Meetings at the British Parliament, US Corporate Assets at High Risk from Climate Change, Eddie Ndopu's book release

I was in London this week for meetings at the UK Parliament, plus published a new article on the impact of climate change on corporate America, and check out my friend Eddie Ndopu's inspiring new book

Dear Friends and Supporters, 

Greetings from London. I have been here in London this week to attend meetings. We’re constantly working to build cross-party political support for the things that matter the most.

To that end, Goodwill Ambassador and Global Citizen Europe board chair Sabrina Elba and I met with Preet Gill MP, the Shadow International Development Minister. She showed authentic enthusiasm towards collaborating with in the future and leveraging public support to convince other members of her Shadow Cabinet that people are interested in and care deeply about development every day - whether that be supporting the vital work of organisations like the International Fund for Agricultural Development (IFAD) or championing much-needed reforms such as Prime Minister Mia Mottley's Bridgetown Initiative.

The one thing Preet stressed is the need for more everyday citizens to be reaching out and raising their voices with her and her parliamentary colleagues; it provides a powerful case of investment when she is arguing for support for both people and the planet. Global Citizen will be having additional meetings over the summer and will be hosting events at the forthcoming Labour Conference in Liverpool in the fall.

Meeting Preet Gill, Shadow UK Development Minister, at the British Parliament

New Data Reveals Climate Change Risks To Corporate Assets In The United States

Occasionally, discussions suggest that a warming planet could bring certain benefits, principally, to countries in the global north, such as enhanced agricultural productivity; meanwhile, countries between the tropics of Capricorn and Cancer will bear the brunt of climate change. It may come as a surprise then that new data indicates that many corporate assets in the United States are at the forefront of climate change, confronting substantial challenges that exceed those faced by businesses in other countries.

Based on an analysis of over 12,000 companies and worst-case warming scenarios, the findings from Sustainalytics indicate that the average business could experience losses of approximately USD $0.45 for every $1 of cumulative operating cash generated from their ongoing business activities between now and 2050.

Here's what we need to consider:

Recent data shows that the average business could see losses of nearly half its operating cash by 2050 due to climate risks.

The utilities sector - including electricity, water, and gas - has the highest percentage of assets at high risk.

Remarkably, 50% of these high-risk assets are in the U.S., far more than in China, India, Singapore, Japan, and Brazil combined.

Wildfires, flooding, and other extreme weather events are already disrupting industries like energy and utilities.

Ultimately, new data like these metrics undermine the belief that the Global North will be immune to the impacts of climate change and can simply ride out the challenges. You can read more about these impacts in my Forbes article published this week.

Accenture’s Sustainability Innovation Challenge

This week the corporate partnerships team at Global Citizen launched the second episode of an 8-part video series highlighting Global Citizen’s Global Partner, Accenture and their Sustainability Innovation Challenge - a six-month program that empowers Accenture employees and students worldwide to build knowledge, leverage tools, and pressure-test ideas for real-world solutions to address sustainability challenges.

The second episode features Ben, a talented Software Engineer at Accenture, and his team's winning idea to increase accessibility to climate action education through technology across the globe. With the increasing impact of climate change on our lives, the importance of educating young people about climate action has become more critical than ever. 

This episode can be found on YouTube - have a watch, and see how Accenture’s employees are improving the accessibility of climate action education for future generations. Let folks know what you think in comments on LinkedIn, Facebook, and Twitter! 

Eddie Ndopu’s Book Release 

I’m so delighted to share that my dear friend, SDG and disability advocate and change maker Eddie Ndpou has recently released his first memoir “Sipping Dom Pérignon Through A Straw: Reimagining Success As A Disabled Achiever”. I had the pleasure of reading an early draft of this work and the final product is a must read. If you’ve ever had the pleasure of hearing Eddie speak at the UN or in other fora, you know his brilliant charm and charisma which exudes from this work. I encourage you to pick up a copy and make it an essential part of your summer reading.

Austria’s Sustainable Development Success: Moving From 9th To 5th In Global Rankings

Amid economic uncertainty, inflationary concerns, and geopolitical tensions, it is rare to find political leaders prioritizing sustainable development. However, earlier this year, I learned from the Ban Ki-moon Centre for Global Citizens (disclaimer: I serve on their board) that Austria had bucked the trend. They had not only made achieving the UN's Sustainable Development Goals (SDGs)—a 17-point plan to end extreme poverty and address climate change by 2030—a priority but also set a goal to increase their position in the rankings, moving from 9th to 5th place in recent years.

It is uncommon to find strong political commitment to improving performance on the SDGs, considering that globally only 12% of the goals have been achieved at the halfway mark. To understand more about the rationale behind Austria's dedication, I had the privilege of speaking with Her Excellency Karoline Edtstadler, the Federal Minister for the EU and Constitution in Austria, who oversees SDG implementation in the country.

You can read the full interview in my Forbes article HERE.

My Weekend Reading List 

Last month some of you might recall I collaborated with my good friend, former Indonesian Ambassador to the US, Dino Patti Djalal, on an article that was published in Nikkei Asia calling for more mutual respect and sincerity in West-Global South relations. I was recently forwarded this article written in response that picks up our themes and outlines where US leadership in particular can foster greater collaboration around addressing shared challenges.

• Pandemic Action Network Long Read

• What Inspires an Idea in Accenture’s Sustainability Innovation Challenge?

• Be Seen, Be Heard: Everything You Need to Know About the Campaign Getting Young People Into Politics

• We're Seeing Record-Breaking Heat Around the World. But Why?

Warmly,

Michael