economy

China’s Changing Waste Management

- Adam Clare

China’s rate of economic development has caused massive change in the country and that includes the impact on waste management. Waste from consumer goods, industry, and other “good” things for the economy causes huge problems around the world. China is now at a turning point that can see interesting solutions to problems the developed world has had an easier time dealing with.

The sheer amount of pollution in China is causing people in the city to protest government policies. Environmental consciousness is growing in China.

Chinese waste management stands at a watershed moment. Rising environmental consciousness among the educated, urban middle class—who insist on clean air, clean water, and a clean landscape—may compel the Chinese government to act.

One foreign observer I spoke to noted that contemporary Chinese protests are “always environmental.” Recent events seem to support his point. Grist has reported on artist-activists who make pollution the central feature of their work. And in May, protests exploded after locals caught wind of imminent groundbreaking on a new garbage incinerator in Hangzhou, south of Shanghai. It is the latest example of what has become widespread opposition to burning waste.

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Solar Has Won

- Adam Clare

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In Australia the amount of energy being produced by sustainable systems caused the price to fall so low it went in to the negative. This will not be the last time we see this. As more places adopt renewable energy into their power grids the old models of industry will be forced to change – meaning a better world for consumers, producers, and the environment!

Last week, for the first time in memory, the wholesale price of electricity in Queensland fell into negative territory – in the middle of the day.

For several days the price, normally around $40-$50 a megawatt hour, hovered in and around zero. Prices were deflated throughout the week, largely because of the influence of one of the newest, biggest power stations in the state – rooftop solar.

“Negative pricing” moves, as they are known, are not uncommon. But they are only supposed to happen at night, when most of the population is mostly asleep, demand is down, and operators of coal fired generators are reluctant to switch off. So they pay others to pick up their output.

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Bank: Toronto’s Trees Worth $7 Billion

- Adam Clare

One of Canada’s largest banks has announced that their economic research has concluded that in Toronto alone the tree canopy is worth $7 Billion (CAD). The non-monetary value of trees is obvious to most people and usually that’s enough to justify keeping trees around. However, there are people who only think in monetary terms and to those people we can now use the results of economic research to prove the greatness of trees.

If Toronto’s trees are worth $7 Billion, just imagine what the total value of trees are around the world!

It’s also well known that trees help manage temperature, both by blocking cold winds in winter, but also keeping the city cool in summer. Alexander said the net cooling effect on the city of a young, healthy tree is equivalent to 10 room-sized air conditioners, running 20 hours a day.

“On their own, these effects might seem small, but over the long term, these benefits make a significant contribution to environmental well-being,” Alexander said.

Beyond mitigating the need to belch out any more air pollution to cool the city, trees also provide an important role in storing pollutants already out there. The total amount of carbon currently stored in Toronto’s urban forest is estimated at 1.1 million tonnes — roughly the amount emitted by 700,000 cars a year.

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The Purpose Economy

- Adam Clare

Triple-bottom line companies and other terms that describe companies that focus on more than just profit keep coming. The most recent is what is no referred to as the purpose economy in a new book. The idea is that as we run out of resources on the planet we need to refocus how we measure and talk about economic success.

A generation of Purpose Economy pioneers, like Whole Foods Market’s John Mackey and Virgin’s Richard Branson, are challenging others to follow their lead and to create new frameworks both to do well and to do good, which raises the bar for the business community and turns successful theories into movements. Richard Branson launched the B Team, a coalition aiming to go beyond traditional corporate social responsibility, and instead embrace what they call Plan B: “a plan that puts people and the planet alongside profit.” John Mackey and his team are promoting a new model for business he calls Conscious Capitalism, which inspired his book of the same name.

Other large corporations have shown signs of new, purpose-focused frameworks as well. Some of the most traditional companies like Deloitte and Pepsi have started to put their toes in the water, as their leaders recognize that while they can’t change overnight, they can develop long-term visions to make purpose a priority. In light of this, they have taken proactive and prudent steps in that direction. Pepsi’s CEO Indra Nooyi has framed their north star as “performance with purpose” and begun to make “healthy eats” and the environment core to their success. Deloitte, a consultancy with 200,000 employees around the globe, has made it a priority to embrace a culture of purpose, realizing that successful companies must be “keenly aware of the purpose they fulfill for clients, employees, community, and other groups,” and they have integrated those goals into their business’s core activities.

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IMF: Tax the Rich to Improve the Economy

- Adam Clare

The International Monetary Fund has just completed a study that compiled data across time and space to conclude that taxation isn’t harmful for economies. Indeed, taxing the rich is actually very beneficial for any national economy because it stops inequality – which is an awful thing for both people and economic progress.

Labelled as the first study to incorporate recently compiled figures comparing pre- and post-tax data from a large number of countries, the authors say there is convincing evidence that lower net inequality is good economics, boosting growth and leading to longer-lasting periods of expansion.

In the most controversial finding, the study concludes that redistributing wealth, largely through taxation, does not significantly impact growth unless the intervention is extreme.

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