The Wisdom Wall

“ESG is a set of issues, but it's not the same thing as a set of drivers. You know, they're issues to be aware of, screens and filters on making institutional investment, which is different than, uh, A, you know, an alpha case reasoned to invest capital in something.”

“the challenge is that it is definitionally a cost. Like, it is definitionally a cost to remove carbon. Um, and therefore, like, creating a market around that is a challenge, which is what, you know, the EU ETS did away with that by regulating it.”

“I don't think that really anyone has got the muscle for this because it's not been in anybody's lived experience really. And so we're having to think about it pretty fresh.”

“If you jack the price of electricity, 30% for somebody that makes steel using an electric arc furnace, it will materially impact the cost of the steel that is being made. If you do the same for people that are doing data center operations, uh, especially for training where the premium is on being fast, it's just not…”

“it's, it's also, I think, in the long run, maybe a pyrrhic victory to sort of obfuscate your data by not putting it into a table, because for one thing, people will get it, and they may be less sympathetic to your position if they, if they had to, Do a lot of extra work to get there, but also you leave more to the…”

“You know, we think about markets being willed into being by a new subsidy coming into place, or a new support mechanism, but they're also willed into being by other, by other mechanisms going away.”

“You know, the, the determining step for so many of these things is not fundamentally, you know, acts, access or availability within the earth's crust, but where it is that it gets processed.”

“The question we need to ask ourselves, is this, um, tech solving carbon markets problems, or are these carbon markets solving tech problems? You know, uh, are, are we seeing people attracted to fundamentally, I want to solve the issues of the carbon market and web three and crypto, uh, and refi are the regenerative…”

“Aero derivatives are traditionally used for very specific applications, and they're not being used necessarily to power things all the time, constantly for a decade straight. They can, but that's just not typically within the design spec.”

“I think we need to do a big reset in terms of what we consider to be a plug-in hybrid. I think people's, people's versions in the United States is a Prius with a plug, as opposed to a vehicle with 200 plus kilometers of battery range. On its own, plus a small, highly efficient internal combustion engine.”

“remember that these things go in cycles, that these markets tend to over, oversupply themselves, which has a way of becoming a forcing function for the market to grow further.”

“You know, like, we will not be in a successful place if we have, if we have, on a good way, 500 different ways to do a high-quality offset, And 50 different ways to measure and account for it. That will not be a success. Success would be, like, thousands of ways to do an offset, and two to five, maybe, ways to actually…”