Shocked Into Action?
by China Water Risk 18 November, 2019
Shocked into Action? We have seen some real shockers in the water and climate space this past month. So this month we take a quick look at the action/inaction… while Australian bushfires burn and Venice floods, the US has officially issued a formal withdrawal from the Paris Agreement – SAD! But the good news is that China’s still in with President Xi reiterating “strong support” with Macron.
Another shocker was new research released which says that rising seas will erase more cities by 2050. Up to 340 million people will be at risk from rising seas and coastal flooding by mid-century. But is this for real? Our team analysed various maps for Hong Kong to see which map to use to figure out the real impact.
Regardless, climate threats are real and as we have been saying on Bloomberg, Asia is exposed; the building of low carbon and resilient infrastructure will have to be stepped up. Enter the Asian Infrastructure Investment Bank (AIIB) – they want your input into their new water sector strategy. So take action now and share your thoughts with them before 10th December.
To avoid going underwater, Hong Kong can take a look at curbing its appetite for beef, which is contributing to Amazon deforestation in Brazil. Greenqueen’s Sally Ho suggests a meat tax please. There is also plant based meat, insect proteins – don’t know what these are? ADMCF’s Alison Lee expands on their recipe in a new white paper “Food for Thought”
Elsewhere, high up in the mountains, solar irrigation is also cutting agricultural emissions in Nepal. Hear from Solerico’s co-founder and CEO Caitlin Spencer on how their project reduces costs, improves resilience and helps communities.
Then, there are plastics. Recent spotlight may finally be leading to innovative action: all aboard the world’s largest solar-powered vessel in its Race for Water expedition, which has been measuring plastics pollution, raising awareness and catalyzing solutions to prevent ocean plastic waste. Their Miranda Lee tells us how it is trying to achieving these goals. Every bit counts.
Top-down pressure from tighter regulations imposed by governments also helps reduce waste. Which companies are most vulnerable to shrinking plastics? How should investors respond? WWF HK’s Peter Rawle, Jean-Marc Champagne and Sam Hilton reveal key takeaways from their latest report.
Last but not least, investors are making headway. From setting emissions reduction targets to disclosing climate scenario analyses, catch up with the First Progress Report of Climate Action 100+ as Rebecca Wright, Director of the AIGCC brings us key results. Add this to the launch of the Principles of Responsible Banking by 130 banks and the future looks much brighter.
We must leave our comfort zones. We are either shocked in to action by increasing threats or we take preemptive strikes to map water risks, build resilience and leverage opportunities. The choice is ours to make, like it or not climate change waits for no one.
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