Climate change vs technology: Study suggests tech investments could mitigate environmental risks | Computer Weekly

Technology will be key to mitigating the impacts of climate change, which a global survey of investors and consumers describes as the “greatest risk to the well-being of the world”.

The poll, commissioned by investment company Mubadala, garnered responses from more than 1,800 global investors and consumers (in the millennial and Gen Z age brackets) from across the UK, US, United Arab Emirates, China, France and India.

The responses form part of a piece of work Mubadala has undertaken with Bloomberg Media, known as its Megatrends study, which saw respondents quizzed about the megatrends they think pose the greatest threat to the world and what can be done to address them.

Those megatrends include climate change; demographic shifts – such as population ageing, urbanisation, the emergence of digital technologies and inequalities.

Climate change emerged as the megatrend that the majority of respondents said poses the greatest risk to the well-being of the world – given its potential to impact the health of citizens and the environment.

“When asked which of the five represents the greatest risk to well-being, climate change tops the list by far. Millennials see climate change (45%) as an even greater risk than Gen Z (38%) or investors (36%). This is likely because they have the most at stake; they’re the largest portion of the workforce today in the US, the world’s biggest economy, and represent a net worth of $9.4 trillion,” the report stated.

“Almost 90% of US millennials recognise that man-made climate change is happening, including those on the political right, which is usually more prone to dismiss human influence on the environment.”

The size of the threat means society must transition to a low-carbon economy as a matter of urgency, the report continued, and doing this means investing in digital technologies will be a must.

“Respondents agree that digital technologies is the megatrend that’s most critical for human progress, and that climate change represents the greatest risk to our well-being,” the report continued.

“When it comes to assessing which megatrends are most critical for progress, those surveyed resoundingly agree that digital technologies is the megatrend most likely to advance the well-being of the general population.”

Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi, and its chief strategy and risk officer, Ahmed Saeed Al Calily, said the survey’s findings align with the company’s own investment priorities.

To this point, in October 2022 the company completed the acquisition of a 100% interest in a company called Skyborn Renewables, alongside another entity known as Global Infrastructure Partners (GIP).

“As a responsible investor, Mubadala continues to execute our investment strategy in line with our convictions about how trends are shaping the world. We are investing in the energy transition,  traditional and digital infrastructure, life sciences, and technology to achieve value creation while delivering a positive impact to communities and contributing to a sustainable future,” he said.