Business used to be simple. Build a great product, drive demand for
it and manage costs well. Every year, shareholders would expect
profit growth, dividends and share price growth. Good companies
would deliver predictably, and their stock prices would reach lofty
But those expectations are getting harder and harder to meet, even
as the tech sector has shown fascinating (although somewhat
unpredictable) growth in the last two decades. While the recent
pandemic was a giant boost to valuations, many predictions see
prices hitting a ‘glass ceiling’ sooner or later.
What is this ‘glass ceiling’? Some think it has all to
do with the dovish central bank bond issuances, unprecedented
printing of money and negative interest rates. It’s true, but
there’s one larger factor that looms over all of that.
The ultimate limiter is this planet we live on; its resources are
finite. And thus we are seeing the results of the limits being
Over at least a decade, countless scientists, civil society leaders
and even astute businesses have warned that global warming and
climate change are the two biggest challenges of our time. For 30
years now, the UN's COP has held annual meetings, and the growing
group of global participants are signatories to a number of
agreements. Progress, however, is still slow, and the planet
continues to heat up at over the 2 degrees Celsius limit agreed to
at COP21, otherwise known as the Paris Agreements of COP21 in 2015.