Investing in the planet’s future

Earth Day is always a timely reminder of how vital it is to put greater attention on the state of the planet and participate in the fight against the climate crisis. And the calls to take action for the planet have been more and more resounding, moving us to act now.

The latest United Nations Intergovernmental Panel on Climate Change (IPCC) Working Group III Sixth Assessment Report, which evaluated climate change mitigation progress and pledges, among others, stated that greenhouse gas emissions must peak before 2025 at the latest to preserve the chance of limiting global warming to 1.5°C, a target set under the Paris Agreement.

“It’s now or never, if we want to limit global warming to 1.5°C (2.7°F),” IPCC Working Group III Co-Chair Jim Skea said in a statement. “Without immediate and deep emissions reductions across all sectors, it will be impossible.”

As we heard the alarms about the current and potential situation, how should we stand up and act to save the planet that gives us life?

Everyone has a part to play in this crucial step for the planet. This is highlighted by EARTHDAY.ORG in this year’s theme, a call to “Invest in Our Planet.”

The campaign seeks to “push aside the barriers” established by the fossil fuel economy and its fellow conspirators old technologies and shift the attention towards building a 21^st-century economy that restores the planet’s health, protects the species, and has opportunities to offer to everyone. 

The focus of this year’s theme is to get the over a billion people, the governments, businesses, and institutions joining the Earth Day involved to understand the collective responsibility and help out in accelerating the transition toward such an equitable and prosperous green economy.

“In 2022, we all must enter into one partnership for the planet. People, governments, and even most businesses fear change but the status quo — the way we live today — is changing before our eyes. In building our future, individuals, businesses, governments, each have a unique role — we need to act individually and together,” EARTHDAY.ORG President Kathleen Rogers said in a statement.

Businesses can drive a substantial change by investing in the planet and fighting climate change. As most may have comprehended, corporations produce almost everything consumers buy, use, and discard, which could then contribute to the climate situation.

“Unless businesses act now, climate change will ever more deeply damage economies, increase scarcity, drain profits and job prospects, and impact us all,” EARTHDAY.ORG said on their website.

Yet, the organization considered that “smart companies” are realizing that it is no longer about having to choose between going green and growing long-term profits because “sustainability is the path to prosperity.”

The government’s role in investing in the planet, meanwhile, is to incentivize its businesses, institutions, and citizens to create a resilient future. For EARTHDAY.ORG, governments hold the keys to driving the transformation and development of a green economy by creating regulations, incentives, and public/private partnerships.

“Ultimately, governments will empower green business practices as not only the ethical option but also the lucrative one,” the organization wrote.

Holding governments, businesses, and others accountable and supporting their efforts when done right are among the responsibilities of citizens.

EARTHDAY.ORG recognized the capacity of individuals to lobby for and support businesses that participate in environmental protection through their practices and investments, and to fight against those that do not take part. 

Several studies have already shown the number of consumers minding the environmental impact of their purchase. The EY Future Consumer Index last year, as an example, showed that most consumers (64%) intend to pay more attention to the environmental impact of products they consume. 

Still, many consumers (78%) are concerned over the pandemic’s impact on their finances. And while 51% do want to purchase more sustainably, high prices discourage 66%.

The study also showed that most consumers (68%) expect companies to be the leaders in driving good social and environmental outcomes.

“As individuals, we have the simple yet effective power to make our voices heard through our choices, our civic actions, and our personal interactions,” said EARTHDAY.ORG. “What each of us does, and how we do it, has a huge ripple effect on our ecosystems, and on the pace of corporate and government action.” This further substantiated why investing in the planet requires a collective action among businesses, governments, and individuals.

“Unlike other historic economic revolutions, this time there are two additional imperatives,” EARTHDAY.ORG’s Ms. Rogers said. “The first is to save ourselves from the climate crisis, and the second is to build new green economies in every country so that everyone can share in the benefits from this green revolution. This will only be done if we invest in our planet’s future together.” — Chelsey Keith P. Ignacio