Seeing green shoots of recovery in Phillipines real estate

The Philippine real estate industry is poised for a soft recovery this year, buoyed primarily by the continued expansion of the industrial and logistics sectors.

Amid the COVID-19 pandemic last year, these two sectors were found to be the most stable asset classes given the increased e-commerce penetration and demand for warehouses, distribution centers and cold storage facilities…

https://business.inquirer.net/316742/seeing-green-shoots-of-recovery

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Indonesia government raising money to finance development and infrastructure projects for 2021

The Indonesia government announced that they would be raising financing through their State Sharia Securities (SBSN) to finance the development of their country. The initiative was announced by Bappenas J. Rizal Primana, Deputy for Facilities and Infrastructure of the Ministry of PPN at the Infrastructure Project Financing Policy Forum through SBSN Year 2021.

A total of Rp27.58 trillion has been allocated for financing infrastructure projects, a reduced target of about -15% compared to what was committed in 2020. The reduced target was indicative of their cautious approach to the persisting effects from the Covid19 pandemic 

It is expected that the government would be able to hit their targets for 2021 despite the Covid19 pandemic. Based on their performance in 2020, their Ministry of Finance claimed that they were able to achieve 90.96% of the project financing target thereby reaching their initial target value of Rp32.48 Trillion, However, due to the Covid19 pandemic, allocation for the 2020 SBSN projects were shaved down to Rp18.16 Trillion which is about 44% of the initial figure. 

The breakdown of the allocation for the projects is as follow:

Achieving 90.96% of the project financing initial target through the SBSN, is a strong vote to the confidence in the SBSN instruments. In 2020, the Indonesia central bank lowered the borrowing cost five times, cutting the main rate by a cumulative 125bps, in an attempt to support the economy after Covid19 hit, as such it is estimated that the interest rates of the SBSN instruments could be priced the same or lower as compared to previous years.

Apart from this, the government has also confirmed that they are in the final stage of the plan to relocate the capital city to Penajam Paser Utara Regency and Kutai Kartanegara Regency in East Kalimantan.

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Indonesia government collaborating with FinTech Association to increase competitiveness of Indonesia enterprises #Indonesia #FinTech #AFTECH

As part of the Indonesia’s strategy to improve the competitiveness of their Micro, Small and Medium Enterprises (MSME), the government developing a National Strategy for the Digital Economy with the Indonesian FinTech Association (AFTECH). The AFTECH is an association for FinTech industry players in Indonesia.

We would expect to see the collaboration to focus on creating and expanding the education curriculum related to the digital financial services industry and technology, with the main aim to restore the Indonesia economy, increase financial inclusion, increase the and improve people’s welfare.

It is estimated that Indonesia has great digital economic potential due to a large population (270.20 million people), high number of smartphone ownership (estimated to reach 81.87 million users in 2020) and sufficiently high internet penetration (53.7%). With this, AFTECH would work with the Indonesia government to support the digitalisation of their MSMEs through innovations in digital payments, online loans, aggregators, credit scoring, financial planning, insurance technology, online KYC and project financing.

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Learn how to install and load packages in R Programming. #R #coding #Programming

A lot of functions are already available with the base installation of R and they are usually used for numeric calculations, statistical analyses, plotting and visualisations. These functions can be used immediately and do not require you to load any libraries. However, there are times that you might need to use more specialised techniques in your assessment and the tool sets are contained within packages (also referred to as libraries). There are a number of packages that are included with the base distribution of R and you will need to load them before you can begin to use them. In order to know what is available in your R, you would have to use the following function.

#In this example, I will try to call up a page detailing the installed packages within the R. 
R> installed.packages(priority="base")
     Package     LibPath                              Version Priority
base      "base"      "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
compiler  "compiler"  "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
datasets  "datasets"  "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
graphics  "graphics"  "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
grDevices "grDevices" "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
grid      "grid"      "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
methods   "methods"   "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
parallel  "parallel"  "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
splines   "splines"   "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
stats     "stats"     "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
stats4    "stats4"    "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
tcltk     "tcltk"     "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
tools     "tools"     "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
utils     "utils"     "C:/Program Files/R/R-4.0.3/library" "4.0.3" "base"  
          Depends Imports                      LinkingTo
base      NA      NA                           NA       
compiler  NA      NA                           NA       
datasets  NA      NA                           NA       
graphics  NA      "grDevices"                  NA       
grDevices NA      NA                           NA       
grid      NA      "grDevices, utils"           NA       
methods   NA      "utils, stats"               NA       
parallel  NA      "tools, compiler"            NA       
splines   NA      "graphics, stats"            NA       
stats     NA      "utils, grDevices, graphics" NA       
stats4    NA      "graphics, methods, stats"   NA       
tcltk     NA      "utils"                      NA       
tools     NA      NA                           NA       
utils     NA      NA                           NA       
          Suggests                                     Enhances         
base      "methods"                                    NA               
compiler  NA                                           NA               
datasets  NA                                           NA               
graphics  NA                                           NA               
grDevices "KernSmooth"                                 NA               
grid      "lattice"                                    NA               
methods   "codetools"                                  NA               
parallel  "methods"                                    "snow, nws, Rmpi"
splines   "Matrix, methods"                            NA               
stats     "MASS, Matrix, SuppDists, methods, stats4"   NA               
stats4    NA                                           NA               
tcltk     NA                                           NA               
tools     "codetools, methods, xml2, curl, commonmark" NA               
utils     "methods, xml2, commonmark"                  NA               
          License           License_is_FOSS License_restricts_use OS_type
base      "Part of R 4.0.3" NA              NA                    NA     
compiler  "Part of R 4.0.3" NA              NA                    NA     
datasets  "Part of R 4.0.3" NA              NA                    NA     
graphics  "Part of R 4.0.3" NA              NA                    NA     
grDevices "Part of R 4.0.3" NA              NA                    NA     
grid      "Part of R 4.0.3" NA              NA                    NA     
methods   "Part of R 4.0.3" NA              NA                    NA     
parallel  "Part of R 4.0.3" NA              NA                    NA     
splines   "Part of R 4.0.3" NA              NA                    NA     
stats     "Part of R 4.0.3" NA              NA                    NA     
stats4    "Part of R 4.0.3" NA              NA                    NA     
tcltk     "Part of R 4.0.3" NA              NA                    NA     
tools     "Part of R 4.0.3" NA              NA                    NA     
utils     "Part of R 4.0.3" NA              NA                    NA     
          MD5sum NeedsCompilation Built  
base      NA     NA               "4.0.3"
compiler  NA     NA               "4.0.3"
datasets  NA     NA               "4.0.3"
graphics  NA     "yes"            "4.0.3"
grDevices NA     "yes"            "4.0.3"
grid      NA     "yes"            "4.0.3"
methods   NA     "yes"            "4.0.3"
parallel  NA     "yes"            "4.0.3"
splines   NA     "yes"            "4.0.3"
stats     NA     "yes"            "4.0.3"
stats4    NA     NA               "4.0.3"
tcltk     NA     "yes"            "4.0.3"
tools     NA     "yes"            "4.0.3"
utils     NA     "yes"            "4.0.3"

The page will show you a list of all the installed packages within the R and it is up to you to load one package before you can start using it.

#Use this function to load the library of your choice and I have chosen the library "graphics" for this example. 
R> library("graphics")
R>
#If you entered the command properly and command prompt will show as normal. In this example, I purposely spelt wrongly and we will encounter the following error message. 
R> library("graphic")
R>Error in library("graphic") : there is no package called ‘graphic’

There are a lot of useful libraries that are contributed by other users and programmers and you would have to install these packages in order to make use of them.

#Use the following function in order to install a package that is not found within your base installation of R. In this example, I decided to perform mathematical calculations using univariate and multivariate spatio-temporal random effects models for point-referenced data using Markov chain Monte Carlo, so I will go for "spBayes" that is the package to do just that. 
R>install.packages("spBayes")
#If the command is run successfully, the console will start to show you the running output as the procedure complete. 

Every so often, you also might want to check for updates to your packages therefore, you could use the following function to check.

R>update.packages()
#If the command is run successfully, the console will start to show you the running output as the procedure complete. 
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How to use the working directory in R Programming? #R #coding #programming

Whenever you start an active R session, it will always has a working directory that is associated with it. Of course, the working directory could change if you previously specified another file-path when saving or importing data files. Use the following function if you want to check the location of the working directory

#use the following function to obtain information about the working directory of a current R session. 
R> getwd()
[1] "C:/Users/Guest/Documents"

In the above example, using the getwd() function revealed that we are currently in “C:/Users/Guest/Documents”. Filepaths are always enclosed in double quotation marks and also note that R uses forward slashes, not back slashes when specifying folders therefore, don’t worry too much about the format.

So what if you decided that you don’t want to use this working directory and rather change the path to somewhere else. In that case, you would have to use the following function.

#Use the following function to set the working directory to point to somewhere else.
R> setwd("/folder1/folder2/folder3/")

No matter what, it is important to note that R is case-sensitive therefore you need to pay attention to your large/small caps.

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How patent analytics could evolve to supercharge our innovation process and predict our future #innovation #AI @BlackPink

Innovations have always been the bedrock for growth. It is the ability to continually invent and reinvent that enables a society to keep up with changing times. This is achieved by developing solutions to novel challenges and setting new ground-breaking trends so that disrupters could stay ahead of the curve. Research showed that innovations could make significant contributions to growth and there’s even significant spillovers between countries, firms and industries, and to a lesser extent from government-funded research (Cameron, 1996). These trends don’t have to be in the area of technology. It could be in an area that’s beyond technology, for example in the domain of art and culture. Arts-based innovations are shown to be essential for the further progress in sustainable development of economy, society, democracy and ecology in a new balance (Carayannis, Bast and Campbell, 2015).

Photo by Una Laurencic on Pexels.com

Take for example, in the early days, the Taiwanese film industry was trending and there was a lot of attention that’s focused on the Taiwanese. All those attention brought along some direct or indirect benefits. How? Every time you aired a Taiwanese movie, you would earn revenues from the film and in addition to that, also promote many Made-in-Taiwan products and Taiwanese culture. Apart from this, there could be other forms of indirect benefits too. Let’s say a group of Taiwanese businessmen went overseas to negotiate business deals and because of the popularity and wide acceptance of Taiwanese films, they could jolly-well skip the introductory phase with potential clients and be more easily accepted. Fast forward to a few years later, the Hong Kongers took the throne in the film industry. Another few years down the road, that seat was taken by the Japanese and later by the Koreans. The Korean pop stars are currently trending quite well on different social media platforms as evidenced by the statistics on Twitter and Google Trends. Here is a snapshot of the trends on Twitter on 28 Jan 2021 and this is what I got. 

BlackPink, BlackPink, more BlackPink… … and even more BlackPink

For your information, BlackPink is the top trending topic for Worldwide when I extracted this information and they are one of the top Korean girl bands in Korea right now. I don’t know what’s PURRR so I did a quick search and it seems to be related to BlackPink as well. That’s how trending BlackPink is. KPop is cut-throat business. They have to continually reinvent themselves in many areas such as fashion, dance moves, design of the backdrop, music styles, etc. I strongly believe their continuous innovation and hard work are paying off.

Do you think KPop somehow or rather is helping the Korean economy either directly or indirectly? If not, maybe you could go for some Chimaek (pairing of Korean fried chicken and beer) and ponder about it? What I am trying to argue here is, there are direct and indirect benefits to innovation. Innovation is important.

By creating something new, I believe that people are encouraged to look forward, train their attention towards a goal and buy into a collective future. Keep the positivity going and more people will want to be part of that future. Of course, the past is important too because I believe that having a past with strong achievements is the reason for a solid present. Importantly, it serves as a concrete foundation for a marvelous future. But the past is definitely not indicative of future performance, because innovations could be transformative and have the potential to turn/ flip things around, for the better.

Ok, so that’s my case for innovations being the bedrock for growth. I want to understand how innovative our world is.  Many experts agreed that innovation is crucial for a robust economy but the problem of measuring innovativeness has not been resolved. Even then, empirical evidence suggests that patents provide a fairly reliable measure of innovative activity (Acs, Anselin, Varga, 2002). As such, I obtained this set of statistics (number of patents filed globally per year) from the World Bank and represented it as a graph for easy visualisation. Here goes.

It was recorded that there was 21,325,538 patents filed in 2018 alone. 21 million patents. 210 lakhs patents. We have so many patents in just 2018 alone. A quick tally showed that the globe has a total of 267,394,763 patents since 1980. That’s how much data we have on innovations. Using a Linear Regression Analysis (below graph – R2 of 0.7916) to forecast 20 years into the future, it is estimated that the number of innovations will still grow but at a slower rate after 2022. Of course this modelling is based on historical data and we should also take into consideration other laws such as the Moore’s law. Earlier I already brought up that historical performance is not indicative of future performance. Haha, but now I am using historical data for scenario analysis and we are studying one that suggest the slow down in the number of patents filed per year.

It’s nicely conforming to a gradual S curve with a R2 of 0.7916

What if we could once again supercharge the innovation process given that we have so much data on hand?

With machine actionable data, maybe we could apply a wide variety of artificial intelligence tools on the data set to generate insights that could be used for decision making on a strategic level in all kind of organisations. According to research by University of Cambridge, they explored an approach to develop a technology roadmap to facilitate collaboration and coordinated action within the patent analytics community. The approach would bank on several identified technologies such as artificial intelligence, neural networks, fifteen complementary technologies, like block chain, and five new technologies, such as technologies for linking databases, to be adopted in the field and are important in overcoming the innovation problems (Aristodemou, Tietze, Athanassopoulou, Minshall, 2017). There were even research on how these patent data could be harnessed to detect key biotechnology firms that are likely to successfully develop treatments and vaccinations against pandemics like COVID‐19 (Guderian, Bican, Riar, Chattopadhyay, 2020).

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How about using patents to predict the future?

Why not?

There are already many tools that leverage social media in some ways to predict the future. Social media data provides a glimpse into the internet users’ everyday thoughts and feelings. Because user behavior on social media is a reflection of events in the real world, many researchers have realised they can use social media to forecast, making predictions about the future (Phillips, Dowling, Shaffer, Hodas, Volkova, 2017). In this case, I am arguing that the posts that are being shared on social media are constructed based on factors that are vastly different from those of filed patents. Patents are expensive and require significant investment of time and various resources.

By leveraging an amalgamation of AI tools, perhaps we can go beyond data analytics such as predicting companies’ technological strengths, and push the boundary further into AI-inspired forecasting of various future scenarios?

Given the current arsenal of AI tools such as ANN and DL.

Why not?

References

Cameron, G. (1996). Innovation and economic growth. University of Oxford.

Bast, G., Carayannis, E. G., & Campbell, D. F. (Eds.). (2015). Arts, research, innovation and society. Springer International Publishing.

Top 10 Countries People See as Most Innovative. (n.d.). Retrieved from https://www.usnews.com/news/best-countries/articles/2019-01-25/worlds-most-innovative-countries-by-perception

Acs, Z. J., Anselin, L., & Varga, A. (2002). Patents and innovation counts as measures of regional production of new knowledge. Research policy31(7), 1069-1085.

Aristodemou, L., Tietze, F., Athanassopoulou, N., & Minshall, T. (2017). Exploring the future of patent analytics: a technology roadmapping approach.

Guderian, C. C., Bican, P. M., Riar, F. J., & Chattopadhyay, S. (2020). Innovation management in crisis: patent analytics as a response to the COVID‐19 pandemic. R&D Management.

Phillips, L., Dowling, C., Shaffer, K., Hodas, N., & Volkova, S. (2017). Using social media to predict the future: a systematic literature review. arXiv preprint arXiv:1706.06134.

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Why are data centers an important part of your technology experience? #technology #cloudcomputing #energy

Data centres (centers) and transmission networks are the backbone of many technology. Current technology enables us to communicate at lightning speed with people located at different parts of the world. There are many options to do that; for example via messaging applications, video conferencing, virtual reality environments, video gaming environment, augmented reality, hologram conferencing, voice recording, video recording, etc.

Many use these technology without knowing how it works at the basic level. That’s because technology has become so integral to our lives that we simply take it for granted. Not surprisingly, we are facing the same situation for the food that we consume too.

How so?

You see, some kids don’t know where their food comes from. Their meals are prepared regularly therefore, they never felt the need to question its origin. Nowadays, its really rare for kids to ask about the origins of their food ingredients.

One kid asked me about this a few days ago, and it somehow inspired me to write about this piece about data centres.

He asked me about the origins of beef and I replied that there’s THREE ways to obtain a piece of beef and have it cooked as a steak, (1) Rear a cow and harvest its meat, (2) Grow that piece of meat in a food laboratory or (3) Print that piece of meat using a 3D printer.

Don’t eww me. Meat can really be obtained through these three methods and no one knows how many more alternatives might emerge in the future.

Maybe that’s why toymakers create such toys to tease parents into teaching kids where their food originates?

Technology, like food, don’t suddenly appear out of nowhere. Somebody had to do the groundwork of mining minerals, converting the minerals into secondary products that could be used to build electronic components, code instructions into the chips, fuse the parts together, build the eco-system infrastructure that enables network connections, etc. All parts are essential but I especially want to focus on data centres.

Data centres are boring. Racks and racks of servers humming. Nothing exciting, but I reckon that it could be a space to watch out for. Given the recent advancements in artificial intelligence and how data are being used for machine learning, it is not difficult to imagine the growing importance of data and how its status might eventually rival that of money.

Since we have Switzerland for money, perhaps there should be another “Switzerland” for data. Then again, I remembered reading about how one company housed their data into a special purpose vehicle and sold it off to a holding company within Switzerland for safe-keeping. Not Switzerland again!

Anyway, chatting applications that allow for instant messaging is an integral part of our lives. Its difficult to imagine passing a day without sending some sort of instant messages. Basically, these chatting applications convert your intended messages into data signals which are transmitted through the internet and then sent through the data centres. It then goes into your intended recipients’ phone as a normal human message again. That’s the basic idea of how it works.

Photo by Andrea Piacquadio on Pexels.com

Chatting apps companies can process these data via two options, (1) via the cloud – which is basically using another party’s data centre or (2) via their personal data centre. Sometimes it could be safer for your data to run through the chatting app’s personal data centers, depending on its privacy and security policies.

No matter what, your chatting data has to go through a data centre to make the magic happen. How do you send an image file to a recipient and expect him to open this file as and when he likes. This image data has to be housed in some locations for delayed retrieval.

Data centre is big business. You are able to perform cloud computing because of data centres. The data centre is your cloud, not anywhere else. Most definitely not in the cloud but maybe in the outer space, in the near future.

Based on the above figure, research showed that global data centres consumed around 205 terawatt-hours (TWh) in 2018 or about 1% of global electricity use. Based on figures from Energy Market Authority of Singapore, Singapore roughly consumed about 50.4 TWh in 2018. The data centres’ energy consumption trumps Singapore’s energy consumption by slightly more than 4 times.

In order for data centres to work at its best efficiency, the environment should ideally be around 20 to 25 degrees Celsius but some companies are already starting to explore the possibility of pushing the boundary to 32 degree Celsius. In addition, the data centre designer also has to consider the humidity of the environment.

About 50% of a survey said that their data centres will be between 5,000 and 50,000 square feet over and another 16% stated that their data centres will be between 100,000 and 500,000 square feet. For your information, a 50,000 square feet data centre will be slightly smaller than a soccer field. A 5,000 square feet data centre will be about as big as a basketball court.

Photo by Christina Morillo on Pexels.com

What does this means?

This means that the operation of data centres require a specially curated environment that is energy intensive, generates a lot of heat and takes up a lot of space.

Where does this leads to?

This means that there’s a lot of potential in improving the operations of the data centres. Passive cooling technology. Housing data centres underwater. Building multi-storied data centres. Reusing the heat from the data centres. Orientation of the data centres. AND also exploring the possibility of housing data centres in outer space. It is ENTIRELY possible.

Two astronauts will installing a broadband terminal on the International Space Station. This will allow them to connect to the internet at broadband speeds. Once this is established, the possibility of housing a data centre in outer space becomes higher.

So what?

There is huge potential in this space. Literally space. No. Really.

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Apart from using the Google Workspace, I want to provide you with even more EXCITING VALUE for your company’s GROWTH and EXPANSION. Today, I am giving out two promotional codes that you could apply and start SAVING MORE MONEY!

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What happens when the sea level rises 216 feet?

North America would lose the entire Atlantic seaboard, Florida, the Gulf Coast, and much of California (© September 2013 National Geographic Society)

Europe would be hard-hit: London would disappear, as would Venice, the Netherlands, and most of Denmark (© September 2013 National Geographic Society)

Asia: Land currently inhabited by 600 million Chinese would be underwater, as would all of Bangladesh and coastal India (© September 2013 National Geographic Society)

Australia would gain a new sea in the center of the continent but lose the coastal strip where more than 80 percent of the population currently lives (© September 2013 National Geographic Society)

Most of Antarctica would disappear (© September 2013 National Geographic Society)

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Do Human Industrial Activities Cause Climate Change?

So what exactly is climate change? Is it real? Is it a hoax or something that is much worse, a conspiracy theory that the political elites are using to control the masses? I see conversations about climate change almost every time I go online. People throwing stones and pebbles at people at the other end. There’s never a middle ground between the climate change deniers and those who believe that human industrial activities are one of the leading causes of climate change.

Earlier I did some research about the Paris Agreement because there were discussions about how the agreement was benefitting the French citizens. This came about simply because it was named the “PARIS” agreement. Of course, after looking through the entire document, I’ve concluded for myself that it simply does not make any sense that this agreement was drafted to benefit the French. You can refer to my own personal findings here.

So, all these efforts for the Paris Agreement is based on the fundamental belief that climate change is caused largely by human industrial activities. As such, humans should be able to arrest or reverse the current climate situation by making adjustments to these activities. Intuitively, it does feel about right that human industrial activities could be one of the leading causes of climate change but why are climate change deniers refusing to accept this piece of information? If you go down a bit further in the rabbit hole, we start to see the emergence of climate change conspiracy theories.

Photo by Markus Spiske on Pexels.com

As of now, there are at least more than 10 types of conspiracy theories being attributed to climate change. They argued that humans aren’t responsible for climate change. It is a natural phenomenon therefore, it will still happen with or without human industrial activities. 

So who is right?

I went to Lexico which is an online dictionary powered by Oxford University Press and they have the following as definition for climate change:

“A change in global or regional climate patterns, in particular a change apparent from the mid to late 20th century onwards and attributed largely to the increased levels of atmospheric carbon dioxide produced by the use of fossil fuels.”

https://www.lexico.com/definition/climate_change

The online dictionary did not define climate change as being entirely caused by human industrial activities but neither did the dictionary deny that it is a natural phenomenon. But why can’t climate change be a mixture of both? Anyway, our climate is always changing therefore it is not wrong to call it “climate change”. The question is, do human industrial activities play a part in accelerating or decelerating climate change. Ah, I think I should just leave it to the scientist to research on this bit.

Solar radiation varies smoothly through time (top, orange line) with a strong cyclicity of ~23,000 years, as seen in this time series of July incoming solar radiation at 65°N (Berger and Loutre 1991). In contrast, glacial–interglacial cycles last ~100,000 years (middle, black line) and consist of stepwise cooling events followed by rapid warmings, as seen in this time series inferred from hydrogen isotopes in the Dome Fuji ice core from Antarctica (Kawamura et al. 2007). Atmospheric CO2 measured from bubbles in Dome Fuji ice (bottom, blue line) shows the same pattern as the temperature time series (Kawamura et al. 2007). Yellow columns indicate interglacial periods.

I chanced upon this research “Northern Hemisphere forcing of climatic cycles in Antarctica over the past 360,000 years” by Kawamura, K., Parrenin, F., Lisiecki, 2007, and I extracted this graph for my reference. The yellow columns indicated interglacial periods and we are currently living in one. Research showed that the current interglacial period (the fifth) began about 11,600 years ago, suggesting it may not last much longer. It corresponds to the time when human beings began farming and building cities and civilizations. If you observe the chart carefully, when the temperature reaches about 2.5 degrees Celsius, the environment suddenly cooled rapidly and the level of CO2 decreased too. I’m just saying that the data coincided and in no way saying that reaching the 2.5 degrees Celsius, will cause the environment to cool down rapidly.

So the question is, if we humans push the global temperature to 2.5 degrees Celsius, what will happen? I’m not implying anything. I’m just asking and am still doing my own research to advance my knowledge on this topic. Chill.

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So what’s the Paris Agreement about?

(470 words. About 2 mins read)

Climate change is a very hot topic and it always gets bundled along with the Paris Agreement in news coverage. So we read that countries are coming together to pledge their commitment to the Paris Agreement. Apart from this, there’s also the recent news coverage on how the USA (under Trump) wanted out of the agreement and then later, the USA (under Biden) wanted to rejoin the agreement.  

Most of us already know more or less something about climate change but how exactly does the Paris Agreement come into play in relation to mitigating climate change risk? First of all, why even name it “The Paris Agreement”? The agreement is named as such because the world leaders gathered in Paris, to negotiate and sign this agreement. And because of its name, it sparked some debates online that the Paris Agreement benefits the French citizens and hurts the American citizens. I was really very curious about it and did some research. However, most of the news sources were politically motivated therefore I wasn’t clear if I could trust any of those sources. 

As such, I directly searched for the actual Paris Agreement document and vetted through the details. There really wasn’t any indications within the document about how the French will benefit from this international agreement other than the marketing of the word “Paris”. The word “France” did not appear in the document. The word “French” appeared one time and it was used to indicate that the agreement had a French version. The word “Paris” appeared two times, once in the title on the first page and the second time it appeared was to indicate where the agreement was signed. 

The naming is related to the location where it was being discussed and signed but getting onboard means that there’s a lot of work in mitigating greenhouse emission. A country that is heavily reliant on fossil fuel for their energy needs, will find it costly to sign onto the Paris Agreement. Commitment could mean deep investments into alternative energy sources and such transfers might increase the cost of energy in the short run.

The main aim of this agreement is for these countries to commit to global average temperature to well below 2 °C above pre-industrial levels and to pursue efforts to limit the temperature increase to 1.5 °C (UNFCCC, n.d.). With this agreement, the countries will try to support each other in several ways:

  1. Financial assistance – extended to countries that are less endowed and more vulnerable; 
  2. Capacity building – enhance support for capacity-building actions in developing countries; and 
  3. Technology – establishes a technology framework accelerating technology development and transfer. 

So with these mechanisms in place, the committed countries hope to reduce carbon emission which many strongly believe will lead to rising sea level and superstorms that predictive models are forecasting. So what’s your take on the Paris Agreement? Let me know about it too!

===

References

(n.d.). Retrieved from https://unfccc.int/process-and-meetings/the-paris-agreement/the-paris-agreement

(n.d.). Retrieved from https://www.bloomberg.com/news/articles/2020-11-10/what-biden-s-win-means-for-paris-climate-agreement-quicktake

Climate Change: Definition of Climate Change by Oxford Dictionary on Lexico.com also meaning of Climate Change. (n.d.). Retrieved from https://www.lexico.com/definition/climate_change

Kennedy, K. (2016, December 13). Here Are the 10 Most Popular Climate Change Conspiracy Theories. Retrieved from https://www.inverse.com/article/24714-10-most-popular-climate-change-conspiracy-theories

Google Workspace is the new G Suite, integrates many ...
Google Workspace
The only productivity tool you’ll ever need!

Don’t you wish you could IMPROVE PRODUCTIVITY and INCREASE COLLABORATION among your staff while doing away with all the hassle? After trying out so many productivity and office tools, I discovered that Google Workspace is the BEST TOOL for both remote and on-site working!

Click on the Google Workspace logo and start growing!

Apart from using the Google Workspace, I want to provide you with even more EXCITING VALUE for your company’s GROWTH and EXPANSION. Today, I am giving out two promotional codes that you could apply and start SAVING MORE MONEY!

PlansPromotional Codes
Google Workspace Business Starter PlanEAAY74Q979XD49K
Google Workspace Business Standard PlanYATVPVG39EFFFGW
Each promotion code provides 10% off the first year on either Google Workspace Business Starter plan or Google Workspace Business Standard plan*.

Click here to start GROWING NOW!

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