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Conversations with Tyler

Jeremy Grantham on Investing in Green Tech

Conversations with Tyler

Conversations with Tyler

Society & Culture, Education

4.8 • 2.4K Ratings

🗓️ 30 November 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

When it comes to fighting climate change Jeremy Grantham is optimistic about technology – but worried about timing. Known widely for his acuity in identifying bubbles, the British investor contends that the one created by our dependence on fossil fuels is about to pop. He’s on a mission to make green energy cheaper, faster and is well on his way. After a lifetime spent thinking about resources, he’s using his to power the development of green technology. The Grantham Foundation has invested into 45 early-stage green projects, such as improving the efficiency of lithium extraction.

He joined Tyler to discuss the most binding constraint on the green transition, why we need an alternative to lithium, the important message sent by Biden’s Inflation Reduction Act, the marginal cost basis of green energy, the topsoil crisis in the Midwest, why estimates of the cost of global warming vastly underestimate its effects, why he distrusts economists, the overpricing concentrated in the US stock market, the consequences of Brexit, the revolutionary tactics of Margaret Thatcher, how his grandparents shaped his worldview, why he’s optimistic about American venture capital, the secret to Boston’s success in asset management, how COVID changed his media diet, the political difficulty of passing carbon taxes, and more.

Read a full transcript enhanced with helpful links, or watch the full video.

Recorded September 1st, 2022

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Transcript

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0:38.0

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1:07.5

Hello everyone and welcome back to Conversations with Tyler.

1:10.8

Today I'm chatting with the famous investor and thinker Jeremy Grantham.

1:14.8

He is co-founder of Grantham Maya and Van Aderloo, also known as GMO and he has been in the

1:20.3

news a great deal lately with his proclamations on the environment and also bubbles.

1:25.3

Jeremy welcome.

1:26.8

Hi, nice to be with you.

1:28.9

Can the global mining industry produce sufficient raw materials for the green transition?

1:34.2

Well, it's currently configured, no, not a prepped, not even close.

1:38.2

Which is the most binding constraint?

1:40.0

Lithium today, I would say.

1:42.0

If we mined every ounce of lithium that are in the known reserves, it would probably be

1:46.4

about 5% of what is required to green the entire economy once, forgetting about the fact

1:52.4

that every 30 years it would then need to be replaced.

1:55.5

I can't we get much more lithium from Australia, from Argentina, develop better ways of

2:00.6

mining lithium cheaper ways, why is that harder, say, than developing fracking?

2:05.0

It's harder because they've been looking for lithium now for quite a few decades and

...

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