Riding the Green Recovery Wave
As nations design their stimulus packages for a post-pandemic world, calls for a resilient “green recovery” persist. Yet of the G20’s $330B public money commitment to the energy sector, almost half is going to the dying fossil fuel industry. #Buildbackbetter is flooding the internet while oil and gas continues its downward trajectory (with 18 North American producer bankruptcies in Q2 alone, and yet more stymieing of pipelines). Seeing the writing on the wall for fossil fuels, global business appears to be using its voice: US blue chip corporations including McDonalds, Unilever, Mars and Pepsi have joined the call this month, as a flock of new studies underscore the strong business case for placing renewables at the heart of the COVID-19 recovery.
Meanwhile, joining the Big Tech wave of ambitious climate action, Apple announced its new net-zero target this month. As Tim Cook put it, “climate action can be the foundation for a new era of innovative potential, job creation, and durable economic growth…we hope to be a ripple in the pond that creates a much larger change.” At Active Impact Investments, we agree. We founded our firm as a BCorp because of our commitment to quantifiable impact on the most urgent environmental challenges of our time.