Summit of Promises
With climate change being an existential crisis, it’s obvious that the world is trying to do something about it. In the last few years, the United States put climate change on the back burner. Quite literally, in fact, as temperatures continued to rise in the United States as pollution hit a high. However, as the crisis is as dire as ever, there were some encouraging words exchanged by President Biden and other leaders at the 2021 Climate Summit.
The first major promise was made by Biden, who vowed to cut U.S emissions by half in the next 10 years. The way his infrastructure plan is laid out with things like electric vehicle charging stations, it’s likely he will continue to focus on the climate. On a more surprising note, Jair Bolsonaro, the President of Brazil, pledged to be carbon neutral by 2050. Bolsonaro has been one to deny climate change, and he is the one to blame for the deforestation of the Amazon Rainforest, so it was nice to see a change of mind. Many big players, such as China and Russia, have also pledged to decrease their carbon emissions, with Putin placing an importance on methane. Many praised President Biden for holding the summit as it showed the US taking leadership on the international stage.
For you investors, this is a friendly reminder that the world is changing. As we push for a greener future, some opportunities no longer exist, but areas like electric vehicles are chock full of them. Make sure that your portfolios are constantly adapting to the current situation, as opportunities in different sectors will always exist.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.