3 charts for you today:
This week President Biden announced an ambitious climate target for the United States: cutting the country's emissions in half by 2030, relative to 2005 levels.
Playing catch-up
The chart above explains why this is going to require a monumental effort. The green line shows what US emissions would look like if they had been cut at a steady pace (straight line) from 2005 to 2030. The actual US emissions in blue are not falling at that pace — although they are going down.
To be more specific, in order to meet this new goal, US carbon equivalent emissions would have had to fall at a pace of ~120 Mt CO2 per year since 2005. Instead they've fallen at ~60 Mt CO2. To catch up to the required pace, they need to drop at ~200 Mt CO2... which is a pretty steep acceleration.
What about the pandemic, didn't emissions fall a lot in 2020?
Indeed they did, around 10% according to estimates from the International Energy Agency. The issue is that the 2020 drop (not plotted on the chart) was likely only temporary thanks to reduced economic activity that is, already, bouncing back. Meeting Biden's target will require significantly more permanent effort, investment and change.
A lot of people regret not investing in many of the largest technology companies when they had the chance 10, 15, or 20 years ago. If you have those regrets already you can add Chipotle, the fast casual Mexican restaurant, to the list. Chipotle shares have increased 34x in value since 2006.
Burritos go digital
It's sometimes easy to over-analyse why companies do well. In Chipotle's case they clearly make tasty Mexican food that people want to eat, but they've also been quick to embrace online ordering in recent years. In 2020 Chipotle's digital business grew 174% year-on-year and this week they announced that, for the first time ever, digital sales made up more than half of their total revenue in a quarter.
That news comes a month after Chipotle announced that they had invested in autonomous delivery company Nuro, which "uses robotics in their fleet of on-road, occupantless and autonomous vehicles to deliver everyday consumer goods". If that investment pays off and goes mainstream maybe Chipotle will end up being a tech company after all.
A good year for toys...
Global toymaker Mattel reported 47% growth in its revenues in its most recent quarter, adding to the weight of evidence that it has been a very good 12 months to be a toymaker. With parents struggling to keep kids occupied, while other forms of entertainment have been off limits, physical toys have had something of a resurgence.
... particularly Barbie dolls
One famous brand of toy has done particularly well — sales of Barbie dolls rose 87% in the first 3 months of this year, relative to last year, according to toymaker Mattel. That's more than any other brand in their roster, and is pretty impressive for a product that was first released more than 60 years ago, back in 1959.
As old and simple as the product may be, the marketing strategy for Barbie dolls has become increasingly modern. A more diverse range of models, more digital content and multiple shows on Netflix and YouTube about Barbie and her pals (including boyfriend Ken) have all helped engage with children who are increasingly used to looking at screens.
1) President Biden is reportedly set to announce a tax-hike on the wealthiest Americans, which could include a doubling of capital gains taxes to 39.6% for anyone earning more than $1m.
2) NASA's Perseverance rover has successfully extracted oxygen from Mars' atmosphere, creating about 5 grams of oxygen, which is equivalent to about 10 minutes of breathable air for an astronaut.
3) Some interesting charts on UK government borrowing, which has hit its highest level since World War 2, to £303bn ($420bn) in the last 12 months.
4) According to Gallup, 51% of people can't think of a source that reports the news objectively. That's where 1440 can help, with its unbiased daily newsletter. 100% free, 100% factual — sign up here.**
5) Formula 1 is getting a new American race — in Miami — with a 10-year deal signed. The global motorsport is enjoying a rise in popularity in the US, thanks in part to Netflix's Drive to Survive series.
**This is sponsored content.
