As Florida reels from the impact of Hurricane Milton, some Wall Street investors appear to be on track to profit from catastrophe bonds tied to the storm’s outcome. Cat bonds are a specialized insurance tool that can help people who've lost their homes find money to rebuild– or deliver big profits to investors who are willing to gamble on big natural disasters. As Bloomberg’s Gautam Naik has reported, last year cat bonds were the most profitable strategy for hedge funds. Naik tells Akshat Rathi ...
Oct 14, 2024•26 min•Ep. 101
Next month, when delegates from around the world meet in Baku, Azerbaijan at COP29, the biggest questions on the table will have to do with money. Can rich nations find a way to meet developing countries’ demand for up to $1 trillion each year in climate finance? Avinash Persaud, special adviser on climate change for the Inter-American Development Bank, has spent his career looking for ways to make global markets work to unlock climate financing. He says the biggest challenges arise from a simpl...
Oct 10, 2024•29 min•Ep. 100
What if major economies all just agreed to quit fossil fuels — together? To date, 13 countries have signed a fossil fuel nonproliferation treaty. The biggest is Colombia, which has a $40 billion economic transition plan to build up green sectors and replace oil and gas revenue. Now Colombia is hoping to recruit other large economies to follow suit. During a conversation at Climate Week in New York, Akshat Rathi sat down with Colombia’s environment minister, Susana Muhamad, and Brazil's chief cli...
Oct 03, 2024•34 min•Ep. 99
Scientists have been trying to understand — and mimic — the way the sun produces energy for centuries. But recreating the energy-generating process of nuclear fusion here on Earth presents an array of technical challenges. Bob Mumgaard, CEO of Commonwealth Fusion Systems, began working on some of those challenges as a doctoral student at MIT. Now backed by more than $2 billion, CFS is well on its way to making the long-held dream of nuclear fusion a reality. On this week’s Zero , Mumgaard breaks...
Sep 26, 2024•37 min•Ep. 98
In a little more than six weeks, Americans will cast their votes in a presidential election that has enormous stakes for the future of the planet. This week on Zero , Akshat Rathi sits down with energy and environment reporter Jen Dlouhy to talk about how Kamala Harris could advance US climate policy — and how Donald Trump could chip away at it. “Starting on day one, he's already said he intends to direct federal agencies to begin repealing and replacing climate regulations,” she says. At this s...
Sep 19, 2024•23 min•Ep. 97
Weather patterns have always had an impact on people and civilizations. Historians argue that El Niño may have contributed to the French Revolution, and climate variability could have led to weakening the Ottoman Empire. But as anthropogenic emissions make the planet hotter, faster, Berghof Foundation Executive Director Andrew Gilmour says the risk of conflict is growing. In the 30 years he spent working with the United Nations, Gilmour repeatedly saw how competition over resources such as land ...
Sep 12, 2024•32 min•Ep. 96
After years of research and development and billions in investment, autonomous flying taxis are finally poised to take off. Companies working on these pilotless vehicles have been quietly working on prototypes. In this bonus from The Big Take, Bloomberg reporter Colum Murphy takes a test flight in one of the first models operating in China, and his colleague Angus Whitley explains why it’s a make or break moment for the industry. Plus: Hear a past episode episode of Zero about flying cars with V...
Sep 10, 2024•17 min
Achieving net-zero carbon emissions is a massive challenge for every industry, but some have it harder than others. This week, Bloomberg Green senior reporter Akshat Rathi spoke with two Australian startups that are tackling carbon emissions in sectors whose carbon footprints are particularly intractable. Inspired by shark skin, MicroTau is creating a plastic film that makes airplanes more aerodynamic, reducing their fuel consumption. Novalith, meanwhile, is redesigning lithium battery manufactu...
Sep 05, 2024•33 min•Ep. 95
Before he founded the geothermal startup Fervo in 2017, Tim Latimer was a drilling engineer for the oil and gas industry — a job he loved. “Honestly, if it wasn't for climate change, I probably wouldn’t have ever changed my career,” he says this week on Zero . Now Latimer is applying his drilling know-how to Fervo’s wells, supercharging their energy production in the process. The company opened its first power plant in Nevada late in 2023, and is now in the process of opening another plant in Ut...
Aug 29, 2024•39 min•Ep. 94
The “cold chain” that delivers our food is inconspicuous but vast. The US alone boasts around 5.5 billion cubic feet of refrigerated space; that’s 150 Empire State Buildings’ worth of freezers. Now, the developing world is catching up. On Zero , Nicola Twilley, author of Frostbite: How Refrigeration Changed Our Food, Our Planet, and Ourselves , discusses how refrigeration became so ubiquitous and what our reliance on it means for our palates and the planet. Explore further: Past episode with Sta...
Aug 22, 2024•31 min•Ep. 93
This week on Zero, reporter Akshat Rathi sits down with Renee Salas, an emergency medicine physician at Massachusetts General Hospital and Harvard Medical School and a leading expert on the health impacts of global warming. The intersection of health and climate change is a growing area of research, and an increasingly urgent one: Heat deaths among seniors, for example, are projected to increase 370% by mid-century. But even the young and relatively healthy are at risk. “The take-home I want eve...
Aug 15, 2024•30 min•Ep. 92
Upgrading the grid for a net-zero world isn’t just a matter of building new infrastructure. Yes, miles of additional cables will be needed, as will more transformers, more substations and more engineers and technicians. But plenty of existing technology will also need to be updated. On the third episode of Zero ’s grid series, TS Conductor founder Jason Huang discusses the material science breakthroughs that have enabled his company to create cables that have twice the conductivity of existing c...
Aug 08, 2024•29 min•Ep. 91
As the world moves away from fossil fuels, the electricity grid will need to be able to handle a greater and greater load. In the second installment of Zero’s grid series, Akshat Rathi sits down with Scottish Power CEO Keith Anderson to talk about what that looks like in the UK. They discussed the promise of GB Energy, the challenges of hiring qualified engineers, and what the new Labour government can do to speed up the UK’s energy transition. Explore further: Past Grid Series episode with Nati...
Aug 01, 2024•29 min•Ep. 90
Even before we turn on a light switch or plug an appliance into an electric outlet, the atoms that power our daily life have traveled a long journey across the grid to reach our homes. And to meet the demands of a net zero future, that grid will need an upgrade. BloombergNEF analysis estimates that the world will need to nearly double its grid network to 111 million kilometers– a distance almost three quarters the way to the sun– by 2050. How will we get there? Former BNEF grid expert Sanjeet Sa...
Jul 25, 2024•34 min•Ep. 89
Lucie Pinson is a climate activist focused on the banks that fund fossil fuel projects. But she doesn’t march, chant, picket corporate headquarters, or glue herself to the road. Instead, she and her team at the Paris-based nonprofit Reclaim Finance get to know Corporate Social Responsibility officers, trawl through company statements and portfolios, and join shareholder calls. Reclaim Finance’s strategy is all about finding ways to pressure big financial institutions from the inside– and it work...
Jul 18, 2024•28 min•Ep. 88
At the Bloomberg Green Festival, Akshat Rathi sits down with voting rights advocate Stacey Abrams and Ari Matusiak, who leads the nonprofit Rewiring America. Together, Abrams and Matuisiak are trying help middle and low-income families access the tax breaks that can help them affordably electrify their homes. They discussed why household emissions are such a big deal, how to connect existential questions about the future of the planet to kitchen-table decisions, and whether Joe Biden is still th...
Jul 12, 2024•29 min•Ep. 87
In fractured times, what does it take to reach agreement? That’s the question writers Joe Murphy and Joe Robertson set out to explore in a new play about the drama of climate negotiations. Kyoto , now running at the Royal Shakespeare Company’s Swan Theater in Stratford-upon-Avon, tells the story of the 1997 Kyoto Summit as seen through the eyes of Don Pearlman, a notorious fossil fuel lobbyist and chain-smoking lawyer dubbed “the high priest of the Carbon Club” by der Speigel . Actor Stephen Kun...
Jul 09, 2024•26 min•Ep. 86
Tackling climate change now requires not just reducing planet-warming emissions to zero, but also finding a way to draw down existing carbon dioxide from the air. Over the past few years, tech companies have taken the lead to seed hundreds of startups that want to sell carbon removal credits and help companies meet climate goals. But the failure of a major startup, Running Tide, has raised questions about the long-term viability of the market. This week on Zero, we hear from Nan Ransohoff, head ...
Jul 02, 2024•32 min•Ep. 85
Earlier this month, tech billionaire Bill Gates broke ground on a new nuclear plant in Kemmerer, Wyoming– a historic coal town. Gates tells Zero why he hopes the plant, which uses sodium for cooling, rather than water, will be the first of many in the country– no matter who wins this year’s election. “The idea of the US being more energy secure and US innovation allowing us to export, those things are still somewhat bipartisan in nature,” he says. Plus, he weighs in on AI as both a major generat...
Jun 25, 2024•26 min•Ep. 84
We are living through the hottest year on record. That’s not news, but growing climate impacts make bigger and bigger news. At 1.3C of warming beyond pre-industrial levels, people are reckoning with a planetary system that’s out of whack. It’s not like the scientists didn’t see worsening impacts coming, but many of them have been surprised by the ferocity with which some have played out. On this week’s episode of Zero, Bloomberg Green’s Akshat Rathi speaks with his colleague Eric Roston, and Tex...
Jun 20, 2024•21 min•Ep. 83
The 2016 fire that encircled the oil-producing town of Fort McMurray in Alberta, Canada, forced more than 80,000 people to evacuate and left billions of dollars in damage in its wake. It was a disaster of record-breaking proportions, but also an inevitable byproduct of mankind’s obsession with burning fossil fuels. In this episode, John Vaillant, author of Fire Weather: A True Story from A Hotter World , explains how Canada’s fossil fuel industry came into being, why its existence made the Fort ...
Jun 13, 2024•31 min•Ep. 82
All of Japan's 54 nuclear reactors were shut down after the 2011 earthquake and tsunami. As the country's energy needs soar, debate is heating up over whether to bring the world’s largest nuclear plant back online. In this bonus from The Big Take Asia, host K. Oanh Ha speaks to reporter Shoko Oda about her visit to the Kashiwazaki Kariwa plant and the challenges to rebooting it. See omnystudio.com/listener for privacy information.
Jun 10, 2024•17 min
Over the past 18 months, Tesla has missed its sales goals, seen its share price fall and waded through a series of dramatic decisions from Chief Executive Officer Elon Musk, who cut car prices, fired much of the Supercharger team and announced nebulous plans to release a robotaxi. All of that looks like a pivot away from the original mission of making mass-market electric cars, but does Tesla going off course really matter to the EV transition? On this week’s Zero , Bloomberg Opinion columnist L...
Jun 06, 2024•28 min•Ep. 81
Depending on who you ask, AI is either going to save the world or end it. The technology’s capacity for data-crunching and problem-saving can help predict weather events, making it easier to optimize power grids, prepare for natural disasters, and maximize crop output. But artificial intelligence is also energy intensive – and easy to apply to ethically questionable ends. For all of these reasons, Priya Donti, professor of electrical engineering and AI at MIT, decided to found Climate Change AI,...
May 30, 2024•30 min•Ep. 80
Microsoft’s recent push to capitalize on artificial intelligence has made it the world’s most valuable company. But according to new figures, that ambition is coming at the expense of its climate goals. In 2020, the company pledged to be carbon-negative by the end of the decade. Instead, its emissions rose 30% between 2020 and 2023. Microsoft President Brad Smith says the company isn’t giving up on its green goals — and that the good AI can do for the world will outweigh its environmental impact...
May 23, 2024•24 min•Ep. 79
After 14 years as a member of Parliament for the UK’s Conservative Party, Chris Skidmore quit the government in January — an act of protest over Prime Minister Rishi Sunak’s decision to allow new oil and gas licenses. Skidmore says the party has lost its way when it comes to climate issues, costing the UK lives, jobs and opportunities for economic growth. In this episode, Skidmore also discusses the Net Zero Review he published while in office, and talks through climate solutions emerging outsid...
May 16, 2024•36 min•Ep. 78
Five years ago, the Green Party celebrated its best-ever results in European elections, ushering in a new era of legislative progress But Covid-19, inflation, supply chain woes and Russia’s war in Ukraine stalled its ambitions. Now, in the face of lagging poll numbers, Dutch Member of European Parliament Bas Eickhout is trying to convince voters that the party’s vision of an equal and ecological Europe is still relevant – and isn’t too costly. Explore further: Past episode with Daniel Fiorino on...
May 09, 2024•40 min•Ep. 77
Africa currently loses between $7 billion and $15 billion a year because of climate change. If that trend continues, the sum could reach $50 billion by 2030. But African Development Bank President Akinwumi Adesina sees a way forward. He describes the financial instruments the bank is using to encourage investors to fund green development projects across the continent. Adesina talks about making climate investments more attractive globally, and unpacks the projects the bank is already funding – f...
May 02, 2024•36 min•Ep. 76
Denmark’s Vestas has been making wind turbines exclusively since 1989 — well before the notion of an energy transition was commonplace. But that foresight hasn’t made for smooth sailing: When Henrik Andersen joined Vestas in 2013 as a board member, the company was deep in debt and shareholders were worried. A decade later, Andersen is CEO and has pulled Vestas out of trouble yet again, just as wind power is starting to play a critical role in the global energy transition. Andersen describes some...
Apr 25, 2024•36 min•Ep. 75
If you've paid much attention to the wind industry lately, the news isn’t great. Building new projects is getting more expensive and getting government permission to do it is taking longer than ever. Even major players like Orsted, Vestas and Siemens are struggling. But it's not all negative — there are still big players winning in wind. One of them is Copenhagen Infrastructure Partners. This week, Bloomberg Green senior reporter Akshat Rathi speaks with CIP founder and managing partner Jakob Ba...
Apr 18, 2024•33 min•Ep. 74
