Impact Brief: Billionaires, Metaverse, Climate Tech – Who will save the World?
It's a good thing - most people are talking about sustainability, perhaps even mentioning ESG. Even Jane Goodall got her own recycled plastic Barbie made in her likeness. These days it seems to be the topic that everyone has an opinion on from climate activism to the right-out offensive. In fact, some critics have ‘tokenized ESG, weaponized it as a political agenda', and oversimplified the complexity of sustainability in business.
The counterattack to ESG regulation has gone as far as the US Supreme Court restricting the Environmental Agencies' ability to regulate carbon emissions in its latest backward strategy.
Businesses across industries are making an entire range of attempts at committing to sustainability in their own rights, although many worry about the dilution of social purpose and the high potential of greenwashing through ESG claims that are emerging.
Regardless of the disarray, the fight to meet the climate crisis through business head-on is fully alive with many continuing to push regulators to do more in many different regions around the world to ensure we are capturing the complexity of the multidimensionality to sustainability and social purpose in a business - and in the end, keeping companies honest.
And as you will see in this month's Brief - there are many paths to be taken to reach for sustainability from investing in climate tech, to dreaming up the metaverse, to relying on our billionaire friends to save the world and everything in between.
The fight for the climate, for our planet, is fully in play. Are you part of it?
CONVERSATIONS IN IMPACT
B CORP MOVEMENT
New leadership, price hikes, and a maturing organization. As the B Corp movement grows, ESG and sustainability are finally taking hold within many business and investment circles. What is next for the growing movement? Well first up is a leadership transition as the founders make room for a new executive leader Eleanor Allen.
Read more about the changes at B Corp and the newly released Best for the World List
Higg Index Controversy
Higg Index Controversy exposes the cracks in fashions' sustainability efforts, and the faults of attempting to regulate your own industry. The accusations have focused on misleading data leading to greenwashing. The larger debate in the industry is why is it so difficult for fashion to get it straight when it comes to commitments, sustainability, and making the right choices.
Read About the Higg Index controversy
2022 Global Institutional Investor Study
Shroeder releases its 2022 Institutional Investor study reveals the investment appetite of global institutional investors. The report marks the first time impact investing is in the top three preferred approaches to sustainable investing since it launched in 2017 - however not in North America. Jump into the details of the findings.
Shroeder Report on Impact Investing
Role of the CEO in the great ESG debate
ESG is the hot topic of the year with major companies and investors jumping into compliance head first but that doesn't mean that everything is peachy great. The ESG squeeze from regulators is keeping a lot of leaders rethinking their approach, commitments and how they will achieve their ESG goals.
Read more about ESG and the role of the CEO
Metaverse and the Natural World
We know everyone is building elaborate gaming, shopping, and play environments in the metaverse but what else can we use it for? Can we do good with the metaverse - is that possible? Some believe there is a massive opportunity to utilize the metaverse to connect and protect the natural environment - this is a growing area of work being conducted throughout the world such Microsoft Azure’s Planetary Computer or Google’s Earth Engine. The future is bright but we need to utilize our technology beyond vanity projects and transform it into a tool for good.
Read the article in the Stanford Social Innovation Review
Can Billionaires save the World?
John Doerr donated $1 Billion to Stanford to build out a new Climate and Sustainabilty school - deeming climate science the new computer science. He sits down with Kara Swish with the New York Times to discuss his monumental gift. He certainly is not the first to throw millions, billions at technology. Like John Doerr, Bill Gates certainly believes that innovation will save us all - there is a book and a podcast with Kara as well in addition to his commitment to give away the majority of his wealth. But back to John, Kara discusses how climate tech and venture funding could lead to better outcomes. The biggest question of all, however - will billionaires save the planet?
Listen to Sway with John Doerr
Surfing Big Waves of Regeneration
A wonderful interview with Yvon Chouinard the founder of Patagonia and John Elkington one of the founders of the modern sustainability movement. They talk problem-solving, the word sustainability, and surfing of course.
Impatient Readiness: The State of Social Finance in Canada
New report released through the Investment Readiness Program showcases the depth and breadth of the impact investing vehicles and actors. It is a great overview of the sector, its focuses, and the moving pieces that are driving change throughout the many regions across Canada.
IMPACT NEWS & GOOD READS
Greenwashing companies pose major risk to investors
Leadership transition at B Corp signals changes for the growing certification.
Bains 7 Innovations to accelerate business sustainability
The path to climate action is paved with technology
Plant-based meat is a great investment for climate change
How banks are building climate resilience - a webinar.
How to position your key sustainability officer for success.
Can a mega fast fashion house like H&M ever be sustainable?
DEI and social impact face major challenges as recession looms
Young investors want a greener, fairer future - how will the world respond?
A great example of how not to navigate social issues at a company
Google launches its $30 Million Impact Challenge on Climate
CLEANTECH & CAPITAL
Twelve raises a $130Million Series B to expand operations for its carbon recycled products such as sunglasses, while also investing into a new “industrial-scale carbon transformation platform.”
IP Group launches Kiko Ventures and raises a $450Million evergreen cleantech fund to focus on regenerative technologies.
Climate tech reaches $19Billion in deals by mid-2022, 21% lower than 2021 but still on good track with 80% in US and Europe, specifically carbon-focused funding jumping 8x.
Terra CO2 rases $46M in a Series A to expand its low carbon alternative to cement production with investors including Rio Tinto, LENx and Creative Ventures.
