Newsletter - Week of Sep 25, 2023
Hi All,
I can't believe it's already the end of September! This week's theme is 'nourishment'. What are you doing to keep your mind, body, and soul nourished? I'm a natural helper who tends to prioritize the needs of others over my own for the greater good. So, I'm trying to change my approach, making myself a priority to better support others.
This week has been quite hectic with many events and activities for me, so I'll keep it brief. I've submitted my second exam for the Certificate of Quantitative Finance program, attended the BNP Paribas Exane ESG conference in Paris for two days, and felt invigorated connecting with like-minded visionaries after the pandemic lockdown. Additionally, I attended a friend's farewell as she returned to NYC, and our first podcast launched this week! Did I mention that I have an old friend visiting me from 20 years ago? We managed to squeeze in two days to explore the Scottish highlands (my post) over the weekend.
Lastly, it's 'Han Ga Wi' in Korea - a significant Korean tradition and national holiday, often referred to as Chuseok (equivalent to Thanksgiving in the US/Canada). It's a time when families come together to celebrate the harvest season, express gratitude for the year's abundance, and pay respects to their ancestors. This holiday is marked by delicious feasts, traditional dances, and the making of songpyeon, a special rice cake, all while enjoying the beauty of the full moon. So, it's quite fitting with this week's theme of 'nourishment.' Wherever you are in the world, I hope you feel rejuvenated
Hope you enjoy this week's newsletter! As always, welcome your feedback and suggestions.
📈Markets & Investing
- My weekly global market recap can be found here.
- This week's favorite market/investing podcasts: All-In Summit: Ray Dalio on the rise and fall of nations and the changing world order
🌍 Sustainability
- IEA net zero roadmap (2023) came out this week. Here is the summary.
Background:
- In 2021, the IEA published a landmark report on achieving net zero emissions by 2050.
- The report focuses on the energy sector's role in achieving the 1.5°C goal to combat climate change.
Current Situation:
- August 2023 saw record-breaking heat, highlighting the urgency of addressing climate change.
- Global CO2 emissions from the energy sector reached a new high in 2022, but they are projected to peak this decade.
- Positive developments include growth in solar PV and electric vehicles.
Key Pathways:
- The report emphasizes the importance of renewables, energy efficiency, methane reduction, and electrification in reducing emissions.
- Declines in fossil fuel demand, aided by well-designed policies, lead to a 35% reduction in energy sector CO2 emissions by 2030.
Tools for Faster Progress:
- Increasing energy intensity improvements and electrification are key strategies for emissions reduction.
- Electric vehicles and heat pumps play a significant role in reducing emissions.
- Reducing methane emissions from fossil fuels is a cost-effective way to limit global warming.
Innovation and Investment:
- Innovation in clean energy technology and lower costs are driving emissions reductions.
- Clean energy investment must increase significantly to meet the net zero pathway.
- Attention is needed to bridge supply and demand gaps for critical minerals.
Infrastructure and Security:
- Expanding electricity grids and infrastructure is essential.
- Carbon capture, hydrogen, and sustainable bioenergy are critical for achieving net zero emissions.
- Policymakers must support households in adopting clean energy technologies.
Emissions Targets:
- By 2035, advanced economies need to reduce emissions by 80%, and emerging economies by 60%.
- Current Nationally Determined Contributions are insufficient to reach net zero emissions by 2050.
Equitable Pathway:
- Differentiated pathways for countries to reach net zero emissions based on resources and circumstances.
- Full access to modern energy forms for all by 2030 requires annual investment.
Importance of Urgency:
- Failure to increase ambition by 2030 would rely on costly and unproven carbon removal technologies.
- The energy sector is changing rapidly, driven by climate goals, economic incentives, and job opportunities.
- Global cooperation is essential to address climate change, the defining challenge of our time.
🧘🏽 Conscious living
We explored the Scottish highlands over the weekend. Here is my blog post about the trip. Please check it out for the itinerary and my reflections on sustainability, conscious living, nature and Celtic culture and history in the highlands.
My favorite part was Trotternish! I lay down on the heather-clanned moors and meditated. As I felt so exhausted, I tried to rejuvenate myself with the help of the wind. I prayed for nature and all beings in the Universe and sought wisdom to persevere. I also promised myself that I would be back with my own family one day and do the proper exploration of the area next time with my drone so that I could share this spectacular beauty and view with more people!
One of the inspirations and downloads I took away from the trip was: Biodiversity, reforestation, and re-wilding.
One thing that surprised me was how some people perceive animals and trees — as mere 'commodities.' The adorable Scottish mascots, the hairy coos, are reduced to 'beef' in the eyes of some, and ancient, majestic trees are evaluated solely by their 'price per cubic' value. I came across an article about a sycamore gap tree 'crime scene,' and I was captivated by both the way it was written and the accompanying photograph; it truly resembled a murder scene. It makes me wonder if people would treat animals and plants differently if they realized they are sentient beings, possessing their own consciousness and intelligence, capable of logical thought and communication. Perhaps, it's our human limitations that prevent us from fully comprehending them. After all, I am convinced they too have souls and emotions, much like us.
😍 My Favorites
- Here is another book on happiness and the book tour interview at Harvard Business School (Sep 2023): Arthur Brooks and Oprah Winfrey discuss emotions as signals and the importance of understanding them to achieve happiness. They emphasize doing the work, acquiring knowledge, changing habits, and sharing with others to foster happiness. The key to happiness is to put your focus on 'being in the service to others.'
- Cultural Enrichment and K-Music Festival: Do you like K-pop or K-drama? I left South Korea 20 years ago to study abroad alone, and I have been out of touch with Korean culture. However, I am in the process of reconnecting with my cultural heritage, a journey that began during the pandemic lockdown. Just this week, I attended a concert by Jung Jae-il, an award-winning multi-instrument composer and the music director of 'Squid Game' and 'Parasite.' He performed alongside the London Symphony Orchestra as part of the 10th-anniversary celebration of the K-Music Festival.
- My favorite part of the performance was a musical piece called 'Binari.' This composition brilliantly combines the ancient shamanic tradition of Korea (Salpuri* / 살풀이) with the Korean traditional song technique called 'pansori,' accompanied by the orchestra. This fusion transformed the entire stage and captivated the audience. 'Binari' is based on a folk song that wishes for happiness on the road ahead.
Here is the video to watch to indirectly experience the explosive energy we had at the concert in London.
👍 Quote of the week
In honor of my cultural heritage and Chuseok, this week's quote is from Korea!
"A tree with deep roots is not shaken by the wind, and it bears beautiful flowers and abundant fruit.
Deep water does not dry up in a drought; it becomes a river that flows into the sea."
- excerpt from the Korean epic poetry that highlights the qualities of deep-rooted trees and deep water. It is called (Yongbi Eocheonga) translated to "The dragon (king) soars and rules the sky."
These proverbs encourage us to cultivate inner strength and resilience, emphasizing that enduring difficulties can lead to even greater success and abundance.
This epic poetry was the first one to be written in Korean alphabets instead of Chinese characters in Korea.
