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Posted on on February 17th, 2008
by Pincas Jawetz (

in… we made the following announcement and we also posted the program of that very unusual event that used the UN as a stage:

February 14, 2007, Investor Summit On Climate Change to Follow Upon the UNGA President’s Summit at the UN in New York City.
Posted on on February 11th, 2008, by Pincas Jawetz ( PJ at

“The following meeting represents stock-holder power of about $30 trillion, as per a statement made today by Fiona Harwey of the London Financial Times, at the meeting in the UN Trusteeship Council Auditorium at the UN Headquarters. The President of the UN General Assembly, Dr. Srgjan Kerim, called for this meeting in order to build synergism that helps further progress on the road from Bali to Copenhagen. The idea is that business, NGOs, academia and media are needed in this transition – not only the government representatives. Now business will be the first to pick up, already this Thursday, that is after the Monday-Wednesday official meetings. Morgan Stanley, Lehman Brothers Holdings, Deutsche Bank, Credit Suisse Group, Merrill Lynch, Goldman Sachs Group, UBS, Bank of America, General Electric, Procter & Gamble, Caterpillar, DuPont, are part of this exercise.

Today, February 11, 2008, at a press conference, Sir Richard Branson called for the creation of a WAR ROOM to fight global warming/climate change. The enemy in this war is the fossil carbon being pushed into the atmosphere. He, and later Mr. Yvo de Boer of the UNFCCC refused to put their finger on three countries that refuse to do something positive about the issue, but suggested that an international system must be put in place with incentives for business to start moving in the right direction. Sir Richard even said that he has already 5 people in his mind that could head this War Room – Al Gore is one of them. This will be people with business savvy and he expects to put in the leaders hand half a billion dollars as a stimulant. There was a lot of talk of business that moved away from ignorance and embraced now awareness – and this is not just “greenwash.” OK – the Thursday meeting is now just-in-time to prove the point.”

We said that we expected to be there and report on the proceedings – we were thanks to an invitation from the organizers – and now we will try to put forward some of our impressions. We did not cover the February 11-13, 2008 UN exercise from inside the UN, this because of the UN Department of Communications and Public Information long-standing position that our writing truth about sustainable development and climate change issues is not to the liking of some of these employees of the UN.

Ceres (pronounced “series”) is a national network of investors, environmental organizations and other public interest groups working with companies and investors to address sustainability challenges such as global climate change. Formerly the Valdez Principles, now called the CERES Principles for environmentally sound business practices were drafted by a Coalition of environmental organizations, environmentally friendly businesses, and labor unions.

Things are confusing a bit. The Letters CERES also stand for California Environmental Resources Evaluation System headquartered in Sacramento California. But the CERES of our meeting has its headquarters now in Boston Massachusetts, though it started out as an organization that was tied together by the San Francisco headquartered Sierra Club and other San Francisco based organizations. Please see

In our case here Ceres or CERES stands for – Coalition for Environmentally Responsible Economies and we know that some might get confused. We will thus use plain CERES and expect that the content of the message fits for both meanings.

The CERES Principles:

In the fall of 1989, Ceres announced the creation of these Principles, a ten-point code of corporate environmental conduct to be publicly endorsed by companies as an environmental mission statement or ethic. Imbedded in that code of conduct was the mandate to report periodically on environmental management structures and results. In 1993, following lengthy negotiations, Sunoco became the first Fortune 500 company to endorse the Ceres Principles. Today, the tide has changed dramatically. Over 50 companies have endorsed the Ceres Principles including 13 Fortune 500 firms that have adopted their own equivalent environmental principles.

By endorsing the Ceres Principles or adopting their own comparable code, companies not only formalize their dedication to environmental awareness and accountability, but also actively commit to an ongoing process of continuous improvement, dialogue and comprehensive, systematic public reporting. Endorsing Ceres companies have access to the diverse array of experts in our network, from investors to policy analysts, energy experts, scientists, and others.

The Ceres Principles are:

1. Protection of the Biosphere
We will reduce and make continual progress toward eliminating the release of any substance that may cause environmental damage to the air, water, or the earth or its inhabitants. We will safeguard all habitats affected by our operations and will protect open spaces and wilderness, while preserving biodiversity.

2. Sustainable Use of Natural Resources
We will make sustainable use of renewable natural resources, such as water, soils and forests. We will conserve non-renewable natural resources through efficient use and careful planning.

3. Reduction and Disposal of Wastes
We will reduce and where possible eliminate waste through source reduction and recycling. All waste will be handled and disposed of through safe and responsible methods.

4. Energy Conservation
We will conserve energy and improve the energy efficiency of our internal operations and of the goods and services we sell. We will make every effort to use environmentally safe and sustainable energy sources.

5. Risk Reduction
We will strive to minimize the environmental, health and safety risks to our employees and the communities in which we operate through safe technologies, facilities and operating procedures, and by being prepared for emergencies.

6. Safe Products and Services
We will reduce and where possible eliminate the use, manufacture or sale of products and services that cause environmental damage or health or safety hazards. We will inform our customers of the environmental impacts of our products or services and try to correct unsafe use.

7. Environmental Restoration
We will promptly and responsibly correct conditions we have caused that endanger health, safety or the environment. To the extent feasible, we will redress injuries we have caused to persons or damage we have caused to the environment and will restore the environment.

8. Informing the Public
We will inform in a timely manner everyone who may be affected by conditions caused by our company that might endanger health, safety or the environment. We will regularly seek advice and counsel through dialogue with persons in communities near our facilities. We will not take any action against employees for reporting dangerous incidents or conditions to management or to appropriate authorities.

9. Management Commitment
We will implement these Principles and sustain a process that ensures that the Board of Directors and Chief Executive Officer are fully informed about pertinent environmental issues and are fully responsible for environmental policy. In selecting our Board of Directors, we will consider demonstrated environmental commitment as a factor.

10. Audits and Reports
We will conduct an annual self-evaluation of our progress in implementing these Principles. We will support the timely creation of generally accepted environmental audit procedures. We will annually complete the Ceres Report, which will be made available to the public.

CERES’ Mission:
Integrating sustainability into capital markets for the health of the planet and its people.

Accomplishments: At its founding in 1989, Ceres introduced a bold new vision to the business community. That vision is of a world in which business and capital markets promote the well being of human society and the protection of the earth’s biological systems and resources. Ceres advances its vision by bringing investors, environmental groups and other stakeholder together to encourage companies and capital markets to incorporate environmental and social challenges into their day-to-day decision-making. By leveraging the collective power of investors and other key stakeholders, Ceres has achieved dramatic results, among those:

  • Recipient of numerous awards including the 2006 Skoll Award for Social Entrepreneurship and the Fast Company/Monitor Group Social Capitalist award, and was named one of the 100 most influential players in the corporate governance movement by Directorship Magazine.
  • Launched the Global Reporting Initiative (GRI), now the de-facto international standard used by over 1200 companies for corporate reporting on environmental, social and economic performance.
  • Joined with Yale University and insurance firm, Marsh, to create the Sustainable Governance Forum on Climate Risk, a unique leadership development program designed to help corporate leaders address the problem of climate risk.
  • Spearheaded dozens of breakthrough achievements with companies, such as Nike becoming the first global apparel company to disclose the names and locations of its 700-plus contract factories worldwide in 2005, Dell Computer agreeing in June 2006 to support national legislation to require electronic product recycling and “takeback” programs, and Bank of America announcing a $20 billion initiative in March 2007 to support the growth of environmentally sustainable business activity to address global climate change.
  • Brought together 500 investor, Wall Street and corporate leaders at the United Nations in 2005 to address the growing financial risks and opportunities posed by climate change. The ground-breaking meeting included 28 U.S. and European investors approving a 10-point action plan seeking stronger analysis, disclosure and action from companies, Wall Street and regulators on climate change. Another investor summit will be held in February 2008.
  • Launched and directs the Investor Network on Climate Risk (INCR), a group of more than 60 leading institutional investors with collective assets of over $4 trillion.
  • Published cutting-edge research reports to help investors better understand the implications of global warming. Among those: a January 2007 report, Climate Risk Disclosure by the S&P 500, an August 2006 report, From Risk to Opportunity: How Insurers Can Proactively and Profitably Manage Climate Change, and a March 2006 report, Corporate Governance and Climate Change: Making the Connection, which analyzed how 100 of the world’s largest companies are addressing the business challenges from climate change.

After the February 14, 2008 event at the UN – Ceres Press people provided the following press release:

Peyton Fleming, Ceres, 617-733-6660,  fleming at
Patricia Charles, UN Foundation, 440-506-9564,  patricia at

U.S. and European Investors Tackle Climate Change Risks and Opportunities. Investors Make Bold Commitments to Energy Efficiency and Other Clean Technologies, Require Closer Scrutiny of Carbon-Intensive Investments

NEW YORK CITY, NY — Nearly 50 leading U.S. and European institutional investors managing over $1.75 trillion in assets today released a climate change action plan at the United Nations that will boost investments in energy efficiency and clean energy technologies and require tougher scrutiny of carbon-intensive investments that may pose long-term financial risks. Additionally, European investors managing $6.5 trillion in assets supported the action plan “in principle.”

The action plan was announced at the Investor Summit on Climate Risk, hosted by Ceres and the United Nations Foundation, attended by more than 450 investor, financial and corporate leaders from around the world. Signatories to the action plan include state treasurers, controllers, pension fund leaders, asset managers and foundations from London, California, Florida, New York, Connecticut, North Carolina, Pennsylvania and a dozen other states.

“Our goal is to transform the world economy into one that is clean, green and sustainable,” said California State Treasurer Bill Lockyer, one of the 49 signatories, who serves on the board of the leading pension funds, CalPERS and CalSTRS, which collectively manage more than $500 billion in assets. “California’s public pension funds have already committed over $800 million to this effort through investments in environmental technology. And they are actively pressing the corporate world to fully assess and disclose the risks and opportunities climate change presents for their business operations.”

“With today’s action plan, investors are advancing the need for closer scrutiny of investments to include the financial risks of climate change, while also harnessing emerging opportunities,” said Florida Chief Financial Officer Alex Sink. “Florida is on board as the first State Treasury in the nation to require fund managers to disclose how they incorporate climate risk into prudent investment management.”

Noting that climate change presents both material risks and significant opportunities, the investors pledged to collectively invest $10 billion in clean technology opportunities over the next two years and to incorporate green building standards — such as LEED (Leadership in Energy Efficiency and Design) and Energy Star — into their investment decisions. Calling energy efficiency “one of the fastest, easiest and cheapest ways to significantly reduce emissions and improve the bottom line,” the investor group pledged to reduce energy use in core real estate holdings by 20 percent over the next three years.

A new McKinsey Global Institute (MGI) report, also announced at the investor summit, concludes that major investments over the next decade in energy productivity — the level of output achieved from the energy consumed — could earn double-digit rates of return for investors. Such investments would cut global energy demand growth by at least half and achieve up to half of the reductions of greenhouse gas emissions that experts say is required to prevent the world’s mean temperature from increasing by more than 2 degrees centigrade.

The action plan calls for a series of specific steps by investors to address the growing risks and opportunities from climate change. The nine goals include policy actions aimed at the Securities and Exchange Commission (SEC) and Congress, engagement with companies to improve their disclosure and responses to climate change, minimizing climate investment risks and maximizing climate-related investment opportunities. Among the investor commitments:

  • Support clean technology, with a goal of deploying $10 billion collectively over the next two years.
  • Aim for a 20 percent reduction in energy used in core real estate investment holdings over a three-year period, and consider green building standards in making investment decisions.
  • Require and validate that investment managers, investment consultants and advisors report on how they are assessing climate risks in their portfolios, whether from new carbon-reducing regulations, physical impacts or competitive risks.
    Encourage Wall Street analysts, rating agencies and investment banks to analyze and report on the potential impacts of foreseeable long-term carbon costs, in the range of $20 to $40 per metric ton of CO2, particularly on carbon-intensive investments such as new coal-fired power plants, oil shale, tar sands and coal-to-liquid projects.
  • Push the SEC to issue guidance leading to full corporate disclosure of climate risks and opportunities.
  • Push Congress for a mandatory national policy to reduce national greenhouse gas emissions in accordance with the 60-90 percent reductions below 1990 levels by 2050 that scientists suggest is urgently needed to avoid the worst and most costly impacts from climate change.

“This action plan reflects the many investment opportunities that exist today to put a dent in global warming pollution, build profits and benefit the global economy,” said Mindy S. Lubber, president of the Ceres investor coalition and director of the Investor Network on Climate Risk. “Leveraging the vast energy efficiency opportunities at home and abroad holds especially great promise for investors.”

“Thanks to the leadership of many participating at this summit, the idea that climate risk affects many industries around the world that are embedded in our portfolios is being absorbed into the very fiber of our financial markets, from banking to investment, from insurance to re-insurance,” said Connecticut State Treasurer Denise Nappier.

“As institutional investors, we need solid information about a company’s environmental risks and opportunities so that we can grow our bottom line while shrinking our carbon footprint,” said California Controller John Chiang.

“Energy efficiency provides the biggest opportunity for helping developed and developing countries alike,” said Timothy Wirth, president of the United Nations Foundation. “Investors have a critical role in helping drive this new energy economy forward. Their commitments here today are groundbreaking and will not only reduce the devastating impacts of climate change but will help grow the global economy at the same time.”

The summit comes as worldwide investor attention on climate change dramatically increases. In the last two years, investor and asset manager participation in the Investor Network on Climate Risk has more than doubled, to more than 60 institutional investors and with collective assets totaling $4.5 trillion. At today’s summit, Deutsche Asset Management, which manages over $800 billion in assets, announced it was joining INCR, increasing INCR’s total member assets to over $5 trillion.

Today’s climate risk meeting was hosted and organized by the United Nations Foundation, the United Nations Fund for International Partnerships and Ceres, which directs the Investor Network on Climate Risk. Ceres is a U.S. coalition of investor and environmental leaders that has spearheaded national and international investor activity on climate risk issues. A webcast of the summit and press conference can be found at


About Ceres and INCR

Ceres is a leading coalition of investors, environmental groups and other public interest organizations working with companies to address sustainability challenges such as climate change. Ceres also directs the Investor Network on Climate Risk (INCR). For more information, visit and
About the United Nations Foundation:

The UN Foundation was created in 1998 with entrepreneur and philanthropist Ted Turner’s historic $1 billion gift to support UN causes and activities. The UN Foundation builds and implements public-private partnerships to address the world’s most pressing problems and also works to broaden support for the UN through advocacy and public outreach. The UN Foundation is a public charity. For more information, visit
About the United Nations Fund for International Partnerships (UNFIP):

UNFIP was established by the Secretary-General in March 1998 to serve as the interface in the partnership between the UN system and the UN Foundation — the public charity responsible for administering Ted Turner’s $1 billion contribution in support of UN causes. The UN Partnership with Ted Turner’s Philanthropy has enabled the UN family to find creative solutions to global problems. The success of this partnership has led to the evolution of the United Nations Office for Partnerships, which manages UNFIP, the UN Democracy Fund, as well as Partnership Advisory Services and Outreach. The Office serves as a gateway for facilitating UN-civil society partnership initiatives in support of the UN system’s programme of work. For more information, visit

Back on January 10, 2008, CERES released a report on the top 40 banks that we covered in:… and…

UNSG Ban Ki-moon left for Washington DC a day earlier then expected, this because of the memorial to Chairman Tom Lantos and a Model UN event, UNGA President Dr. Srgjan Kerim took a day off after the previous three days, so the UN stars were represented at the CERES event by Mr. Amir A. Dossal, Executive Director, UN Fund for International Partnerships. The Real two stars of the day were, in our opinion the luncheon speaker AL GORE, who post-Nobel Prize is now Chairman, Generation Investment Management. He will personally show now how money is made by doing the right thing, and Mr. VINOD KHOSLA, who post-money making Silicone Valley’s Sun Microsystems is now the CEO of future money-maker Khosla Ventures. But saying this we are probably extremely unfair to about 20 others who made solid contributions to the event by telling us what their companies or Funds are doing. All of the above under the skilled baton of Mindy S. Lubber, the President and CEO of CERES and Director, Investor Network on Climate Change. When all was over, at about 5:30 p.m., all were invited to a reception at the Institute of International Education, across the Street of the UN, to a room that was once the reception room of the Danish Mission to the UN, and as we were told, its Danish decor should remind us all of the deadline set by the Copenhagen COP 15 of the UNFCCC.

In this posting we intend to cover only the presentations by Al Gore and Vinod Khosla. About much of the remaining material we accumulated at the meeting, and our notes thereof, we will write in following articles.

AL GORE was introduced by Jeff Skoll who produced the movie “An Inconvenient Truth.” Now let us keep in mind that for the participants in CERES – people that go to the bottom of the problem – this has turned to a CONVENIENT OPPORTUNITY. These people would not be sitting in the UN Delegates Dining Room if not for the fact that their FIDUCIARY RESPONSIBILITY brings them there. Their responsibility is to make money for their investors and this means plans for the long-range, not just a short-range kill that might later leave them swimming on dry land. These are people that realize post-US mortgage-crisis, that short term gains have led to many-fold long term losses – and they will do anything not to lose their jobs by watching climate change turn into another black hole. The luncheon was sponsored by Swiss Re and opened by Richard H. Murray, Managing Director & Chief Claims Strategist of Swiss Re. There is nobody like him that can put a finger at money losses from climate change. It was his company that had to pay in the end for a large part of the losses from the latest large hurricanes – and he had never doubts that these losses were caused in the ultimate by our emissions of CO2 into the atmosphere. We can say this with certainty because we talked with him in the past, and his company was a backer of our efforts years ago when the Geneva registered NGO CMDC, and later under the ISEO name, started to point out the need for Sustainable Energy and we are going back to the beginning of the 1990s. Swiss Re was also part of the original WBCSD – the World Business Council for Sustainable Development that made its presence felt at the Rio Summit in 1992.

We know that the solution is to put a price on carbon – started Al Gore his thematic presentation _ “I believe in a Carbon Tax, Cap & Trade, Renewable Energy Standards and Regulatory Action.” WE HAVE TO USE ALL FOUR!
He told this congregation – “This is a group that cannot wait until new laws are set. You are a unique group because you are responsible for assets to the stock holders. You must look into the future – the leader of America labor is here (reference to Mr. John J. Sweeney, President, AFL-CIO, who was at the lunch and was a speaker on the first panel after lunch).” Al Gore made reference to a “UN with its great principle of Responsible Investment …”

“Mindy Lubber thinks of you as the ‘good cops’ but what you need to do is more. You need to scrub your investment portfolios!” – preached Al Gore to the money-men. “YOU WILL FIND THERE CHUCK-FULL OF SUB-PRIME CARBON ASSETS!” – he said. “This is the challenge – the time is drawing neigh – like the fellows in the mortgage business you will be held personally responsible for what you did not see!” Bubbles are based on the assumption that it was OK to take risky assets without down-payment and turn them into good assets and sell them – this turned out bad – he said. “BUSINESS MODELS THAT ASSUME THAT CARBON IS FREE WILL GO SPLASH!” It will take a hell of less time you are going to be responsible for those assets – so what are you waiting for? – he preached. Now is the time to start umping up and make your portfolio sustainable! This is the clear reality that so many of have helped unmask! DON’T JUST WALK THE WALK _ RUN THE RUN! When the judgement comes – where you among the sleepwalkers or you saw what is coming? BE A HERO – NOT A ZERO!

Al Gore reminded the audience that he spoke in Davos along Bono on SUSTAINABLE DEVELOPMENT, COMBATING DISEASES and GLOBAL WARMING. We are in it together – Today Increases Of Carbon Pollution Anywhere Is Responsible To Climate Change Effects Everywhere!

Put a price on carbon to allow us to make the accurate calculation of what is good and bad. That will allow the new technology! With concentrated solar, we could now put up in the SouthWest a 100 miles by 100 miles system that provides electricity for all of the US. The US and Venus are like two equal planets. They have the same amount of carbon with the only difference that Venus has no fossil carbon – all of it is in the atmosphere – see the difference it makes in temperature! “The pie in the sky assumption is that the fossil carbon moved to the atmosphere there.”

During the Q&A there was a question on bioenergy. Al Gore started the answer by telling a story about a teacher who put on a test the same question he did sometime ago. When he was asked why did you ask the same question? His answer was – “yes I know – but the answer has change!” He mentioned that beneath the surface there has been a tendency to confuse the climate crisis with the energy dependency crisis. The imported oil problem – at the time they said oil shales in your portfolio – now this is ridiculous!

Biofuels – there are forms that are lower carbon substitutes to be used on an environmental responsible way. You must check the energy balance when you add everything up. Note the agriculture, the process, the kind of vegetation used – but when you cut rain-forests this leads to negatives. The bottom line is careful analysis and there is a role for biofuels. then there will be a second and third generation of biofuels – with enzymatic technology – with engineered bugs – these will be practical soon!

On the US politics of climate change at this time of Presidential primaries Al Gore remarked that in all the debates to-date there were only 3 questions on climate change and the answer was clean coal. This was equal to the number of questions on UFOs. This is unreal – at the same time $37 million were spent on fossil fuel propaganda this season.

The remaining three presidential candidates are positive and the evangelicals also shoot massively for solutions on poverty and climate change. Change is possible and he brought forward the change in Australia that led to an immediate joining on Kyoto protocol. Kevin Rudd won the elections in Australia because of a most serious 1000 years draught that people attribute to climate change and just had enough of the positions of the previous government. Australia’s wines will become a thing of the past! The Alliance for Climate Protection, with more Republicans then Democrats, is positive. They will start a campaign.

IT IS MORE IMPORTANT TO CHANGE POLICY THEN TO CHANGE LIGHT-BULBS! – he said. Here I pointed my neighbor to the light bulbs above our heads – the UN with all the talking going on there – has not yet moved to change those bulbs with fluorescent bulbs. I guess this because of plain ineptitude by UN staff, or who knows – because of the influence of the fossil fuel sellers that are such a strong power-center in this building.


{A personal note here from Pincas Jawetz: Al Gore became US Congressman in 1976 and when in 1977 I testified before Senator Frank Church on the subject of ethanol additives to gasoline – showing factors how the use of ethanol in low percentage mixtures with gasoline – this for the purpose of enhancing the octane value of the refinery product for unleaded gasoline – results in a doubling of the energy efficiency of the ethanol, and how this could be a first step in avoiding any subsidies related to the introduction of unleaded gasoline. The second step was then to use lands taken out of production as subsidy to the agricultural industry, could be used to produce ethanol from commodities that were not grown – rather then from buying them up on the market for food. It was a member of the Al Gore staff, Peter Knight, who was intrigued by my presentation, fished me up, and brought me before the young Congressman to tell him my story. I never forgot that moment of watching an eager mind understand my factors and policy arguments. Now, at this lunch, I bumped into Peter Knight who is now the President of Generation Investment Management. Also, the day was made for me complete when al Gore recognized me, and I had a chance to remind him of those 30 year old technical and policy calculations.}

VINOD KHOSLA was part of the first morning panel – chaired by Former Senator Timothy Wirth, President of the UN Foundation, long time colleague of Al Gore, partner with Al Gore at the US Senate delegation to the Rio Summit in 1992, during the Presidency days of President Bush the father, and now President of the UN Foundation that brought this whole event to within the walls of the UN. The other members of that panel were: Nobuo Tanaka, Executive Director, The Paris based International Energy Agency, and Peter A. Darbee, Chairman, CEO & President, PG&E Corporation, the Northern California utility that is the largest utility in the US.

The title of the panel was: UNLEASHING THE BUSINESS POTENTIAL FOR CLEAN ENERGY. As said earlier, in this posting, for sake of expediency, we will cove only the Vinod Khosla presentation.

Khosla got interested in green energy three years ago when Goldman-Sachs had a seminar for investors in green energy. He says now that he was inspired by those presentations. He found there “MOSTLY CONVENIENT TRUTH FOR A TECHNOLOGY OPTIMIST.” He believes that Economists and Econometrics are the wrong way to predict the future. He also thinks that every sponsored technology choice is probably the wrong way to go.
“THE RIGHT WAY TO PREDICT THE FUTURE IS TO INVENT IT!” “Today’s dreams is tomorrow’s future!”

He predicts that within 10 years oil price will drop rapidly with a second generation biofuels. He says that almost certainly this will happen. He divulged that he had conversations with the CEO of General Motors about wood-chip biofuel in 10 years that will be cheaper then oil today.

He expects a cement that will be a most powerful sequestration technique. He says that today’s corn ethanol, biodiesel, solar PV, wind technology and geothermal will NOT be the solution. Neither of them.

The New Green will come from new engines, new lighting, new appliances, batteries and Flow Cells, cement …. He produced a great interactive series of circles I was not able to copy correctly and concluded that FOSSIL TECHNOLOGY WILL BE FOSSILIZED! THE GOOD THINK IS THAT WE HAVE A CATASTROPHE – and I assume this means that our thinking will become focused.

Khosla thinks of three potential catastrophes: Nuclear War, An asteroid hitting us, and Climate Change. He is ready to think how to tackle climate change and knows that technology happens very fast and causes world dislocations.

We understand what he is saying because we know that the man thinks in terms of quantum jumps. He made a quantum jump in Silicone Valley – now he looks for a new topic where he wants to be part of a quantum jump.
He knows that in IT things will improve now incrementally – so it does not grasp his attention anymore. He has the money, so he is ready to put it where his thoughts are, and with his Khosla Ventures he will try to shoot in several directions until he finds the one topic to go for the kill. He believes strongly in the power of entrepreneurial thinking to create the new technology that has this quantum jump potential, but he is not shy from saying that there is need of government to come up and say – look we need this new technology – go get it! Koshla also does not believe in hybrid cars – this is the wrong way to go and this technology just will make the switch to the future more difficult.

Ambassador E. Angus Friday, Permanent UN Representative from Grenada, and central figure in the Small Island States Alliance at the UN, said that in the SIDS there is recognition of the need to do something – “While we push on mitigation, we have clear adaptation needs already and we push in this direction with the help of the UN Foundation.” He wants to know more about the carbon tax idea as an incentive. He calculated the cost of electricity KWH and concludes that customers that do not have solar rooftops subsidize those that do have solar rooftops. Khosla says that in Sacramento there is a company with a 3 football fields size rooftop that generates electricity at 40c/KWH – while PG&G prices at 14.5c/KWH.

Khosla says that allocations and carbon tax are important but he suggests we go without a carbon tax. Coal, oil, steel, cement are the main transgressors. He says that if we put just those 4 segments of the economy on a tax, this is enough to start change. These “carbon 4” cover 80% – so start with them-!! As soon as people will see that carbon has a cost – they will start worrying about their portfolios – they will worry about their investments. Now, if we get a tax and new low carbon industries are created, carbon gets lower, and follow up industries will have less risk.

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2 Responses to “The Valentine’s Day 2008 Investor Summit On Climate Change at the UN, CERES-UNF-UNIP; The Presentations by Al Gore and Vinod Khosla – other reports will follow.”

  1. Mr. Dorothy Neil B. Doroin Says:

    It is very promising that there are movements and initiatives coming from very powerful and influential groups and individuals coming from all over the globe to save planet earth. Carbon emmission is a very dreadful problem that has plagued the world since the human race has enjoyed the fruits of technology. I strongly believe that for every problem there is an exact right solution for it. In my very young existence in this world, I have seen how nature’s wrath has punished back its predator and I am very much afraid that this unwanted scenario devour my son. In this relation I have funded a project on how to reduce significantly carbon emmissions coming from fossil fuel powered engines. Today’s modern transportation is one very significant contributor to global warming due to carbon emmissions and without prejudice to fossil fuel producing companies I have in my hand an invention; the very possible and imminent solution to the fossil fuel driven global economy.

    According to Vinod Koshla “The right way to predict the future is to invent it. Todays dreams are tommorows future.” I live in a third world country where dreams seemed to be always a fairy tale but I saw the future… a CLEAN EARTH. This week my team will have the prototype run on an engine and the proof will set us free from the doubt of ever realizing a solution to carbon emmission problem.

    The world must have this technology and every fossil fuel running engine should have this. The question now is… WHO WILL ENTERTAIN THIS TECHNOLOGY?

    Mr. Dorothy Neil B. Doroin

  2. Mr. Dorothy Neil B. Doroin Says:


    Last April 11, 2008, a team headed by Engr. Arturo Bongco of the Environmental Management Bureau tested my prototype engine the CO emission result was amazing… 0.380%vol. A 96 honda 1.6 engine coming from the junkyard was used as a prototype and it was definitely a success. According to Engr. Bongco, it was the lowest rate ever recorded from among the new inventions being tested in their agency.

    For more information kindly contact me at +63 920 9135468 or email me at  dorothyneil at

    The world needs this!

    Mr. Dorothy Neil B. Doroin

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