Fruit and vegetable allotments on the outskirts of Henley-on-Thames, England.
David Goddard | Getty Images News | Getty Images
From oranges and lemons grown in Spain to fish caught in the wilds of the Atlantic, many are spoiled for choice when it comes to picking the ingredients that go on our plate.
Yet, as concerns about the environment and sustainability mount, discussions about how — and where — we grow our food have become increasingly pressing.
Last month, the debate made headlines in the U.K. when the second part of The National Food Strategy, an independent review commissioned by the U.K. government, was released.
The wide-ranging report was headed up by restaurateur and entrepreneur Henry Dimbleby and mainly focused on England’s food system. It came to some sobering conclusions.
Its executive summary said the food we consume — and the way we produce it — was “doing terrible damage to our planet and to our health.”
The publication said the global food system was “the single biggest contributor to biodiversity loss, deforestation, drought, freshwater pollution and the collapse of aquatic wildlife.” It was also, the report claimed, “the second-biggest contributor to climate change, after the energy industry.”
Dimbleby’s report is one example of how the alarm is being sounded when it comes to food systems, a term the Food and Agriculture Organization of the UN says encompasses everything from production and processing to distribution, consumption and disposal.
According to the FAO, food systems consume 30% of the planet’s available energy. It adds that “modern food systems are heavily dependent on fossil fuels.”
All the above certainly provides food for thought. Below, CNBC’s Sustainable Future takes a look at some of the ideas and concepts that could change the way we think about agriculture.
Growing in cities
Around the world, a number of interesting ideas and techniques related to urban food production are beginning to gain traction and generate interest, albeit on a far smaller scale compared to more established methods.
Take hydroponics, which the Royal Horticultural Society describes as “the science of growing plants without using soil, by feeding them on mineral nutrient salts dissolved in water.”
In London, firms like Growing Underground are using LED technology and hydroponic systems to produce greens 33-meters below the surface. The company says its crops are grown throughout the year in a pesticide free, controlled environment using renewable energy.
With a focus on the “hyper-local”, Growing Underground claims its leaves “can be in your kitchen within 4 hours of being picked and packed.”
Another business attempting to make its mark in the sector is Crate to Plate, whose operations are centered around growing lettuces, herbs and leafy greens vertically. The process takes place in containers that are 40 feet long, 8 feet wide and 8.5 feet tall.
Like Growing Underground, Crate to Plate’s facilities are based in London and use hydroponics. A key idea behind the business is that, by growing vertically, space can be maximized and resource use minimized.
On the tech front, everything from humidity and temperature to water delivery and air flow is monitored and regulated. Speed is also crucial to the company’s business model.
“We aim to deliver everything that we harvest in under 24 hours,” Sebastien Sainsbury, the company’s CEO, told CNBC recently.
“The restaurants tend to get it within 12, the retailers get it within 18 and the home delivery is guaranteed within 24 hours,” he said, explaining that deliveries were made using electric vehicles. “All the energy that the farms consume is renewable.”
Grow your own
While there is a sense of excitement regarding the potential of tech-driven, soilless operations such as the ones above, there’s also an argument to be had for going back to basics.
In the U.K., where a large chunk of the population have been working from home due to the coronavirus pandemic, the popularity of allotments — pockets of land that are leased out and used to grow plants, fruits and vegetables — appears to have increased.
In September 2020 the Association for Public Service Excellence carried out an online survey of local authorities in the U.K. Among other things it asked respondents if, as a result of Covid-19, they had “experienced a noticeable increase in demand” for allotment plots. Nearly 90% said they had.
“This alone shows the public value and desire to reconnect with nature through the ownership of an allotment plot,” the APSE said. “It may also reflect the renewed interest in the public being more self-sustainable, using allotments to grow their own fruit and vegetables.”
In comments sent to CNBC via email, a spokesperson for the National Allotment Society said renting an allotment offered plot holders “the opportunity to take healthy exercise, relax, have contact with nature, and grow their own seasonal food.”
The NAS was of the belief that British allotments supported “public health, enhance social cohesion and could make a significant contribution to food security,” the spokesperson said.
A broad church
Nicole Kennard is a PhD researcher at the University of Sheffield’s Grantham Centre for Sustainable Futures.
In a phone interview with CNBC, she noted how the term “urban agriculture” could refer to everything from allotments and home gardens to community gardens and urban farms.
“Obviously, not all food is going to be produced by urban agriculture, but it can play a big role in feeding local communities,” she said.
There were other positives, too, including flood and heat mitigation. “It’s … all those benefits that come with having green spaces in general but then there’s the added plus, [which] is that you’re producing food for local consumption.”
On urban farming specifically, Kennard said it provided “the opportunity to make a localized food system” that could be supported by consumers.
“You can support farms that you know, farmers that you know, that are also doing things that contribute to your community,” she said, acknowledging that these types of relationships could also be forged with other types of farms.
Looking ahead
Discussions about how and where we produce food are set to continue for a long time to come as businesses, governments and citizens try to find ways to create a sustainable system that meets the needs of everyone.
It’s perhaps no surprise then that some of the topics covered above are starting to generate interest among the investment community.
Speaking to CNBC’s “Squawk Box Europe” in June, Morgan Stanley’s global head of sustainability research, Jessica Alsford, highlighted this shift.
“There’s certainly an argument for looking beyond the most obvious … ways to play the green theme, as you say, further down the value and the supply chain,” she said.
“I would say as well though, you need to remember that sustainability covers a number of different topics,” Alsford said. “And we’ve been getting a lot of questions from investors that want to branch out beyond the pure green theme and look at connected topics like the future of food, for example, or biodiversity.”
For Crate to Plate’s Sainsbury, knowledge sharing and collaboration will most likely have a big role to play going forward. In his interview with CNBC, he emphasized the importance of “coexisting with existing farming traditions.”
“Oddly enough, we’ve had farmers come and visit the site because farmers are quite interested in installing this kind of technology … in their farm yards … because it can supplement their income.”
“We’re not here to compete with farmers, take business away from farmers. We want to supplement what farmers grow.”
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A new Tesla prototype was spotted again, reigniting speculation among Tesla shareholders, even though it’s likely just a Model Y, potentially a bit smaller, and the upcoming stripped-down, cheaper version.
It sparked a lot of speculation about it being the new “affordable” compact Tesla vehicle.
There’s confusion in the Tesla community around Tesla’s upcoming “affordable” vehicles because CEO Elon Musk falsely denied a report last year about Tesla’s “$25,000” EV model being canceled.
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The facts are that Musk canceled two cheaper vehicles that Tesla was working on, commonly referred as “the $25,000 Tesla” in early 2024. Those vehicles were codenamed NV91 and NV92, and they were based on the new vehicle platform that Tesla is now reserving for the Cybercab.
Instead, Musk noticed that Tesla’s Model 3 and Model Y production lines were starting to be underutilized as the Company faced demand issues. Therefore, Tesla canceled the vehicles program based on the new platform and decided to build new vehicles on Model 3/Y platform using the same production lines.
We previously reported that these electric vehicles will likely look very similar to Model 3 and Model Y.
In recent months, several other media reports reinforced this, and Tesla all but confirmed it during its latest earnings call, when it stated that it is “limited in how different vehicles can be when built on the same production lines.”
Now, the same Tesla prototype has been spotted over the last few days, and it sent the Tesla shareholders community into a frenzy of speculations:
Electrek’s Take
As we have repeatedly reported over the last year, the new “affordable” Tesla “models” coming are basically only stripped-down Model 3 and Model Y vehicles.
They might end up being a little smaller by a few inches, and Tesla may use different model names, but they will be extremely similar.
If this is it, which is possible, you can see it looks almost exactly like a Model Y.
It’s hard to confirm if it’s indeed smaller because of the angle of the vehicle compared to the other Model Ys, but it’s not impossible that the wheelbase is a bit smaller – although it’s hard to confirm.
Either way, the most significant changes for these stripped-down, more affordable “models” are expected to be cheaper interior materials, like textile seats instead of vegan leather, no heated or ventilated seats standard, no rear screen, maybe even no double-panned acoustic glass and a lesser audio system.
As previously stated, the real goal of these new variants, or models, is to lower the average sale price in order to combat decreasing demand and maintain or increase the utilization rate of Tesla’s current production lines, which have been throttled down in the last few years to now about 60% utilization.
If this trend continues, Tesla would find itself in trouble and may even have to close its factories.
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CANNES — Wall Street’s new plumbing is being built on Ethereum and this week its architects took over the same French Riviera villas and red carpet venues that host the Cannes Film Festival in May.
The Ethereum Community Conference, or EthCC, took over the beachside town that was swarming with crypto founders, developers, and some of the institutional giants now building atop the infrastructure.
The crypto elite climbed the iconic red-carpeted steps of the Palais des Festivals — a cinematic landmark now repurposed as the stage for Ethereum’s flagship European event.
“The atmosphere this year was palpable in Cannes,” said Bettina Boon Falleur, the powerhouse behind EthCC for the past seven years. “The prestige of the location, combined with the quality of talks, has reinforced Ethereum’s stature and purpose in the wider ecosystem.”
Private parties sprawled across cliffside estates and exclusive resorts, but the conversations were less about price action and more about the blockchain’s evolving role as the back-end of global finance.
EthCC, now in its eighth year, has tracked Ethereum’s trajectory from scrappy experiment to institutional backbone.
“That impact was unmistakable this year,” Falleur said. “From Robinhood embracing decentralized finance infrastructure via Arbitrum to local governments like the City of Cannes exploring deeper integration with the crypto economy.”
Indeed, one of the boldest moves came this week from Robinhood, which became the first publicly traded U.S. company to launch tokenized stocks on-chain.
At a product showcase held inside a Belle Époque mansion overlooking the sea, Robinhood unveiled a sweeping new crypto strategy — including the ability for European users to trade tokenized U.S. stocks and ETFs via Arbitrum, a Layer 2 network built on Ethereum.
The announcement helped push Robinhood stock past $100 for the first time, capping off a week of fresh all-time highs and a more than 30% rally since being snubbed by the S&P 500 during a recent rebalance.
Inside the Palais des Festivals, ETHCC draws founders, developers, and institutions into the same halls that host the world’s biggest film premieres — this time, for the future of finance.
MacKenzie Sigalos
Ether, the token native to the Ethereum blockchain, was up nearly 6% on the week and several public equities tied to the blockchain have rallied alongside it.
BitMine Immersion Technologies, a company that mines bitcoin, gained more than 1,200% since announcing it would make ether its primary treasury reserve asset. Bit Digital, which recently exited bitcoin mining to “become a pure play” ethereum staking and treasury company, gained more than 34% this week. And SharpLink Gaming, which added more than $20 million in ether to its balance sheet this week, jumped more than 28% on Thursday.
Ether ETF inflows are rising again too — a sign that institutional investors are warming back up.
Ether is still down more than 20% this year and lags far behind bitcoin in market cap and adoption. But funds tracking ETH have seen two straight months of mostly net inflows, according to CoinGlass data. Still, ether ETFs total just $11 billion — compared to $138 billion in bitcoin ETFs.
Institutions aren’t betting on Ethereum for hype — they’re betting on infrastructure.
Even as prices stall and the network faces headwinds from slower base layer revenues and faster rivals like Solana, the momentum is shifting toward utility.
“Ethereum is getting plugged into these core transactional systems,” Paul Brody, global blockchain leader at EY, told CNBC on the sidelines of EthCC. “Investors, savers, people moving money — they are going to start shifting from some of the older mechanisms of doing this into Ethereum ecosystems that can do these transactions faster, cheaper, but also very importantly, with significant new functionality attached to it.”
Crypto founders and developers climb the iconic red-carpeted steps of the Palais des Festivals — a familiar backdrop for the Cannes Film Festival, now repurposed for Ethereum’s flagship European event.
MacKenzie Sigalos
Deutsche Bank recently announced it’s building a tokenization platform on zkSync — a faster, cheaper blockchain built on top of Ethereum — to help asset managers issue and manage tokenized funds, stablecoins, and other real-world assets while meeting regulatory and data protection requirements.
Coinbase and Kraken are also racing to own the crossover between traditional stocks and crypto.
Coinbase has filed with the SEC to offer trading in tokenized public equities, a move that would diversify its revenue stream and bring it into more direct competition with brokerages like Robinhood and eToro.
Kraken announced plans to offer 24/7 trading of U.S. stock tokens in select overseas markets.
BlackRock‘s tokenized money market fund, BUIDL — launched on Ethereum last year — offers qualified investors on-chain access to yield with redemptions settled in USDC in real time.
Stablecoins, meanwhile, continue to serve as the backbone of Ethereum’s financial layer.
“The builders and contributors at EthCC aren’t chasing the next bull run,” Falleur said, “they’re laying the groundwork to make Ethereum home for the next billion users.”
Even as newer blockchains tout faster speeds and lower fees, Ethereum is proving its staying power as a trusted network.
Vitalik Buterin, Ethereum’s co-founder, told CNBC in Cannes that there is an assumption that institutions only care about scale and speed — but in practice, it’s the opposite.
Ethereum co-founder Vitalik Buterin delivers a keynote at ETHCC, laying out the network’s next steps — and its values test — as institutional adoption accelerates.
EthCC
“A lot of institutions basically tell us to our faces that they value Ethereum because it’s stable and dependable, because it doesn’t go down,” he said.
Buterin added that firms often ask about privacy and other long-term features — the kinds of concerns that institutions, he said, “really value.”
Tomasz Stańczak, the new co-executive director of the Ethereum Foundation, said institutions are choosing Ethereum for the same core reasons.
“Ten years without stopping for a moment. Ten years of upgrades, with a huge dedication to security and censorship resistance,” he said.
He added that when institutions send orders to the market, they want to be “absolutely sure that their order is treated fairly, that nobody has preference, that the transaction actually is executed at the time when it’s delivered.”
Those guarantees have become increasingly valuable as stablecoins and tokenized assets move into the mainstream.
Ethereum’s core values — neutrality, security, and censorship resistance — are emerging as competitive advantages.
The real test now is whether Ethereum can scale without losing its values.
“We don’t just want to succeed,” Buterin said from the mainstage of the Palais this week. “We want to be something that is worthy of succeeding.”
He said the hope is that future generations will look back and see a network that truly delivered openness, freedom, and permissionless access to the masses.
White-clad guests dance poolside at the rAAVE party in Cannes.
MacKenzie Sigalos
But the week didn’t end in the conference halls, it closed with tradition. On the balcony of Villa Montana, overlooking the Bay of Cannes, the rAAVE party lit up.
White-clad guests sipped cocktails as the DJ spun by the pool, haze curling from smoke machines.
This year, Chainlink co-founder Sergey Nazarov and DeFi icon Stani Kulechov, founder of Aave, stood atop the balcony overlooking the crowd and the light-dotted skyline of Cannes.
It was a fitting snapshot of the momentum behind Ethereum’s institutional rise and symbolic of Web3’s shift from niche experiment to financial mainstay.