slow and de-growth conditions will “proletarianize” their once decently comfortable living standards.

Many of the progressive gentry dismiss these movements as primitive populism, producing detestable things like Brexit and the election of Donald Trump. But the “great revolt” has since expanded to countries with liberal cultures and evolved welfare states, including France, Chile,  even Norway and the Netherlands. In most places these rebellions are led not by perpetually outraged students, laid off workers, or angry immigrants, but by solidly middle-income workers who feel their long-term prospects, and those of their children, are increasingly dismal.

These fears are particularly acute for workers in environmentally inconvenient industries, such as energy, manufacturing, or home-building, who are losing their jobs or have been explicitly targeted for unemployment by the green Left. Those who continue to work in unavoidably energy-intensive industries like agriculture continue to be saddled with ever rising costs for critical commodities like diesel fuel. These energy price rises particularly impact most Europeans who drive to work.

This is obviously not unrelated to the perpetual ‘make the miners into coders’ solution that is stupid on its face (we don’t need that many coders) and insulting by implication (they can just do something else!).

The need for ever-increasing growth needs some re-imagined parameters. Instead of successive generations wanting their kids to earn more and more, what if our dream was for them to work less and less? What else might they do? Do you mean we can’t think of or value anything else beyond work? Is that the actual problem? The idea/reality that it is blasphemy to consider the merits of working a 20-hour week, or that we have trouble imagining these merits says far more about us that we should be comfortable with.

Hmmm. What’s Green?

Image by author.

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Squamish Nation not squeamish on blending indigeneity and urban design

Clunky title, but this story on the re-development of one of Canada’s smallest First Nations reserves mixes boldness with vision for Vancouver that is easy to romanticize but more nearly resembles a living model for cities going forward.

Few First Nations reserves in Canada are found so centrally in urban areas, and this unique location has given the Squamish Nation a chance to explode local city-building norms. Construction begins in 2021, and at more than 500 units per acre, Senakw’s density will reach Hong Kong levels – a fact that is only allowed because Senakw exists not on city land, but on reserve land, which is technically federal.

Another striking feature is that only 10% of apartments will include parking, unlike the city’s rules that mandate one parking space per unit. The buildings will also forgo the podium-and-tower design that’s become a hallmark of “Vancouverism” in favour of slender high-rises maximising public space. The buildings could be up to 56 storeys tall, towering above the low-rise neighbourhoods nearby.

But beyond even the serious density considerations, there is the language slight of hand that gets at something far more pernicious:

“In the early history of Vancouver, and colonial cities generally, there is this opposition assumed between the civilization cities are imagined to represent, and the imagined savageness of Indigenous people,” [Stanger-Ross] says. 

The ways that the terms ‘urban areas’, ‘cities’, and even abstractions like ‘density’ have been co-opted as code words for racist politicking is maybe coming full-circle. Hopeful, I know. But good work, First Nations folk. Right racists depend on decent people being too nice, too squeamish, plus the ever-present lack of temerity to call out, punch back, or in this case, build up. Re-take the words, then re-make the savage cities with civilizing force of architecture.

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Updating the artwork

The Prado is collaborating with the World Wildlife Fund to deface some famous works of art to reflect the effects of climate change:

Marta Zafra raises the sea level on Felipe IV a Caballo (Philip the IV on Horseback) by Velázquez, circa 1635.

The Parasol that supplies the title for Francisco de Goya’s El Quitasol of 1777 becomes a tattered umbrella barely sheltering miserable, crowded refugees in the sodden, makeshift camp of Pedro Veloso’s reimagining.

If Velasquez and Goya getting the Banksy treatment seem too much for you, try ocean acidification, lack of fresh water, and drought on for size and pay some attention before the price gets any higher.

Bravo, Prado.

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FILTH

That’s [ALSO] an acronym.

But, it’s missing a ‘K’, and if we are curious about whether revolutions are possible, we could try Hong Kong, wherever it might be that we have previously failed:

Hong Kongers marched again on Sunday, chanting “five demands, not one less” as the city’s anti-government protests approached their six-month milestone.

Demonstrators have been locked in a stalemate with the local government since early June amid protests initially sparked by a bill that would have enabled extradition to mainland China. On June 9, a million people marched through the financial center to demonstrate their opposition. Approximately 2 million people marched in protest a week later.

While Hong Kong leader Carrie Lam has since retracted the bill, fulfilling one of the five demands, critics regarded the move as too little, too late. Social unrest in the city has since taken on broader anti-government sentiment as protesters push for greater democracy in Hong Kong.

Government opposition was fueled by anger with police conduct as well as how Lam’s administration dealt with the protests, Ma Ngok, associate professor in the department of government and public administration at the Chinese University of Hong Kong, told CNBC.

“The government hasn’t actually responded, so a lot of people think they just cannot give up on the protest” Ma said.

Despite efforts to crush defuse the protests, they are showing no signs of abating – whether they might be abetted in another question. But the strange power of democracy carried over into the recent elections, where pro-democracy candidates won unambiguously as a almost three million voters rejected pro-establishment candidates.

No one seems to have told protestors that their tactics are not working.

Image via Adbusters.

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Faceback

Take the [please!] newest, most naive form of sharing personal news and information, let it be a for-profit business and just for kicks, make it the most profitable non-product the world has ever known. What would you get?

On the one hand, the company wants to curtail the spread of disinformation across its site. At the same time, it wants to avoid alienating the groups and candidates who depend on its platform for fund-raising and organizing. So in trying to find a way to please everyone on the issue, Facebook has managed to please no one.

The social network has now become an outlier in how freely it lets political candidates and elected officials advertise on its platform. While Mr. Zuckerberg declared last month that Facebook would not police political ads, Twitter said it would ban all such ads because of their negative impact on civic discourse. On Wednesday, Google said it would no longer allow political ads to be directed to specific audiences based on people’s public voter records or political affiliations.

Part of our own vulnerability rests within an inability to understand simple words like ‘sharing’, and reluctance to engage with non-simple contracts like the many we would rather click agree to and just get back to posting our favorite stuff. More on all of this soon, but we’re really staring into the abyss here without noting the swirl. We hear the sound, but not its signal; can do steps but are not invited to the dance.

Thumbs up!

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11 to 7 on the Paradigm Shift

There are great amounts of quality disparagements of business schools in general (intentional or not), and MBA programs in particular. The singular ethos, such as it exists, or lack of concern beyond profiteering for anything involving people, environments, good governance or even public safety opens a very wide field in which quite little is possible other than the growing of predator industries and the election of frauds.

But the hedge-fund guys and girls have largely gotten a pass for a long while now, though that just will not suffice and they refuse to have their lack of acumen for or understanding of the industries they destroy not properly respected for precisely what it is:

To me, this and so many other closings of quality publications leads to a broader question of whether journalistic outlets can even exist under this current age of capitalism. In short, I think the answer is basically no. Journalism can exist in a capitalist system of course, but only when the people who own these outlets have some higher purposes, at least in part, whether it is some belief in the truth or at least a willingness to accept relatively moderate profits instead of instant gold. But we now live in an era of venture capitalist schemes, where rank idiots stumble into massive wealth and believe that they are rich because they are smarter than everyone else. When this happens, as it did in the initial Gilded Age, these morons run roughshod over the world around them.

Just so. The jump comes from a ledge of dangerous combination: You make a great deal of money – however quickly – and also systematically evade any education that would have given you access to some self-awareness that might save you and others something a little more important than two points below prime. The serial misunderstanding of terms will be the subtext of the best work of many future historians and not-a-few extradition treaties. CRaP, for example, is a re-purposed acronym that should be far more useful that it is.

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The Real Eschew

Given the vicissitudes of the news cycle over the last four months, this is a pretty solid distribution of issues over the last four debates. As long as Health Care stays in the top three or four, voters might be able to stay focused on the ridiculous costs of living, and even of dying, quite frankly.

And Democrats can actually do several things at once, as long as one of those things is holding criminals accountable for crimes.

Bonus Fun Fact: subpoena means “Under Penalty.”