Several years ago, following the release of the film Planetary, we embarked upon a journey to understand both how climate change impacts the capital markets and how the latter can also be a solution. At the time, not as many people were focused on this intersection even though numerous groups including scientists, NGOs, and activists had been engaged in the issues of climate change for decades.
While many people say the situation has deteriorated over this period, the previously stated worst case scenario in IPCC reports may now be avoidable given energy innovations to date.1 It’s also worth pointing out just how many more people, both here and globally, are now engaged in the bigger conversations and in executing on-the-ground solutions. This is evident in many developments including government policy, climate-focused media and events, and more philanthropic and venture capital being deployed in this area.
Through our events at the United Nations, the NYSE, and our partnership with FINTECH.TV, we have convened and interviewed hundreds of people including representatives of the world’s largest asset managers. In these discussions we seek to determine how to drive capital towards solutions. Sometimes we need to hold difficult conversations to identify the reality from the hyperbole. None of us have the benefit of historical records or tried-and-tested methods to rely on as we are living in a new paradigm. We won’t always have the time to test out theories well enough before they are made manifest in new technologies and datasets, but we need to be continually reviewing and learning because new solutions can also bring new problems. However, with more of us stepping up to the challenges and more of us willing to question ideas and engage with people from diverse backgrounds with varied perspectives, we can continue to innovate while broadening and deepening our knowledge.
We are grateful to all of you who are committing your energy, passion, and resources to this important work, so that we can leave a healthy, vibrant world for generations to come. We will never pretend that it will be easy, but as the adage goes, nothing worth doing arguably ever is.
Happy Thanksgiving from all of us at Gitterman Asset Management.
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