Bill Gates: Climate Control 60 Minutes Interview

Bill Gates was interviewed by 60 Minutes on Climate Change. There is a cost to having such a large population on the world and products that don't go back into their natural state. There is also a cost to all of the fossil fuels and other power generating processes. We can reduce those long term impacts by thinking about innovation and biodegradable products.

The technology is there but it isn't yet cost effective. There will be new technology needed to scrub the planet and technology needed to adjust industry toward cleaner and more efficient use of energy. The transformation will need to occur to in a way that leads net positives through better products that have market demand.

There are two ways to look at this. We can legislate or we can innovate. Chances are we need a little of both.

First, I should say that legislation is not the answer to all of our problems but it can be a tool to push industry to change. The market is a much better system of pushing change but often doesn't respond well to things beyond current consumption.

The market has its own logic of developmental trajectory but doesn't see dangers ahead (i.e. bubbles, crashes, collapse, etc...). In other works, the market is a direct reflection of our human wants and needs and will maintain a course until those changes are needed (i.e. pollution pushes people to change).

For example, while we can see the problem of pollution and climate change growing the average person doesn't do well making these abstractions beyond their current needs. For example, "I'm worried about getting to work today and not whether I should be biking there!"

Legislation prompts change in industries and helps to create pressure to push change but it also comes with a cost as companies consider this a cost and may want to circumvent in such ways (cheat, move overseas, donate to politicians they agree with, etc...etc... etc...). 

Thus, legislation should give opportunities for industry to start working on these problems before legislating. Self-monitoring from an industry standpoint helps the government maintain oversight while allowing industry to coordinate to change. If change doesn't come, and costs rise to society then legislative grip begins to close. 

One thing I learned about riding a horse (which you can't really make this comparison 🙅) is that when you touch the reins lightly with your finger the horse will respond willingly better but if you yank back with all your might the horse might try and buck you! 😅🏇 

Government should first seek to guide industry through the collective will before mandatory legislation. Industry often response because they want to the masters of their own fate. In this case, the goal may be to make a whole new exportable Green Industry to the world. Individual companies may be willing to incorporate more robust green initiatives. 

We need a Green Industry, and the rest of the world needs it! ....and it will help us stay scientifically advanced. (Industry self regulation is also part of my research on innovation and transactional clusters).