Patagonia Says: “Earth is Now Our Only Shareholder”

Planet Over Profit

😊 The Good News - Yvon Chouinard, the founder of the outdoor clothing company Patagonia, has announced that he’ll be giving away his company to fight the climate crisis. All profits outside of those needed to run the business will be used to fund environmental and climate projects, estimated to be around $100 million each year.

🥾 Follow This Path - Patagonia has been blazing the trail for what corporate climate action should look like for years, and now they’ve taken their activism to a new level. I hope other companies will follow Patagonia’s footsteps and commit some, if not all, of their profits to fighting the climate crisis.

The Sun is Rising on Clean Energy Jobs

😊 The Good News - In a first, clean energy now provides more jobs than the fossil fuel industry, according to a report from the International Energy Agency. Around 33 million people worldwide work in the clean energy sector today, which is a big jump compared to pre-pandemic levels, partly because more governments and corporations have joined the fight for decarbonization.

🥾 Follow This Path - We must transition to clean energy if we want to combat climate change, and this report shows we are on the right path. I’m curious to see if this trend continues, as the United States, Australia, and other countries worldwide pass comprehensive climate laws.

Oh Buoy – There’s a New Type of Wind Turbine

😊 The Good News - The Norway-based company World Wide Wind has invented a new type of offshore wind turbine that is expected to generate more energy than the current most powerful turbine. The turbine features two rotating blades and will tilt with the wind while floating in the water (kind of like a buoy), and World Wide Wind is expected to have its new turbine ready for purchase by 2026.

🥾 Follow This Path - World Wide Wind claims its system can scale up to a height of 1,312 ft (400 m), allowing for a massive 40-megawatt capacity per unit. Any progress towards making clean energy more powerful, efficient, and accessible is a win for our climate. I’m excited to see how wind energy at this scale can positively affect communities around the country.

Show Me the Money (That Will Be Saved by Going Green)

😊 The Good News - A new study by Oxford University suggests that switching to clean energy will save up to $12 trillion by 2050. The cost of fossil fuels has remained relatively stable over time, the study concludes, but the cost of renewables has dropped around 10% each year. It is now cheaper to install and maintain renewable energy projects than fossil fuel ones.

🥾 Follow This Path - Money, unfortunately, talks, and for years the high cost of renewables has been used to justify climate inaction. I hope now that won’t be the case, thanks to this study. I’m also curious to see if the financial industry will push for clean energy as a sound investment.

Surprise – Cheap Public Transit Saves Emissions!

😊 The Good News - Earlier this year, Germany offered unlimited monthly train travel for just €9 in an effort to cut fuel consumption due to Europe’s energy crisis, and the results are incredible! During the three-month trial, Germany saved 1.8 million tons of carbon dioxide emissions (that’s equivalent to powering 350,000 homes for a year), and there was a 33% increase in public transit usage.

🥾 Follow This Path - Public transit is great for our climate, and Germany’s trial proves that more people will use it if it’s affordable and accessible. Spain is piloting a similar project by making train tickets free until the end of the year, and I hope other countries step up and make public transit affordable for all.

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