Next 1000 Billion-Dollar Startups Will Be in Climate Tech
BlackRock CEO Sees the Future
When Larry Fink speaks, CEOs listen. Fink is Chairman and CEO of BlackRock, the world’s largest asset manager with more than US $10 trillion in assets in its portfolio. Each year, he writes a letter to the CEOs of the companies in which BlackRock invests, “to highlight the themes that [he believes] are vital to driving durable long-term returns and to helping [investors] reach their goals.” In his most recent letter, issued in January, he makes the bold assertion that, “The next 1,000 unicorns (startups that achieve a valuation of $1 billion or more) won’t be search engines or social media companies, they’ll be sustainable, scalable innovators – startups that help the world decarbonize and make the energy transition affordable for all consumers.
This, Fink asserts, is because “most stakeholders – from shareholders to employees, to customers, to communities, and regulators – now expect companies to play a role in decarbonizing the global economy. Few things,” he says, “will impact capital allocation decisions … more than how effectively [companies] navigate the global energy transition in the years ahead. ”Some companies have gotten the memo, while others are still adjusting to (or even resisting) this new reality. But,” says Fink, “every company and every industry will be transformed by the transition to a net zero world. The question is, will you lead, or will you be led?”
He continues, “Engineers and scientists are working around the clock on how to decarbonize cement, steel, and plastics; shipping, trucking, and aviation; agriculture, energy, and construction. I believe the decarbonizing of the global economy is going to create the greatest investment opportunity of our lifetime. It will also leave behind the companies that don’t adapt, regardless of what industry they are in. And just as some companies risk being left behind, so do cities and countries that don’t plan for the future. They risk losing jobs, even as other places gain them. The decarbonization of the economy will be accompanied by enormous job creation for those that engage in the necessary long-term planning.”
In this environment, Fink argues that “It’s never been more essential for CEOs to have a consistent voice, a clear purpose, a coherent strategy, and a long-term view …. Putting your company’s purpose at the foundation of your relationships with your stakeholders is critical to long-term success.” At 247Solar, our purpose is to provide reliable, around-the-clock, zero-carbon energy to aid in the fight against climate change and to cultivate an environment that fosters respect, equity, and opportunity for all of our stakeholders.
Read Larry Fink’s full letter here.
Mine Power – Net Zero is Slowing Progress on Climate Change
The term “net zero” has been in meaningful and public debate for some time, and it has become the default goal state for most efforts toward carbon reduction to mitigate climate change. But according to 247Solar CEO Bruce Anderson in an article that originally appeared in Energy and Mines, there’s a catch. “Using net zero allows everyone off the hook and slows down the pressure to go zero carbon, which is the only true way to impact climate change in a meaningful and permanent way.”
Says Anderson, “There are several ways in which miners and other companies can claim net zero without actually doing anything that reduces carbon emissions into the atmosphere.” In reality, most companies, when they claim net zero, are producing CO2 on-site and claim that they are doing something offsite to offset their emissions (and claim available energy credits). Bottom line, net zero means companies can use sleight-of-hand to claim they are doing something to aid the planet, when instead they are often engaged in a shell game, merely moving emissions around.
The goal, says Anderson, should be zero carbon. “Net zero is comparative – something positive in one place compared to something negative somewhere else. Such comparisons are often tough to measure and easy to fudge. Zero carbon is absolute. It does not need to be measured or compared with anything else. Something is either zero-carbon or it isn’t …. The planet doesn’t care whether emissions come from your facility, or from your neighbor’s. The sole way a mine can have confidence that what they are doing is zero carbon is to make their own operations zero carbon.”
Read the full article here
News from 247Solar
247Solar’s HeatStorE battery operates almost like an electrochemical battery but has significant advantages at longer durations, & STAG-Tech’s turbines capture the fastest wind speeds. Watch video.
Don’t miss CEO Bruce Anderson’s presentations at two upcoming virtual conferences:
- Energy and Mines Africa Virtual Summit – February 22-23, 2022
- Africa Energy Indaba – March 1-3, 2022
Join Bruce in person in Washington, DC:
- Powering Africa Summit – March 16-18, 2022
- Visit our Hosted Boardroom and meet Bruce – 11:00 AM Friday, March 18th
Have a look at our latest video, presented in collaboration with STAG-Tech, UK-based maker of compact modular wind turbines that complement our modular scalable solar power generation and long-term thermal storage solutions.