This week’s stories cover Facebook’s cryptocurrency plans, why Norway is banning Aussie polluters and how Beyond Meat is faring post-IPO. (1:24 min read).
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1. Facebook unveils Libra
Facebook finally unveiled its top-secret cryptocurrency project; their very own crypto called Libra. The social giant wants to facilitate easy global transactions for its user when Libra launches in 2020.
Given Facebook has over 2 billion users, Libra has the potential to materially increase the use of digital currency.
Libra is designed to avoid the volatile value associated with other crypto, such as Bitcoin, by tying its value to a basket of global currencies and assets.
If Facebook is successful, it could open up a whole new revenue stream for the company.
However, it won’t be all smooth sailing as governments around the world consider how to regulate cryptocurrencies.
2. Norway goes greener
Norway’s parliament recently passed a set of tightened ethical investment rules.
As a result, its sovereign wealth fund will have to divest some of its oil stocks and coal investments. Given the fund’s trillion-dollar scale, impact will be global and far-reaching.
The Financial Review recently reported up to $3.7 billion of Australian fossil fuel companies may be sold by the Norwegian sovereign wealth fund.
The latest round of restrictions indicate the shift toward cleaner, greener investments is accelerating around the world.
3. Beyond Meat living up to the hype
Investors in Beyond Meat’s IPO were handsomely rewarded with its shares price surging past $100 per share, compared with the IPO price of $25.
As more consumers choose to reduce meat consumption for health and environmental reasons, companies producing plant-based meat substitutes are likely to grow and attract sustainable investors.
Beyond Meat has also recently made it to our shores. You can see how it compares to the ‘real’ thing by visiting your local Grill’d restaurant, or finding the patties at select supermarkets.
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