Can geoengineering save the planet?

At Future Super we're always looking for climate solutions and reasons to be hopeful about how we can all move away from fossil fuels and towards a decarbonised economy.  

We’re not the only ones with our eyes on climate solutions. Scientists, governments and some of the world’s biggest companies are looking to technology to help fast-track some fixes. That’s why geoengineering – technology-led climate innovation – has become a muti-billion-dollar industry.  

Most geoengineering concepts aim to either suck carbon out of the atmosphere by capturing and storing it or try to cool the planet. If that sounds like science fiction, it's because it kind of is.  

Fossil fuel companies are relying on geoengineering to meet their net zero commitments. The trouble is, many of these ideas are unproven, and illustrate a blind faith in technology to solve complex problems.  

A US company sells ‘cooling credits’, based on the idea that volcanic eruptions release Sulphur dioxide into the atmosphere which blocks out sunlight. For a fee, they send a balloon up to burst and release Sulphur dioxide based on this theory. 

There are concerns about the unforeseen consequences of this technology. Computer modelling showed that aerosol releases of Sulphur dioxide like this could overheat the equatorial troposphere, fuelling larger-scale extreme weather around the world.   

But the big issue with geoengineering solutions is that they’re a distraction, and they don’t reduce or avoid carbon emissions. 

Future Super invests in climate solutions and doesn’t invest in the fossil fuel industry. We want to see investment channeled towards things we know work. Keeping money out of the fossil fuel industry is a powerful mechanism for change, especially when we can invest it in climate solutions instead.  

Technological innovation does have a huge role to play in the fight against climate change. We need to keep developing climate solutions like grid-level battery storage and clean energy.  

We invest in several established energy innovators – like Vestas, a company that pioneered a way to recycle wind turbine blades, plus a range of startups through the Artesian Clean Energy Seed Fund, working in areas such as biofuel, wave energy, green building and battery tech.  

The fight against climate change needs innovation, but our investment focus is on moving forward from fossil fuels and towards a future worth retiring into.  

See How we Invest for information about our screening and investment processes. Investments may be held indirectly via an Exchange Traded Fund (ETF) or Managed Fund (MF). All information is general in nature and does not take account of your personal objectives, financial situation or needs. Before deciding whether a particular product is appropriate for you, please read the relevant Product Disclosure Statement, Target Market Determination and Financial Services Guide available at www.futuresuper.com.au, and consider speaking with a financial adviser.