Nuclear’s Nonsense Economics | Can Carbon Clubs Curb Emissions? | SUVs’ Climate Problem

Plus: Paravel Cofounder Indré Rockefeller's Advice To Climate-Conscious Entrepreneurs

Hello and welcome to the latest edition of Current Climate.

Australia’s largest coal plant may close seven years earlier than scheduled as operator Origin Energy admits the polluting energy source is no longer financially viable. The site will become home to a large-scale battery instead.

One might expect the person tasked with reducing the country's greenhouse gas emissions to be happy to hear this. He wasn't. Australian Minister for Industry, Energy & Emissions Reduction Angus Taylor said he had been given little warning of the decision, which could leave a “considerable gap in reliable generation.” While transitioning to a predominantly renewable energy-powered system isn’t without its challenges, it’s both necessary and possible. As the Australian Energy Market Operator (AEMO) modeled in December, with appropriate investment in renewables, storage, and grid firming, the National Electricity Market (NEM) could be coal free by 2043.

Australia’s case highlights how, in some cases, businesses—especially when it’s clearly in their financial interests—may be more decisive than governments in embracing the net zero transition. One of the stories I’m highlighting this week discusses how so-called carbon clubs could speed up action at the policy-making level, too, while another looks into the persistently high cost of nuclear power versus renewable energy sources.

The more I talk, read and write about climate change, the more I want to learn about it. I’m not the only one: for Climate Talks, I spoke to Paravel cofounder Indré Rockefeller, who did just that—she’s gone back to school to take the challenge of running a sustainable business head-on.

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The Progress

Consuming less meat, especially less beef, is one of the single most effective actions individuals can take to reduce their environmental impact—but no one likes being told what to do. So the World Resource Institute experimented with the inclusion of messages such as, “small changes, big impact” and “joining a movement” on menus. It worked pretty well.

The Challenges

Last year marked a new record for the global sales of SUVs worldwide. According to IEA analysis, the number in use today is 35 million higher than just one year ago, which contributes an additional 120 million tons of CO2 emissions to the climate problem. While electrification of SUVs in 2021 increased faster than in previous years, but demand is not as strong as with smaller cars.

Climate Talks

From its inception in 2016, travel accessory company Paravel aimed to create long-lasting, high-quality products using natural materials. But a 2018 expedition to Antarctica made cofounder Indré Rockefeller realize a more holistic approach to sustainability was required to reduce the company’s environmental impact. Seeking to learn more about the subject, she enrolled in Columbia University’s master’s program in climate and society in September and says the experience has given her a new perspective on business and sustainability.  

How did the expedition to Antarctica change your view on sustainability?

The moment my phone got reception, I called my cofounder [Paravel CEO Andy Krantz]. By the end of the call, we were already scrapping products that were almost finished and starting over, because we felt this was an opportunity to say, let's not expect ‘good enough’ when it comes to a sustainable product. Let's push further. And when a supplier says they don't have an option that is recycled, then go to another supplier.

[Sustainability] became the lens through which we viewed every single opportunity, every single product from the lining to the zipper, the partnerships we created, the Code of Social Responsibility, measuring our own carbon footprint. We're taking responsibility as a business for our actions and seeing how we can mitigate the effects that we're having, and also help inspire and educate our community to come along with us. From being something that we were afraid to talk about, [sustainability] is something we are working on and that we will never be done working on.

When did you realize that you wanted to know more about the subject matter and go back to university?

I had what I considered a strong, overarching understanding [of climate change] through self-education. But I wanted to understand this issue on a deeper level—the crux of the science, the policy, the opportunities and the challenges. All of us are busy, and it's sometimes hard to [allocate] certain hours of the day, every day, to just learn, and I knew that this course would offer the structure for me to take a deep dive and also go outside my comfort zone.

The first few weeks were a complete shock to the system. I just remember coming home and my brain hurt. Now it has definitely matched my expectations, in that I have been able to dive into topics that I otherwise would not have come across and learn from inspiring professors. It tested some of my own philosophies and made me rethink a lot of what I held as standard.

Could you give me an example?

I'm taking a class right now on the circular economy. When I think about design, at Paravel, we’ve focused on using sustainable materials or materials that are recycled.

But now I'm thinking we can't stop there. That's just the beginning. How do we have a more circular approach philosophically? How can we make a product that’s perhaps easier to disassemble, and reuse its materials? How do we think about the full life cycle? How do we think about the business model to be more circular, not just the design?

Does pursuing this degree make you feel more confident in our chances of tackling the worse the impact of climate change?

It depends on the day. There have been days where I have come home after a long day of classes and I looked at my children and I started crying, because I feel helpless and unable to help them. And then there are days where I come home full of inspiration around humanity and the potential that we have as human beings to help each other and to get through this.

Would you recommend this route to founders who aspire to make a positive impact with their company?

It's not necessary to do anything as formal as what I'm doing in order to learn about [sustainability and climate change]. There are amazing, free resources available everywhere. 

It’s worth finding time to step away from the business and find a space to examine what's happening in the place where your mission and your values are aligned. It helps you return to the business with new perspectives.

Indré Rockefeller's answers were condensed and edited for brevity and clarity.

On The Horizon

Governments could lose billions in fuel-tax revenue from the shift to EVs. But this could be an opportunity for drivers to pay more fairly according to use.