Space journeys promoting environmental sustainability.

The space industry is experiencing a period of rapid growth and technological innovation, with far-reaching implications for society and the planet. These advancements could lead to better global oversight of climate data, improved climate protection measures, and more effective ESG reporting.

Malcolm McPartlin, co-manager of the Aegon Global Sustainable Equity Fund, discusses the potential benefits of these developments. Based at Aegon Asset Management, McPartlin believes that technological advancements in the space industry will enable companies to continue having a positive impact on society and the planet.

One of the key drivers of this change is the reusable rockets developed by SpaceX, and the advancing miniaturization of technology. These advancements have led to private capital investments improving the economics of space travel, making it more accessible and affordable.

SpaceX, led by Elon Musk, has received a contract from NASA to build a new lunar lander and is set to take tourists into orbit in September, allowing them to orbit the Earth for several days. Not to be outdone, Richard Branson flew into space on July 11, 2021, with his VSS Unity, and Jeff Bezos launched a short trip into zero gravity from the grounds of his space company Blue Origin in late July. Even Musk has secured a ticket with Branson for a space flight.

The technological developments in the space industry over the past decade could have positive impacts on society and the planet in the coming years. For instance, the provision of satellite-supported online connectivity to the three to four billion people worldwide currently without it could significantly impact education, trade, and economic prosperity in developing countries.

Moreover, positive developments in the space economy are contributing to a greener world and society. Major space companies are committing to sustainable strategies in satellite development and space missions, while emerging startups are developing technologies for space debris collection and disposal to reduce orbital pollution risks. Advances in green hydrogen production using solar energy and the industrial pilot production of high-efficiency tandem solar cells also support environmentally friendly energy solutions relevant for space and Earth applications.

In conclusion, the space industry is undergoing a transformation that has the potential to benefit society and the planet in numerous ways. From better climate data and insights to improved climate protection measures and more effective ESG reporting, these advancements could lead to a greener, more sustainable future for all.