In his presentation on Nov. 11, Michael Mathres, '96, posed a riddle: "I am invisible, I am released when you consume things, and if left unregulated, I have the ability to cause a global crisis. What am I?"
As it turns out, there are two answers: greenhouse gas emissions and credit. In his presentation, Mathres outlined a plan for a "low-carbon economy" that he believes could help to resolve the current global economic crisis. At the end of this week, Mathres will be giving a similar presentation to Carbon Trade lobbyists and advisors of President Obama in Washington D.C.. In order for Mathres' plan to be effective, he feels it needs to be enacted over the next 10 years.
The Hamilton alumnuas is a co-founder of the Climate Capital Network, a virtual network of more than 20,000 investors, companies, and experts focused on financing solutions to climate change. Mathres has raised more than 10 million pounds for climate change activities, and in 2004 he won the Millennium Prize for Social Entrepreneurship. He has acted in an advising capacity to David Cameron, head of the UK conservative party.
One of Mathres' goals is to change the way politicians, as well as the general public, view climate change. He explained that there is a stigma attached to environmentally-friendly industry such that, "politicians can't see the opportunity for financial possibilities." He believes that one of the greatest problems surrounding climate change is that if nothing is done immediately, the economic cost will be much greater in the future.
Mathres explained that globally we are faced with two enormous crises. Right now, we are in the middle of the credit crisis, but we are yet to realize the true impact of the climate crisis. When we do, it will be much greater than the credit crisis. Said Mathres, "it won't involve just the financial markets. It will involve everything: living species, human migration, agricultural cycles, diseases, etc. etc."
Globally, we release 140 million tons of greenhouse gases every day. Our atmosphere can only handle 10 more years under this rate of carbon input. Our current mindset is that our environment is a subset of our economy. As Mathres points out, our economy cannot exist without our environment.
The presentation cited Germany as an example of renewable industry becoming financially viable. In the past 10 years, Germany has raised the amount of renewable energy sources it relies on to 14 percent of its total resources. In the process, they have created 250,000 jobs. Proponents of a low-carbon economy argue that climate change technology should not be viewed as a cost but as an investment opportunity.
Mathres proposed that President-elect Obama create a "New Low-Carbon Deal," which would encourage investors, via tax credits and tariffs, to support low-carbon technologies. Additionally, a legal framework would need to be created that would phase out carbon intensive industry. Mathres' plan relies on preexisting infrastructure to develop carbon efficient technology and provide the US with a competitive edge. "We don't want to fight against current companies like GM and Ford," said Mathres. It is integral to his plan that the U.S. "re-tool and redesign" existing industry.
It is also vital that this movement begin with the United States. "No other country can lead this movement," said Mathres. "No other country has the financial, intellectual, and human capacity to. If the U.S. leads than everyone else will follow. I believe we have the visionary leader necessary, and hopefully I'll be able to influence some of his advisors next week."
-- by Nora Grenfell '12
As it turns out, there are two answers: greenhouse gas emissions and credit. In his presentation, Mathres outlined a plan for a "low-carbon economy" that he believes could help to resolve the current global economic crisis. At the end of this week, Mathres will be giving a similar presentation to Carbon Trade lobbyists and advisors of President Obama in Washington D.C.. In order for Mathres' plan to be effective, he feels it needs to be enacted over the next 10 years.
The Hamilton alumnuas is a co-founder of the Climate Capital Network, a virtual network of more than 20,000 investors, companies, and experts focused on financing solutions to climate change. Mathres has raised more than 10 million pounds for climate change activities, and in 2004 he won the Millennium Prize for Social Entrepreneurship. He has acted in an advising capacity to David Cameron, head of the UK conservative party.
One of Mathres' goals is to change the way politicians, as well as the general public, view climate change. He explained that there is a stigma attached to environmentally-friendly industry such that, "politicians can't see the opportunity for financial possibilities." He believes that one of the greatest problems surrounding climate change is that if nothing is done immediately, the economic cost will be much greater in the future.
Mathres explained that globally we are faced with two enormous crises. Right now, we are in the middle of the credit crisis, but we are yet to realize the true impact of the climate crisis. When we do, it will be much greater than the credit crisis. Said Mathres, "it won't involve just the financial markets. It will involve everything: living species, human migration, agricultural cycles, diseases, etc. etc."
Globally, we release 140 million tons of greenhouse gases every day. Our atmosphere can only handle 10 more years under this rate of carbon input. Our current mindset is that our environment is a subset of our economy. As Mathres points out, our economy cannot exist without our environment.
The presentation cited Germany as an example of renewable industry becoming financially viable. In the past 10 years, Germany has raised the amount of renewable energy sources it relies on to 14 percent of its total resources. In the process, they have created 250,000 jobs. Proponents of a low-carbon economy argue that climate change technology should not be viewed as a cost but as an investment opportunity.
Mathres proposed that President-elect Obama create a "New Low-Carbon Deal," which would encourage investors, via tax credits and tariffs, to support low-carbon technologies. Additionally, a legal framework would need to be created that would phase out carbon intensive industry. Mathres' plan relies on preexisting infrastructure to develop carbon efficient technology and provide the US with a competitive edge. "We don't want to fight against current companies like GM and Ford," said Mathres. It is integral to his plan that the U.S. "re-tool and redesign" existing industry.
It is also vital that this movement begin with the United States. "No other country can lead this movement," said Mathres. "No other country has the financial, intellectual, and human capacity to. If the U.S. leads than everyone else will follow. I believe we have the visionary leader necessary, and hopefully I'll be able to influence some of his advisors next week."
-- by Nora Grenfell '12
