💚 Going purpose over going public

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Can you believe this is our 50th love letter? Anyone here who's been with us since we released the first one back in 2020? We're excited to present you this edition in a revamped design! Our curation team brings you Patagonia's bold move and an announcement from our partner Sverker. We also feature two articles about clean energy projects in the US and the summer of climate disasters.

Announcement

Zennström Professorship at Uppsala University

Another Tomorrow's partner, climate researcher and political scientist Sverker Jagers, has been appointed guest professor at the Zennström climate professorship at Uppsala University for the upcoming year. His focus will be on how climate instruments should be developed to be both efficient and perceived as acceptable, contribute to increasing this research area at the University, as well as establish cross-disciplinary research environments. Congratulations, Sverker!

The guest professorship at Uppsala's University is funded by the Swedish entrepreneur Niklas Zennström and you can read the whole article here.

In case you missed it, here's our interview with Sverker on his recently published article in Nature Climate Change.

Article

'Going purpose' instead of 'going public'

In case you haven't heard yet, Patagonia's founder announced yesterday that he will be giving the entire company away to fight against climate change. According to founder Yvon Chouinard, it will be given to a uniquely structured trust and nonprofit, which will inject all of Patagonia's profits into saving the planet.

The company has been restructured such that the profits made after reinvesting in the company will be donated to a nonprofit called Holdfast Collective, which is devoted to fighting the environmental crisis. 

“Instead of ‘going public’, you could say we’re ‘going purpose’,” said Chouinard. “Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.”

Find out more about Patagonia's history of environmental activism here.

Article

Climate bill and clean energy projects

Following the climate bill signed by President Biden, several large corporations have announced several clean energy products. These include Toyota, Honda and LG Energy Solution, which have announced clean energy projects worth billions. However, these factories will only be ready in 2025, and electric vehicles will probably remain sparse and costly in the mean time. 

During this time of economic instability, this climate legislation gives companies greater conviction that they can profit on their investments in clean energy. By 2035, analysts predict that renewable energy investment will reach $1.2 trillion, which is significantly greater than it would have been without legislation.

Despite this, reducing emissions will continue being a challenge. Much remains to be done about educating people who will be affected by clean energy projects about their merits. 

Find out why the climate bill is controversial here.

Article

A summer of climate disasters

This summer, extreme weather has become more common - from heat waves in the US, wildfires in Europe, to floods in Asia. Although scientists cannot say for sure that climate change is the cause, experts say that it is most likely a significant contributor.

As time goes on, climate change will make severe floods more common and severe. Following a brutal heat wave in Pakistan this year, flooding occurred, submerging more than a third of the country and killing at least 1,300 people.

Although extreme weather is getting worse, reducing greenhouse gas emissions can still lessen the risk of climate disasters in the medium term. Meanwhile, adaptation - such as utilising more efficient forest management to lower wildfire risks or building infrastructure that is more durable against heavy rainfall or flooding.

Read more about the summer of climate disasters here.

Stay safe and stay curious!
/ Linnéa & Team Another Tomorrow

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