Climate warning
Climate warning
Douglas Marett
119 w
Meta's blown US$ 100 bn opportunity to invest in global Net-Zero action
😣 The US$ 100bn that Meta has blown on the metaverse could have fully paid for 67 GW of new on-shore wind power (10 GW in 2022 alone) this could have increased the total installed wind capacity in the United States by almost 50%. That is a missed revenue-generating, asset increase, and Net-Zero opportunity that actually would have addressed the real universe we physically live in.
🌎 Great example of why after so many decades we still have a climate crises, partially because of misaligned cooperate investments like this one.
Data used for the estimations above come from International Renewable Energy Agency (IRENA) and U.S. Department of Energy (DOE).
Article link in The Guardian about the metaverse investment:
https://www.theguardian.com/technology/2022/dec/07/metaverse-slow-death-facebook-losing-100bn-gamble-virtual-reality-mark-zuckerberg
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119 w
Dear Douglas Marett Thank you for getting your climate warning to level 2! We have reached out to Facebook and asked for a response. I will keep you updated on any progress! /Muhammad We Don't Have Time
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119 w
I thought Meta have a sustainability department to advice them accordingly.
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119 w
@tabitha_kimani their sustainability team only addresses their internal activities (e.g. own energy use..ect.) not what they strategically invest in. By that matrix Meta would only need to invest in a small amount of RE power, and they already "buy" mostly green electricity. The issue here is what do they use their wealth for outside own activities (value chain).
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119 w
@tabitha_kimani it is $100 bn in waisted finance, when we need all the climate finance we can get to address a more rapid transition.