Zero: The Climate Race

Discover the fascinating journey of a pioneering pharmacist who transformed a small Thai pharmacy into a global powerhouse. Explore how the company, recognized by the royal coat of arms, played a vital role during Thailand's modernization and made strides in telecommunications and healthcare. Learn about its commitment to innovation while balancing growth with social responsibility. Through historical challenges, B.Grimm’s legacy continues to thrive, emphasizing values that shape its future while contributing positively to society.

In this discussion, Daniel Bokov, a senior reporter at Bloomberg Green with a robust background in climate and Canadian politics, dives into the recent election of Mark Carney as Prime Minister. They assess Carney's potential to shift Canada from climate laggard to leader, exploring the challenges he faces in implementing effective climate policies while navigating U.S. trade relations. The conversation highlights the urgent need for Canada to lift its climate commitments amidst economic pressures, emphasizing the delicate balance between traditional energy and clean initiatives.

David Stringer, Bloomberg Green's editor in Asia, dives into the intersection of climate change and the Australian elections. He discusses how energy policies have evolved, with climate concerns overshadowed by economic issues like living costs. Stringer highlights the contrasting strategies of major parties on renewable energy and nuclear power, revealing the complexities facing regional coal communities. He also touches on Australia's potential climate leadership in the Pacific and the pivotal role of investment in renewable energy for a sustainable future.

Avinash Persaud, Special Advisor on Climate Risks to the President of the Inter-American Development Bank, dives into the hurdles that keep private investors away from developing countries. He shares insights on de-risking investments to attract capital for clean energy projects. The discussion highlights innovative financing options, including initiatives for foreign exchange liquidity and sustainability-linked bonds. Persaud also addresses the evolving landscape of carbon markets and the challenges surrounding ESG investments in a shifting political climate.

Avinash Persaud, Special Advisor on Climate Risk to the President of the Inter-American Development Bank and former advisor to Barbados Prime Minister Mia Motley, dives into the urgent need for funding in climate initiatives in developing countries. He discusses the crucial role of Multilateral Development Banks (MDBs) in channeling investments, especially as wealthier nations cut back on climate finance. Persaud also highlights innovative solutions like debt-for-nature swaps and the risks posed by shifting political landscapes that could hinder vital environmental funding.

Avinash Persaud, climate advisor to the Inter-American Development Bank and former economic advisor to Barbados, dives into how the financial system can better support climate action. He discusses the staggering gap in clean-energy investments flowing to developing countries. Persaud highlights the risks capital owners face when investing in these regions, from currency issues to political instability. He also emphasizes the need for tailored electrification strategies while exploring the broader implications of reserve currency status on global finance and fossil fuel subsidies.

Craig Trudell, Bloomberg's global automotive editor, dives into the dynamic electric vehicle landscape. He discusses Tesla's evolving status as competition ramps up, particularly with BYD's groundbreaking battery that charges in just five minutes. Traditional automakers face significant hurdles as they pivot to EVs, while China's innovations are reshaping the industry and expanding into new markets like Nigeria. The shifting political climate in the U.S. adds another layer of complexity, influencing consumer incentives and the future of the auto industry.

Priya Donti, an MIT professor and co-founder of Climate Change AI, dives into the dual nature of artificial intelligence in addressing climate change. She discusses how AI can improve weather forecasting and optimize power grids, showcasing projects around the globe that strive for environmental sustainability. However, Donti also highlights concerns about AI's energy consumption and ethical implications. The need for equitable access to AI technology and collaboration between experts is crucial in harnessing its potential for climate solutions.

In this engaging discussion, Melanie Rua, a Bloomberg Intelligence researcher and co-author of a pivotal report on water scarcity, shares alarming insights about the looming water crisis. Freshwater demand could outstrip supply by 40% by 2030, threatening up to $70 trillion of global GDP. Melanie dives into how water stress impacts industries from agriculture to e-commerce, and emphasizes the urgent need for businesses to adapt to these rising risks. She also discusses innovative technologies like desalination that could help combat these challenges.

In the time since she became Prime Minister of Barbados in 2018, Mia Mottley has become known as a moral force for action on climate change. The Bridgetown Initiative, which she launched at COP26 in 2021, transformed the conversation around climate finance – pushing rich nations to do more to support developing countries struggling with the impact of climate change. But as the US retreats from climate action, her bold vision faces new challenges. At the Sustainable Energy for All Global Forum in Barbados, she tells Akshat Rathi why she remains optimistic, and she spoke about the role of pragmatism in tackling the climate challenge. Explore further: Past episode with Achim Steiner, head of the United Nations Development Program Past episode with Avinash Persaud about the Bridgetown Initiative Past episode about the Royal Shakespeare Company’s play about the 1997 Kyoto Summit  Zero is a production of Bloomberg Green. Our producer is Mythili Rao. Special thanks this week to Siobhan Wagner, Kanika Chawla and Jessica Beck. Thoughts or suggestions? Email us at zeropod@bloomberg.net. For more coverage of climate change and solutions, visit https://www.bloomberg.com/green.See omnystudio.com/listener for privacy information.