November was a big month for climate action. Attending leaders, diplomatic delegations, or recorded messages — practically every nation had some presence at this month’s United Nations Climate Change Conference in Glasgow. Even North Korea was represented, with its Ambassador to the United Kingdom attending a speech by South Korean President Moon Jae-in.
Leaders across the world agree that it is time for climate action. There is much to lose long-term in failing to take appropriate measures and much to gain if green technology is both economically competitive and energy efficient. However, questions remain for emerging industrial economies attempting to balance decarbonization with development. After all, the West’s rise to economic dominance was fueled by hydrocarbons – and now the developed world refuses to fund hydrocarbon projects even if they address energy poverty in emerging markets.
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The business of funding disruptive businesses is booming—and is itself being disrupted
YOUNG COMPANIES everywhere were preparing for doomsday in March 2020. Sequoia Capital, a large venture-capital (VC) firm, warned of Armageddon; others predicted a “Great Unwinding”. Startups like Airbnb trimmed their workforce in expectation of an economic bloodbath. Yet within months the gloom had lifted and a historic boom had begun. America unleashed a raft of stimulus measures; the dominance of tech firms increased as locked-down consumers spent even more of their lives online. A wave of companies, including Airbnb, took advantage of the bullish mood by listing on the stockmarket. The market capitalisation of venture-capital-backed firms that went public last year amounted to a record $200bn; it is on course to reach $500bn in 2021.
Why the West Should Develop a Clean Energy Strategy to Meet The Needs of The Indo-Pacific Region19/11/2021
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