TIME spoke with Gro Intelligence CEO Sara Menker about a new Carbon Barometer, and the broader trends they’re seeing in a warming world
or the past few years, Sara Menker has been pushing one basic idea: that we can use technology and data to help manage the supply shocks and food shortages caused by global warming. It’s an alluring proposition, and one that has driven the growth of her commodities data platform Gro Intelligence. Co-headquartered in New York and Nairobi, with an office in SingaporeMenker says her focus on commodities and systemic risks was informed by her childhood growing up in Addis Ababa, Ethiopia.
What's interesting is that we talk about the E.U. as if every E.U. country is exactly in the same place in that journey, and one of the things that this barometer highlights is there's actually a pretty decent difference between Spain and France, for example, or Spain and Germany, which has a bigger gap, where the implied carbon price in Spain is $129.
What hasn't changed? So when I first talked with TIME, we were just starting to step out into the world as a player at a bigger scale in terms of influencing public policy and having our data be used by governments for really big consequential decisions. The start of that journey was during COVID. It was at a time when people were very focused on food security, and we were really the one data provider that could provide that depth of knowledge for every part of the world.
We can now use our climate data to trade equities and fixed income instruments. That was not anywhere in the realm of possibility [two years ago]. We sold our data to financial institutions originally for them to trade commodities using our data. They were not using it to trade things like equities, fixed income securities, or macroeconomic policies, where some of our indices become predictive of things like a country’s actual inflation as opposed to just food inflation.
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