GEAB 204

EDITORIAL

As a political priority, climate change has lost momentum in the last years, not least as hard security concerns have taken centre stage.

But climate change, and wider environmental concerns, have not gone away. Moreover, the impact is ever more visible, with record heat waves and extreme weather events.

This inevitably will also have an impact on security, aggravating conflicts around resources, leading to forced migration and new geopolitical strategies – such as a grab for the Arctic and its riches.

However, not all is doom and gloom…

The security agenda requires a rethinking of existing supply chains and countermeasures which could also be beneficial regarding climate change. The increased emphasis on resilience, both at an infrastructure and societal level, will be important when it comes to adaptation to a new reality.

Moreover, the dominance of climate change on the political agenda came at the cost of other environmental issues, such as growing water contamination and the spread of microplastics. A broader security lens, especially one that is genuinely holistic, may give more prominence to these issues.

For investors, this implies a structural shift away from the “just-in-time” economy that is dominated by “efficiency”, and towards market structures where “resilience”, diversification” and “deliberate redundancy” are required.

In line with our previous analyses and anticipations, we still believe that geopolitical conflicts are no longer isolated crises and they now form a permanent systemic backdrop to our financial stability, which is still holding on, albeit precariously, as if on life support, at the mercy of a shock that everyone sees but is powerless to contain: the Strait of Hormuz, ready to trigger a catastrophic global domino effect.

In this context, the climate issue, which was still an absolute priority only yesterday, is certainly taking a back seat, not because it has been resolved – far from it – but because defence is becoming imperative, driven by the following implacable logic:

What is the point of saving the planet in 2050 if we are not certain we will make it through the summer?

If our economies force us to choose between security and climate, we can truly not afford the choice.

With this in mind and with so many challenges ahead, the temptation to escape – further, higher – may once again take hold, as if, failing to fix this world, we are compelled to imagine another…
A lunar alternative perhaps ?! [1]

Georgeta Grama-Moldovan,

Managing Director / GEAB by Anticipolis

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[1]  Back to the Moon: following the Artemis 2 mission, do humans plan to settle on the Moon? Source: La Depeche, 10/04/2026