Green Options

A couple weeks ago, I wrote about China’s new policy to focus on buying (almost entirely) “China-grown” wind turbines and wind turbine technologies with Chinese patents. That policy wasn’t a big hit internationally and China is back-tracking.

However, is it changing its stance out of international moral pressure or a major financial incentive (recent deal) in the US? And who is to benefit the most from this shift?

Life, Money and Illuision is not about the magical arts or wizardry, though it does demystify money and Wall Street’s greedy aspirations abetted by the global push for more growth and consumption (and jobs).

Life, Money and Illuision: Living on Earth as if we want to stay (New Society, 2009) by Mike Nickerson is a driving tome that reconciles how our economy operates in relationship to the ecological and social systems on which we all depend.

In this second revised edition of Life, Money and Illusion, Nickerson explains that “Life” refers to the biological processes by which living things maintain themselves over time. “Money” represents our economic ideology that claims that as long as the volume of money changing hands increases, all will be well. “Illusion” refers to the fact that these two perspectives are directly opposed in terms of how they would solve current problems.

As one might imagine, a book of this stature and ambition — if providing meaningful analysis and argumentation (which it does superbly) — is not a cursory or a casual read. Running 448 pages, Life, Money and Illusion is meticulously fashioned in easy-to-understand language that makes Nickerson’s arguments and ideas both compelling and provocative. It draws from numerous fields, including ecology, psychology, philosophy, mathematics, and, of course, economics.

Chaired by President M. Nasheed, the Government of Maldives recently concluded the world’s first ever underwater cabinet meeting. The small island nation of Maldives will perhaps be the first country to go under water, if predictions based on climate change models come true.

The underwater meeting was called to raise this concern and put pressure on the West to act NOW, and for a fair deal at COP in Copenhagen this December. A day after the event, extensively covered by the media (View on: CNN | BBC), the Government of India has announced the setting up of a National institute for long-term research on climate change.

Years before he was a well-respected United States Senator, Minnesota native and satirist Al Franken was also “Supply Side Jesus“. He gives voice to this witty and sardonic animated allegory, “The Gospel of Supply Side Jesus”.  Franken is quite effective as the overtly capitalist Christ who embraces supply side economics above all else; indeed Jesus and Franken are both Jewish. This five minute cartoon manages to

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Clean tech has passed biotech and IT as the top venture capital (VC) investment category in the world. This is after investments in leading clean tech markets increased by 10% in the third quarter of this year.

Cleantech Group released findings on Wednesday showing that the cleantech sector “accumulated $1.59 billion across 134 companies” and this was 10% more than the $1.2 billion it had accumulated in the second quarter.

John Rowe, Exelon CEO, said yesterday that climate change legislation is an urgent issue. At the same time, he announced that the nation’s largest utility would not be renewing its membership with the US Chamber of Commerce because of the Chamber of Commerce’s opposition to climate legislation.

A new report released today says that if we shift our economy — to a greener, low-carbon economy — we will have more jobs, not fewer.

Earlier this week, Tony Blair (former prime minister of the UK) and the Climate Group reported that if we worked to avoid climate change we’d create 10 million new jobs by 2020 — worldwide. Another recent study by Greenpeace and the European Renewable Energy Council says that such a shift could increase employment in the EU by 2.7 million jobs by 2030.

One more report, released today by the Global Climate Network (an alliance of nine influential think tanks) comes to similar conclusions.

Climate Action Will Pay for Itself, and More.

The United Nations (UN) stated earlier this month that the cost of avoiding climate change was at least 1% of global GDP — $500-600 billion dollars. Despite this major cost, Tony Blair, former Prime Minister of the UK, and The Climate Group, presented a report to the UN yesterday saying that a strong climate deal will “boost growth in all major economies & create millions of new jobs.”

181 of the world’s largest investors say that the climate agreement in Copenhagen needs to be strong and binding.

This is from companies managing over $13 trillion and is the largest such statement to date. Their proposals are even stronger than what most activist organizations are asking for.

The United Nations stated a couple weeks ago that developed (rich) countries need to provide developing countries with about $500-600 billion a year to control global warming. This was a big increase from other predictions.

Big portions of these funds need to go to India, a large developing country that includes about one sixth of the world’s population. A new study shows what is needed to significantly cut growth in greenhouse gases in this top country.

Even a year gone since the failure of Lehman, fundamental questions remain regarding the core underlying assumptions of our financial system. Though currently derivatives trading and black boxes appear out of favour, what will replace them in terms of helpful and productive uses of capital still has yet to be determined. This question was what the Conference on Social Capital Market’s, or SoCap09 tried to give some structure to; while the trend towards sustainable investments and long-term ROI seems to have taken the place of actively managed funds seeking 20x returns.