Eric Archambeau - Costing the Earth

Eric Archambeau - Costing the Earth (How to Fix Finance to Save the Planet) 

5⭐

Genre: Non-Fiction, Climate Change, Environmental Studies, Geography, Academia, Education, Politics, STEM, Society

Pages:  224

Format: Paperback 

Publisher: Whitefox Publishing

Date Published: 1st August 2022

Huge thank you to The Book Publicist for sending me a copy of this book to read and review. 

Book Blurb: 

In Costing the Earth, leading impact investor Eric Archambeau argues that rather than making media-friendly pledges and grasping low-hanging fruit (such as aviation taxes), world leaders must radically overhaul finance instead.

Only by aligning investment decisions with the UN's 17 Sustainable Development Goals, and ensuring that industrial and services companies measure and incorporate in their P&L statements the full environmental and social costs of their operations - costs that are currently passed on to taxpayers or absorbed by Nature - will we stand a chance of achieving the breakthroughs we need.

Zeroing in on the agri-food sector, one of the largest contributors to global greenhouse gas emissions, water consumption and biodiversity loss, Archambeau dissects the many hidden problems caused by our current financial system.

As the stakes continue to rise and the window for action narrows, Costing the Earth makes the case that the only viable and sustainable way to achieve net-zero is to adopt the model pioneered by impact investors, which takes the three Ps - profit, people and the planet - into account when valuing a company or tracking its performance. Only then will business leaders all over the world be incentivized to place sustainability and the regeneration of the planet's resources at the heart of their operations and decision-making.

My Review: 

I was so excited about this book! Mainly because I love reading about the environment, especially climate change and ways to tackle it, and the fact that as a geographer I can’t stay away from books about the environment. This book, however, met all of my expectations and more! 

In each chapter, Archambeau presented cases on what is wrong in our current ways of production, consumption and environmental degradation/protection. Then he explained how we can change that if we looked at the environment, production, economy and consumption in a more holistic way, especially how we can change business and our day-to-day economic processes, such as financial statements, cost calculations, life cycle assessments, etc, to move towards more sustainable future. He also presents tools which companies can use to calculate the true cost of our products, including the real environmental cost that is usually left out from our product cost and the company’s financial statements. Lastly, in each chapter, Archambeau presents companies or start-up initiatives that are working towards changing the status quo of how businesses operate and finance themselves, as well as displays how those companies take strong steps towards tackling issues associated with climate change, such as poverty, hunger, agricultural processes, deforestation, greenhouse gases, to name a few. 

I learned so much from this book, especially about some of the start-up companies in the environmental sector and technology that I haven’t heard about before, that are doing amazing innovative work towards sustainability and tackling climate change. I also learned so much about the financial processes of the past that we as a society are very reluctant to change to protect our environment. 

The author’s arguments are very well researched and backed up, displaying that we need a very radical change in investing, running of companies, financing and economy to be able to work towards saving our Earth. 

I liked how the author talks about the importance of technology and machine learning, especially working together and not against technology to come up with innovative ideas and projects to save our environment and its resources for future generations. 

This is one of the few books that I have read about this topic that takes this holistic view of our environment, anthropogenic processes and economy and explores how they are all interconnected. This book shows that we need to do much more to tackle climate change and that what we are doing now is not enough. It is never going to be enough unless we are changing our old ways of doing things, such as production, investing, and financing. 

Overall: This book is a must-read for everyone interested in protecting our environment, who want to make a change, who cares about sustainability and the future of our environment and of course those who are interested in finding real solutions to tackle climate change and associated issues. This book is such an important read looking at all of the issues that we as a society are facing from a very holistic viewpoint. 

About the Author:

Eric Archambeau is an engineer, former Silicon Valley entrepreneur, venture capitalist and the co-founder of Astanor Ventures, an impact-led venture capital firm focusing on technology-enabled start-up companies in the regenerative agriculture and sustainable food sectors, with investments in companies such as Apeel Sciences, Empirical Spirit, Infarm, Modern Meadow, Monarch Tractors, Plantible, Smallhold and Ynsect.

Before Astanor, Eric was a business angel, venture capital investor, member of the board of directors and mentor to many founders of disruptive technology companies across the US, the UK and the EU, including, among others, eGroups (Yahoo groups), Flutter Entertainment PLC, PriceMinister (now Rakuten), XING, Spotify, Threads Styling, Freenow, Onfido, Peakon and Pirate Studios.

Over the past two decades, he has also worked as an investor and mentor with social entrepreneurs, addressing key social and environmental challenges, including Maven Clinic, a digital health clinic for women, in New York, and DASRA-Social Impact, a social impact accelerator in Mumbai. Eric was an early supporter of the social entrepreneurship network Ashoka in Europe, and a founding member of the Ashoka Support Network. Eric has also lectured at INSEAD, where he founded the social entrepreneurship programme, and served as Global Chairman of the Jamie Oliver Food Foundation, providing food education for children across the world.