1/ The Global Race for the Future

Almost everything in the world runs on computer chips, which is causing a shift in power in the modern world. With global concerns over climate change, there is a collective rethink of the global economy; chips may soon replace oil in terms of its global impact and distribution of wealth. No other facet of the economy is so dependent on so few companies. Chips from Taiwan provide 37 per cent of the world's new computing power each year. OPEC's 40 per cent share of the world's oil production is not impressive by comparison.

China makes larger investments in importing chips and chip-making machines than in buying oil. It is determined to increase its domestic chip production to produce 70 per cent of the semiconductors it uses by 2025. Rising geopolitical tension and rivalry over economic power and chips between the US and China, the return of protectionism and the blocking of trade restricts the flow of technology, data and talent. As the competition grows between systems, the Western model itself is transforming, and China’s rise changes the balance of ideas as much as the balance of power.

Models show that for every degree of temperature increase, one billion people will be displaced, which is a global problem. For the entire world population, you will either be displaced or will receive displaced persons. The vital process of adaptation to climate change is a priority in every area, from the built infrastructure to food and energy systems and the establishment of many new cities in host countries. If planning for the human migration of millions of people across continents starts now, the impact may be limited.

The world's population will continue to grow in the coming decades, and most of this increase will take place in the tropical regions most affected by climate catastrophes, causing people to flee north. The Global North faces the opposite problem, a growing elderly population supported by a substandard workforce. International cooperation is needed for these challenges beyond the so-called global north and south divide.

Why this matters

Computer chips are everywhere, the modern world runs on them, and a new economy is unfolding. Globally we are dependent, and collaboration is needed to meet future challenges.

TSMC chip wafer/ Taiwan Semiconductor Manufacturing Company

The global semiconductor market forecast to reach $1tn in value by 2030, chipmakers must decide now on how they will meet that expected demand given that it takes years to build plants. Global expansion of plants in Europe and Japan is planned. Read more here

How trade affects the carbon footprint/ Global Carbon Project

Statistics on carbon emissions are usually recorded according to the producer principle and not the consumer principle. Countries in the Global North have outsourced their production operations. When you take that into account, the picture shifts. Read more here

Rare earth mine/ Xinjiang, China

Over the coming decades, demand for rare earths is forecasted to increase by two to eight times over current supply. Read more here

By 2030, 65 per cent of the world's total electricity supply can be supplied by electricity from renewable sources. The age of energy abundance could be closer than we think, something hard to imagine in the middle of an energy crisis. While renewable energy is only abundant some of the time, innovations in batteries will create the missing link in the transition. Storing electricity and creating opportunities for people to use it more flexibly, matching consumption to availability. With an abundance of energy, we can travel more, and building materials become cheaper, just like our goods. In addition, we can experience better health through more nutritious food and cleaner water supplies.

In the past year, companies and people have become more aware of energy consumption, leading to more flexible and smart electricity consumption. Most new renewable generating capacity will have to come from variable sources: primarily solar PV, onshore wind, and offshore wind, which lead to more flexible operations. Electricity markets will need to be reconfigured, and consumers are adopting the mindset of energy traders and becoming green electricity traders.

The transformation has effects that are important to realise. It creates new dependencies for critical minerals such as lithium, cobalt and rare earth metals. Lithium comes from a small number of producers; Australia, Chile and China control more than three-quarters of global production. We are part of the system, including the hidden effects in countries like Congo. The world would benefit from more diversified supply chains. International cooperation and strategic partnerships will be crucial to ensure the security of supply. International cooperation is necessary; the energy transition will become more costly and slower if countries do not cooperate.

Plastic is an urgent problem that we need to solve. We can have abundant energy, but if there are plastic particles in our air, food and even our body, it threatens our health. Plastic even harms sperm quality. It's not just a matter of waste, but of the survival of the human species.

Why this matters

Cheap, abundant energy will shape the future.

Hydrogen Hubs/ Storelectric

Renewable energy should always be available when required, and hydrogen hubs can be the missing link. Demand for hydrogen is expected to grow by a factor of 1,000 or more by 2030. Read more here

The idea of ​​growth is something that is culturally, politically and institutionally ingrained. Is it possible to break with the logic of growth? How do we get fair growth? How to grow and not promote consumerism and materialism? There is a need to rethink and reformulate social notions of progress in broader terms than consumption. Innovate lifestyles, communities and societies to consume less and still appeal to everyone.

Consumerism sacrifices the future for immediate, short-term gratification, both on an individual and societal level. The search for alternatives to consumerism focuses on learning, cultural issues, developing skills and creating bonds between people, nature and society. Find another way to fulfil ourselves away from consumerism. The only products that are needed should meet real needs and innovative social practices that have little or no impact on the environment and focus on social and personal growth.

The paradigm of growth-oriented economics has ended. Calculating the social and environmental costs of our behaviour shows that consumerism and our shopping habits are destructive. A principle of basic economics is to make supply smaller than demand so that value increases. But the cult of consumerism ushered in an era of poorly made products with devastating consequences for nature. Individual desire has been democratized. Change the idea of ​​“the new” and the “more is better” culture we have today into a culture of limitations, new ownership models and products for life.

We cannot stop shopping because it has become a hobby and leisure activity for many people. Consumer psychology shows that people seek novelty, the rare and convenient. Consumers feel divided; on the one hand, they want something new, but they constantly feel guilty when they think about the consequences of buying something. Can something be really beautiful if it is not sustainable?

Why this matters

Reforming capitalism to prioritize social good, natural resources, and the environment is needed to address the negative impacts of the extractive economy.

The Serpent of Capitalism/ Zoe Walker and Neil Bromwich 

Artwork that invites audiences to think about capitalism in our society and what the alternatives might be. See more here

Governments have a role in accelerating change with regulations and legislation to correct market failures, such as pollution and waste, and to promote social welfare. Countries such as France and California have extended producer responsibility also after a product has been sold and encourage people with incentives to reduce their impact by changing behaviour, such as travelling by bicycle instead of by car.

It is possible for businesses to combine fighting climate change and promoting social justice with generating a profit. Businesses have the responsibility to look beyond short-term profit and consider every impact their business decisions can make on the wider world. Setting seemingly impossible goals and focusing on long-term results to bring about real change.

For the good of business, communities, and the planet involves radical cutting out those things that do not build up. Small new initiatives that focus on no impact can be seeds of change within a company. The contribution to society, the morale and accountability of a company becomes increasingly important.

People's power makes a huge difference in the world today. More people become activists and make their voices heard by disrupting everyday life through strikes and actions. People are not sitting back and feeling helpless, they are working to find solutions by themselves to support climate action, and their voices will be louder.

People in affluent countries can contribute to averting climate change by slowing down demand and buying better quality products, and making them last. Eating a plant-based diet with no waste, travelling by train, switching to green energy, insulating our home and switching investment companies, banks and pension providers to match our values. Explore the future with an open mind, letting go of systems that no longer work as part of the transformation.

Why this matters

Governments, companies and people have a role in the transformation, positive change is made together.

Circular mattresses/ Auping

About 35 million mattresses are discarded in Europe and 20 million in the United States every year. 90% of a mattress can be reused, so Auping set up a take back system to recycle their mattresses. See more here

People’s Power/ Ashley Dawson

We can no longer think of energy as a commodity. Instead we must see it as part of the global commons, a vital element in the great stock of air, water, plants, and cultural forms like language and art that are the inheritance of humanity as a whole.

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For Profit/ William Magnuson

For most of history, corporations were not amoral entities but public institutions that supported societies. What happens in the next chapter of the global economy depends on whether we can return to a public-minded spirit or whether we choose high profit at all costs.

Paradigm Time/ Will Gibson

Paradigm Time, Two Tales of the Future, explore two different views of the years ahead for us. In the first tale, Resource Wars, ecological and economic disasters have brought great changes to people's lives. In tale two, Resolution Days, the world has faced the challenges of education, economy, and environment.

Chip War/ Chris Miller

Microchips are the new oil, the scarce resource on which the modern world depends. China spends more on chips than any other product and is pouring billions into a chip-building initiative to catch up to the US.

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