Dear reader,

Welcome to 003 of our newsletter, Demand Change. We are sharing how we, our customers and the economy as a whole is working towards full decarbonization. We'll be covering subjects within carbon accounting, climate policy, climate tech innovation and sustainable finance.

Decarbonization Stories of the Week

The environmental non-profit, Ember Climate released its latest report, Global Electricity Review 2022. One of the key facts to highlight is that if renewable energy's 10-year average compound growth rate of 20 per cent can be maintained to 2030, the world would be on track to limit global warming to 1.5C above pre-industrial levels. It's important to keep investing in the deployment of solutions that already exist and that are reducing emission sources. We are looking at you heat pumps and rooftop solar. The EU delivered another epic package of proposals as part of the Green Deal plan. This time the focus is on a set of laws that ensure that products such as phones, tablets, TVs and clothes last longer and are easy to repair and recycle. The legislators' intention is to make sustainable and circular product the new norm.

Industrial Process of the Week

Mirror, mirror on the wall... not to be too personal but how many times have you looked in the mirror in your life? And how many times have you thought about how mirrors are made? If you haven't found the answer already, then you are in for a treat.

The Turning Point

According to a study recently published by Deloitte titled The Turning Point, the United States could gain $3tn over the next 50 years by decarbonizing and becoming a net zero economy. Meanwhile, the cost of insufficient, mismanaged climate action would round up to a whopping $14.5tn.

Economists have long argued that "the cost of action is smaller than the cost of inaction" when it comes to climate, but this study goes further in that it clearly quantifies the upside of decarbonizing the economy.

So we never would have thought that quoting TOTO was ever going to be this appropriate, but here we are. Let's cast the evergreen wisdom of the 90's out into the bright future: "It may be by choice or a small inner voice I can't say When you add up the cost we all have a cross How do you write off the loss? Where do I go from here? How do I find my way? When is it loud and clear That there's no turning back? No looking back Where do I go from here? Nobody gets away It's a new kind of fix For the poor and the rich You never know what's coming next, at the turning point."

As always: stay tuned, stay safe, demand change!

- Adam & The Variable Team