“A tipping point has been reached where you have to do something.”
-Michael Barbaro
Larry Fink who oversees the $7 trillion investment fund BlackRock decided not to fund any company who does not have a clear plan to lower their emissions. He wrote:
“Climate change has become a defining factor in a company's long-term prospects. Last September, when millions of people took to the streets to demand action on climate change, many of them emphasized the significant and lasting impact that it will have on economic growth and prosperity, a risk that markets to date have been slower to reflect. But awareness is rapidly changing, and I believe we’re on the edge of a fundamental reshaping of finance.”
-Larry Fink
As a result, business leaders around the world put together their own climate initiatives. Here are a few examples of what they plan on doing:
Google purchased 1,600 Megawatts of solar farms to create a sustainable energy source for their data servers.
Delta Airlines will spend $1 billion dollars in the next ten years to purchase carbon offsets to reverse the impact of burning fuel.
Amazon announced plans to achieve carbon neutrality by 2040 while billionaire CEO Jeff Bezos pledged $10 billion dollars to fight climate change.
Why did only the largest companies respond so quickly? What is the missing piece?
Many organizations do not have the tools to understand how much carbon they are responsible for in the first place. While multinational companies like Google and Amazon have the resources to discover this number, the vast majority of companies cannot hire consultants on an ongoing basis to complete this work for them.
If you find yourself in this position, a business owner facing lost investment opportunities or customer resistance who doesn’t have the tools to change, visit Avanii.ca to find our platform that can help.
