From Crypto to Australian Coal, All Roads Lead Back to Ukraine

From crypto creativity to Australian coal, right now all roads lead back to Russia’s invasion of Ukraine. Here are some of the things we’ve been thinking about in Australia this week. 

Ukraine’s success in raising crypto donations has been a masterclass in what a digital-first strategy can do for a country in its time of need. It’s also a cautionary tale. 

Rice is the latest commodity to get swept up in a market reaction that’s sent prices of everything from fertilizer soaring. As European utilities rush to find alternatives to Russian coal, Australia aims to capitalize on the demand. And the list of foreign companies pulling out of Russia is growing. It includes Nike, Apple, Exxon and Toyota. 

Meanwhile, a million people have already fled Ukraine. The UN projects another 3 million may follow them. 

Sanctions are punishing Russia’s wealthiest businesspeople, though — and Vladimir Putin himself. Meanwhile an international boycott of Russian vodka is building from Australia to the U.S. And China’s ties with Russia have the potential to reshape global politics.

Flood Figures

In a week when parts of Australia’s southeast coast have experienced the worst flooding in more than a decade, the latest report from the UN Intergovernmental Panel on Climate Change offers some pretty sobering figures

Since the 1970s, 44% of all disaster events have been related to flooding. And direct damage from floods will increase by a multiple of four or five at 4°C of warming, compared to 1.5°C. (The world is currently estimated to be on track for 2.7°C warming by 2100.) All that said, there are still reasons to be optimistic: Here are three of them. And here are some of the energy and climate implications of the Ukraine invasion. Alyssa McDonald

What We’re Reading

A few other things that caught our attention this week:

• Earnings estimates in Australia have surged 10% this year, outshining global peers. 
• China is probably about to set its lowest GDP target since the 1990s.
• Jan. 6 panel claims to have evidence that Trump committed crimes
• The teenager who tracked Elon Musk’s jet on Twitter is now chasing Russian oligarchs.

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