Andrew Eil, the Head of Climate Risk at TCS North America, considers himself a futurist – one deeply involved in understanding our shared future amidst the climate crisis. With contributions to publications like the Observer and Illuminem, Andrew brings a great understanding of climate risk to the table. His recent work on the World Economic Forum’s Annual Survey has provided key insights into the future state of our planet under the pressure of climatic changes, a future that will necessitate cooperation between governments, businesses, and individuals alike.
In this episode, Andrew discusses the imminent climate crisis and the key role of startups and venture capital in the fight against it:
- Andrew highlights the warnings given by the World Meteorological Organization (WMO) regarding impending climatic disasters. Despite the perception that severe impacts are decades away, he warns that some effects are either already here or not that far off. Severe heatwaves, droughts, and unusual flooding are symptoms of our nearing stretch target for the Paris Agreement of 1.5 degrees Celsius. Andrew shares that despite measures to curve emissions and transform economies, many of these impacts are now unavoidable and escalating.
- As we continue to experience the impacts of climate change, how can we better manage supply and demand during extreme weather? Andrew explains that demand response programs can prevent blackouts by reducing peak demand. Similarly, energy efficiency can lessen overall energy consumption. He cautions about the crises that can arise from mismatched supply and demand, which can result in price spikes and other issues.
- Andrew believes that startups and venture capitalists will play a huge role in mitigating climate risks. He points to the potential of technologies like carbon capture and storage or renewable energy sources like wind and solar power – all of which are ripe for startup innovation. These can lessen climate crisis impacts and integrate into existing energy markets. Startups should be at the forefront of these efforts, using their understanding of the near-term future and innovative technologies to combat escalating climate challenges.
Interested in learning more? Check out this article Andrew wrote for Illuminem – WEF 2023 risk report: climate disasters are coming if we don’t act now
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