Issue #383 - Can Sustainable Finance Be The All-In-One Solution? September 29th, 2022

Jeremy Siegel, a Wharton Business School professor, criticized Jerome Powell and the Fed for the policies adopted by the US central bank. Siegel said that the current high levels of inflation, which will considerably damage workers, were caused by a series of wrong choices made especially right after the pandemic.

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To relate to the previous news, the past week marked an important moment for our economies. Fed chairman Jerome Powell said that the Fed projects to hit 4.4% interest rates by the end of 2022, no matter if this can cause a recession. Unfortunately, the correlation between higher rates and unemployment will have difficult consequences.

Negotiating a pay raise is such a daunting task that surveys have found that most employees will outright avoid it. Despite this, there are things that you can do or not do to improve your chances of successful negotiation and make it seem less scary and more accessible.

Fossil fuel still makes up most of the energy sources used to mine Bitcoin. Even if the network behind the first cryptocurrency by market capitalization tried to move to renewable energy, it is still struggling to move to a more sustainable model for Bitcoin.

Opera, one of the most popular browsers, will partner with Elrond to facilitate a massive adoption of blockchain technology. Elrond, which is not energy intensive and guarantees fast transactions, will help Opera to further improve its services related to blockchain technology and Web3.

And in response, the top asset manager HSBC decided to exclude thermal coal companies from its funds. The policy adopted by HSBC will allow the manager to reach its sustainable goal by 2040 since it still doesn’t apply to the existing products. This decision was for sure influenced by the ESG controversy that recently involved HSBC, which also led to the resignation of its former global head of responsible investing – Stuart Kirk.

In the meantime, Jamie Dimon, JPMorgan Chase Chief Executive, assessed that the US should invest more in the fossil fuel industry to favor economic growth in the country and reduce emissions.

By 2050 the city of Tokyo should include a high-tech, carbon-neutral mini-city created on unused land in its bay area. One of the tools the city will use to reach this ambitious goal is a sharing economy.

Among the regions that realized the importance of green and sustainable finance, Southeast Asia is playing a major role. MUFG Bank, as well as other top banks in the area, were responsible for setting the guidelines to follow national decarbonization strategies in the region. However, not all the members of the ASEAN (Association of Southeast Asian Nations) have published their plans to reach decarbonization. That’s why banks also followed the technologies compiled by the Economic Research Institute for ASEAN and East Asia.

Startups focused on limiting the effects of climate change are attracting more investors. African fintechs make no exception, and among them the most interesting project we can list is PEG Africa, recently acquired by the UK-based Bboxx, which reached 1 million customers thanks to its pay-as-you-go solar system.

As Warren Buffett suggested to shareholders in the 80s, during a period of high inflation, the best businesses to buy have rapid growth as one of their more relevant characteristics, precisely because they can be a hedge against inflation and even result in higher earnings. The current economy proves that Buffett’s consideration is right – of course: thematic growth shows that even during hard times innovation can be a powerful tool for entrepreneurs and investors. Among the sectors that experienced a growth more rapid than inflation, we find Renewable Energy.