Davos depressed me. Too little, too late. But, on reflection, I’ve managed to find a glimmer of hope.
Most millenials I know are environmentally savvy. As consumers, they seem to be moving away from high carbon products to low. If more consumers follow suit, businesses will have to follow. In addition, as employees they are looking to avoid companies who contribute more to climate change. In America, Microsoft have announced itself as a green company that will pay back all the carbon it has generated since coming into being. Investors are also beginning to make a stand. BlackRock, also a U.S. firm, manages $7.4 trillion of funds and it is saying it will move away from ‘high sustainability risk’. Some businesses are at risk of future regulation or the introduction of a carbon tax, others because of extremes in the weather. BlackRock is divesting companies whose revenues are more than 25% dependent on coal. Trump’s Treasury Secretary, Steve Munchin, might have called on Greta Thunberg to take lessons in economics, but it looks increasingly as though he’s the one behind the curve. If I was a businessman, I’d be looking Green. Things might be beginning to move in the » Continue Reading.