Ten Ways to Build a Better Future Together on World Earth Day

What can I do to make an impact when it comes to reversing climate change and rewilding the earth?

"Earth provides enough to satisfy every man's needs, but not every man's greed" - Mahatma Gandhi.

This a great reminder that we must strive for balance with nature rather than exploiting it for our gain. Today is World Earth Day, an annual event celebrated globally on 22nd April 22nd to raise awareness about environmental issues and promote sustainable practices to protect the planet. The first Earth Day was celebrated in 1970 and has since grown into a worldwide movement. The significance of Earth Day lies in the fact that it serves as a reminder that we all share the responsibility of protecting our planet and preserving its natural resources for future generations.

Earth Day is a time to reflect on how our daily activities impact the environment and where we can take action to reduce our impact. By promoting awareness about the importance of environmental conservation and sustainable living, Earth Day encourages us as individuals, companies, and governments to take action to address climate change and other ecological challenges, which is why I wanted to use Earth Day to set out my thoughts on what we can all do.

The Good, the Bad, and the Ugly of Changes Since 1970

It is no secret that the world has changed significantly since 1970. The global population has more than doubled from around 3.7 billion in 1970 to over 8 billion. Several factors, including advances in healthcare, improved living standards, and increased access to education, have driven this growth. However, the rapid growth of the global population has also put significant strain on the planet's resources and ecosystems, contributing to environmental challenges such as climate change, deforestation, and loss of biodiversity. Over this period, the global economy, as measured by GDP, has grown by over 3.5% a year. In addition, the total market capitalisation of world equity markets has grown from around $300 billion in 1970 to over $100 trillion, representing a significant increase in financial wealth over the past five decades. This economic growth created new opportunities for innovation, investment, and trade, leading to higher prosperity and increased economic mobility for many people worldwide. While there are certainly challenges associated with globalisation, the benefits of increased economic activity are undeniable and have contributed to significant improvements in living standards for people worldwide.

The Good:?

"A world without poverty is not a distant dream anymore, but a tangible reality that is within reach."?- Jim Yong Kim, Former President of the World Bank.

As a result of this economic growth, we have improved the lives of billions of people worldwide. The most significant is poverty reduction, with people living in extreme poverty below 10%. Many factors, including increased access to education and healthcare improvements, have provided new opportunities for people to lift themselves out of poverty.

And in the last decade, the growth of renewable energy sources such as wind and solar power as viable alternatives to oil and gas has helped reduce greenhouse gas emissions and combat climate change, one of the most significant environmental challenges facing the world today. As more countries shift towards renewable energy sources, we will likely see further reductions in greenhouse gas emissions and a more sustainable energy future. Increasing this shift is a critical component of improving our rate of decarbonisation to achieve our net zero commitments.?

The Bad:

'In the last 50 years we have lost wildlife population' - WWF

But as the global population has grown, significant environmental challenges such as climate change, deforestation, and biodiversity loss have contributed to environmental degradation and social inequality, increasing pollution levels, resource depletion, and social unrest in some areas. According to a report by IPES, three-quarters of the land-based environment and about two-thirds of the marine environment have been significantly altered by human actions. Addressing these challenges will require substantial changes in how we use and manage natural resources and efforts to reduce greenhouse gas emissions and promote sustainable development.

The Ugly:

"We are the first generation to feel the impact of climate change and the last generation that can do something about it." - Barack Obama.

The most significant is climate change. Sadly, the out-of-sight impact has been the loss of ice sheets in polar regions, which has accelerated dramatically in recent decades. According to NASA, Greenland and Antarctic ice sheets have lost over 5,000 gigatons of ice. The weight of one gigatonne of ice is approximately 20 million times greater than that of 'The Shard.' So every year, we lose over 2 billion shards worth of ice! In addition, it is contributing to rising sea levels and other environmental impacts, such as changes to ocean currents and weather patterns.

We make this even worse with pollution. Since 1970 the production of plastics has accelerated. According to National Geographic, we have created over 8 billion metric tons—most of it in disposable products that end up as trash. Less than 10% of this plastic is recycled. This plastic is ending up in our oceans. According to a study published in Science, this is increasing to an estimated 8 million metric tons of plastic waste in the sea each year, the equivalent of over 1 million Wembley stadiums full of plastic. Microplastics are in every corner of the world's oceans, with significant impacts on marine ecosystems, including harm to marine animals and disruptions to food chains.

Current negative trends in biodiversity and ecosystems will undermine progress toward 80% of United Nations Sustainable Development Goals related to poverty, hunger, health, water, cities, climate, oceans, and land. We can not continue on this path for the next 50 years. We need to lower our significant footprint and increase our resource efficiency.

"The Earth has a finite size, and we are rapidly approaching the limits of its carrying capacity. If we continue to consume resources at the current rate, we will soon reach a point of no return." - Limits to Growth Report, 1972

According to the Limits to Growth report, if current trends in population growth, resource consumption, and pollution continue, the world will face a "collapse scenario" within the next century. However, we can avoid this if we adopt a more sustainable approach to economic development, considering economic activity's social and environmental impacts.

Closer to home, here in the United Kingdom

"Britain is one of the most nature depleted countries in the world. Never has there been a more important time to invest in our own wildlife. It's time to set an example for the world and restore our once wild isles for future generations." - Sir David Attenborough, 2023

His latest BBC documentary Wild Isles highlights the urgency to invest in nature and restore the planet's biodiversity. Biodiversity is the variety of life on Earth. It includes all species of plants, animals, and microorganisms. It is what makes our planet unique and beautiful. It also sustains us by providing clean air, human health, food security and water. Restoring biodiversity is essential for the Earth to thrive; without it, the world would be much poorer. The loss of biodiversity is a significant business issue. Companies that depend on natural resources, such as agriculture, forestry, and fishing, are particularly vulnerable to biodiversity loss. For example, deforestation not only destroys the habitats of countless species but also contributes to climate change, which in turn affects the agricultural productivity of the land.

"We need to rewild the world, not just for the sake of the planet, but for ourselves. Rewilding is essential to our very humanity." Sir David Attenborough

We know that the world is facing a critical situation and that it's time to act. According to a recent Friends of the Earth study, 7 in 10 adults support the idea of rewilding areas of the country, and 8 in 10 adults agree that rewilding can help combat climate change. However, as we know, the UK is one of the world's most nature-depleted countries. Attenborough's documentaries like Wild Isles and Our World not only help raise awareness about the need for biodiversity conservation but are proving to drive behaviour change too. According to a study by the University of Exeter, The Blue Planet II series led to over a 50% reduction in single-use plastic by shoppers in the UK. The same series also heavily influenced the UK government's 25-Year Environment Plan, which focuses on rewilding and restoring nature. And The World Wildlife Fund (WWF) reported that after Our Planet was released on Netflix, there was a 3,000% increase in people searching online for information about what they could do to help the environment.

Along with documentaries like those aired on Netflix and the media attention they garner, events like COP26 and COP27 have proven that financial services have a fundamental role in reversing the damage we have done to the planet. Industry leaders and key speakers at COP26 and COP27 have also demonstrated that businesses can succeed and thrive by sustaining themselves longer when they act responsibly and work to reverse their negative impact on the world. As such, we are starting to see a growing trend towards sustainable and responsible investing, with investors increasingly seeking companies prioritising environmental, social, and governance (ESG) issues. In 2020, the value of sustainable and responsible investments in the UK reached ￡1.2 trillion, a 7% increase from the previous year, indicating a growing interest in investing in companies with a positive impact on biodiversity. But beyond businesses and big brands playing their part, and as concern for climate change steadily mounts with 8 in ten UK adults either 'very concerned' or 'fairly concerned' about climate change, you are likely asking yourself:?

'What can I do as an individual to make an impact when it comes to reversing climate change and rewilding the earth?'

I'm often asked this question, and the good news is that we still have time to take action and reverse the damage we have done to our planet. As an individual, you might think that your efforts are insignificant. Still, a tipping point is reached if over a quarter of the population participates. It can make a huge difference in achieving our goals to mitigate the impact of climate change and restore biodiversity while growing our economy more sustainably with a lighter footprint in our world. Here are ten steps to creating a world worth living in.

1. Measure:?Start by measuring your carbon footprint and environmental footprint. To help you understand your lifestyle's impact on the planet.?
2. Learn:?Educate yourself and others about the importance of biodiversity and climate change. Listen to podcasts, read books, and watch documentaries - there are lots to suit your learning style.?
3. Reduce:?Reduce your environmental footprint by driving less, using public transportation, biking, or walking, and using energy-efficient appliances and light bulbs. Reduce your meat consumption and eat a plant-based diet. Check out the Economist's banana index to understand your diet's carbon footprint and how to reduce it. Conserve energy and water at home and work. Reduce, reuse, and recycle to reduce waste and conserve resources.
4. Vote:?Whom you vote for matters. Next year is a big election year in the UK and the US. Vote for political leaders who prioritise environmental sustainability and have concrete plans to address climate change and protect biodiversity.
5. Earn:?Choose to work for a company focused on sustainable growth that balances profits and its impact on people and the planet. The good news is that more companies are becoming B-Corps and committing to this new way of doing business.??
6. Save:?Where you bank matters. Choose a bank committed to positively impacting people and the planet, not just its bottom line.
7. Spend:?Consume less, buy fewer items, look to borrow, or rent where possible—support companies that prioritise environmental sustainability and are transparent about their impact, e.g., Veja shoes. Return your items typically for a discount to help drive a circular economy where possible. e.g., Charles Tyrwhitt and their policy?'give your old shirt a second life'.?We need to encourage more companies to adopt a circular economy approach. For example, Apple is developing a closed-loop supply chain for its products to minimise waste and maximise resource efficiency. BMW uses recycled materials and remanufacturing processes to reduce waste and conserve resources.
8. Invest:?Where you invest your money matters, e.g., ISAs and Pensions can have a considerable impact—according to Nordea, investing in funds that are sustainable and are focused on impact can have 27x the effect over a lifetime than flying less, cycling to work, and giving up red meat. The FCA has helpfully developed new fund labels to help you decide. From 'Sustainable focus', funds are invested in environmentally and socially sustainable companies. 'Sustainable improvers' who engage with their companies to deliver measurable improvements in their sustainability profile over time. 'Sustainable impact' aims to invest in companies that contribute measurably to positive sustainability outcomes.
9. Give Back:?Support conservation efforts and organisations that protect our planet, e.g., WWF.
10. Spread the word:?Once you feel confident walking the walk, spread the message. When enough people make this switch, we will see a tipping point, typically when more than a quarter of the population adopts this mindset, we will see politicians and company leaders transition from today's short-term economic focus to one that is more long-term, sustainable, and balanced in its goals.

Why do clear demand signals matter??

These ten steps will create clear demand signals for politicians and CEOs to adopt more sustainable practices. Convincing decision-makers to prioritise environmental and social impact over short-term financial gain can be easy with sufficient pressure and incentive. One possible scenario is that the demand signal for sustainability comes from a generational shift. As younger generations enter leadership positions and become more economically influential, they may prioritise sustainability and impact more than previous generations and demand that politicians and CEOs do the same. This shift may likely happen in the 2030s when all the people born in the 1990s transition into leadership positions, and those born in the 2000s are in the peak earning and consumption phase. This is because, generally, younger generations tend to be more environmentally conscious and socially responsible than older generations. Therefore, as they gain more power and influence, they will push for more sustainable practices.

However, other scenarios could play out in the future. For example, demand signals could come from increased awareness of the urgency of climate change and biodiversity loss. Especially if the impacts of climate change become more severe and visible, which may happen this year, given it's an 'El Nino' year, there may be a greater sense of urgency and a stronger push for sustainable practices. El Nino means we could see more heat waves, forest fires, droughts, and floods than in 2021 and 2022. A 'Pakistan' style flood in Europe could see big calls for more urgent and radical action from the government.?

Finally change will continue as new technologies emerge that make sustainable practices more economically viable. For example, innovations in renewable energy, transportation, and food production could make it easier and more cost-effective for companies to reduce their carbon footprint and adopt more sustainable practices. In this scenario, demand signals may come from entrepreneurs, investors, and consumers who are excited about the potential of these technologies to transform industries and reduce environmental impact.

This means clear demand signals from us as voters, employees, consumers, and investors matter. Collectively we make up society. The clearer the demand signal, the more likely politicians and CEOs will be to adopt more sustainable practices.?

'Unless someone like you cares a whole awful lot, nothing is going to get better. It's not.' - The Lorax

Earth Day matters because it reminds us of the urgent need to take action to protect our planet. In addition, it serves as a call to action for us to work together to create a world worth living in.

Happy Earth Day!