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Unilever CEO Alan Jope photographed at the World Economic Forum in May 2022.

Hollie Adams | Bloomberg | Getty Images

The CEO of consumer goods giant Unilever said Tuesday that prices would likely continue to rise in the near term, adding that his firm had a playbook for high inflation thanks to its business dealings in markets like Argentina and Turkey.

Speaking to CNBC’s Joumanna Bercetche at the World Economic Forum in Davos, Switzerland, Alan Jope talked about how his firm was managing its operations in the current climate.

“For the last 18 months we’ve seen extraordinary input cost pressure … it runs across petrochemical derived products, agricultural derived products, energy, transport, logistics,” he said.

“It’s been feeding through for quite some time now and we’ve been accelerating the rate of price increases that we’ve had to put into the market,” he added.

“So far, the consumer response in terms of volume softness has been very muted, the consumer has been very resilient,” Jope said.

“We do see the prospect of higher volume elasticity as winter energy costs hit, as households’ savings levels come down and that buffer goes away and as prices continue to rise,” he said.

Unilever CEO: Inflation is at its peak, but further price rises are still to come

Last October, Unilever published its third-quarter results for 2022, with the firm reporting price growth of 12.5%.  

Jope was asked if he foresaw any moderation when it came to inflationary pressures. “It’s very hard to predict the future of commodity markets,” he replied.

“Even if you press the oil major CEOs, they’ll be a little cagey on giving an outlook on energy prices.”

Unilever’s view, he said, was that “we know for sure there’s more inflationary pressure coming through in our input costs.”

“We might be, at the moment, around peak inflation, but probably not peak prices,” he went on to state.

“There’s further pricing to come through, but the rate of price increases is probably peaking around now.”

Stock picks and investing trends from CNBC Pro:

Unilever has a global footprint and owns brands including Ben & Jerry’s, Magnum and Wall’s.

During his interview with CNBC, Jope touched upon the international dimension of his business and how the experience of operating in a range of markets was steering it through the current climate.  

“Nobody running a business at the moment has really lived through global inflation, it’s a long time since we’ve had global inflation,” he said.

“But we’re used to high levels of inflation from doing business in places like Argentina, or Turkey, or parts of Southeast Asia,” he added.

“So we do have a playbook, and the playbook is that it’s important to protect the shape of the P&L by landing price.”

“And so it’s not that we’ve taken more price, we just started acting earlier than many of our peers, and the guidance that we’ve been getting from our investors is they support that and feel that that’s an appropriate action.”  

This, Jope explained, was “something we have learned from being in these high inflationary markets, though … much of that inflation is currency weakness, historically.”

“But now those markets are having to deal with the combination of commodity pressure and currency weakness. So our instinct is to act quickly when costs start coming through.”

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Tesla launches accessory to Macgyver power outlets on the go on new cheaper Cybertruck

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Tesla launches accessory to Macgyver power outlets on the go on new cheaper Cybertruck

Tesla has launched a new accessory enabling you to “Macgyver” a couple of power outlets from the Cybertruck’s charge port.

It appears to be designed for the new cheaper Cybertruck, which doesn’t have power outlets in its bed.

Earlier this week, Tesla launched the Cybertruck Long Range RWD: a new, cheaper, and badly nerfed version of the electric pickup truck.

The new version is extremely disappointing as it is $9,000 more expensive than the Cybertruck RWD was supposed to be, and while it has more range than originally planned, Tesla has removed a ton of features, including some important ones.

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Here’s what you lose with the Cybertruck RWD:

  • You get a single motor RWD instead of Dual Motor AWD
  • You lose the adaptive air suspension
  • No motorized tonneau, but you have an optional $750 soft tonneau
  • Textile seats instead of vegan leather
  • Fewer speakers
  • No rear screen for the backseat
  • No power outlets in the bed

The last one has been pretty disappointing, as it can’t be that expensive to include, and Tesla is basically removing $20,000 worth of features for only a $10,000 difference with the Dual Motor Cybertruck.

But the automaker appears to have come up with a partial solution.

Tesla has launched a $80 ‘Powershare Outlet Adapter’ on its online store:

When combined with Tesla’s Gen 3 Mobile Connector plugged into the Cybertruck’s charge port, it gives you two 120V 20A power outlets.

Tesla describes the product:

Powershare Outlet Adapter allows you to power electronic devices using Mobile Connector and your Powershare-equipped vehicle’s battery. To use this adapter, plug Mobile Connector’s handle into your Powershare-equipped vehicle’s charge port and connect the adapter to the other end of your Mobile Connector. You can then use this adapter to plug in any compatible electronic device you want to power.

For now, Tesla says that this only works for the Cybertruck and you have to buy the $300 mobile charging connector, which doesn’t come with the truck.

Electrek’s Take

I guess it’s better than nothing, but I’m still super disappointed in the new trim. It makes no sense right now.

Not only you lose the 2x 120V, 1x 240V outlets in the bed, but you also lose the 2x 120V outlets in the cabin. Now, you can can pay $380 to have a “Macgyver” solution for 2 120V outlets in the back.

I’m convinced that Tesla designed this trim simply to make the $80,000 Cybertruck AWD look better value-wise.

It looks like Tesla took out about $20,000 worth of features while giving buyers only a $10,000 discount.

It’s just the latest example of Tesla losing its edge.

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Great news: IMO agrees to first-ever global carbon price on shipping

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Great news: IMO agrees to first-ever global carbon price on shipping

The International Maritime Organization, a UN agency which regulates maritime transport, has voted to implement a global cap on carbon emissions from ocean shipping and a penalty on entities that exceed that limit.

After a weeklong meeting of the Marine Environment Protection Committee of the IMO and decades of talks, countries have voted to implement binding carbon reduction targets including a gradually-reducing cap on emissions and associated penalties for exceeding that cap.

Previously, the IMO made another significant environmental move when it transitioned the entire shipping industry to lower-sulfur fuels in 2020, moving towards improving a longstanding issue with large ships outputting extremely high levels of sulfur dioxide emissions, which harm human health and cause acid rain.

Today’s agreement makes the shipping industry the first sector to agree on an internationally mandated target to reduce emissions along with a global carbon price.

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The agreement includes standards for greenhouse gas intensity from maritime shipping fuels, with those standards starting in 2028 and reducing through 2035. The end goal is to reach net-zero emissions in shipping by 2050.

Companies that exceed the carbon limits set by the standard will have to pay either $100 or $380 per excess ton of emissions, depending on how much they exceed limits by. These numbers are roughly in line with the commonly-accepted social cost of carbon, which is an attempt to set the equivalent cost borne by society by every ton of carbon pollution.

Money from these penalties will be put into a fund that will reward lower-emissions ships, research into cleaner fuels, and support nations that are vulnerable to climate change.

That means that this agreement represents a global “carbon price” – an attempt to make polluters pay the costs that they shift onto everyone else by polluting.

Why carbon prices matter

The necessity of a carbon price has long been acknowledged by virtually every economist. In economic terms, pollution is called a “negative externality,” where a certain action imposes costs on a party that isn’t responsible for the action itself. That action can be thought of as a subsidy – it’s a cost imposed by the polluter that isn’t being paid by the polluter, but rather by everyone else.

Externalities distort a market because they allow certain companies to get away with cheaper costs than they should otherwise have. And a carbon price is an attempt to properly price that externality, to internalize it to the polluter in question, so that they are no longer being subsidized by everyone else’s lungs. This also incentivizes carbon reductions, because if you can make something more cleanly, you can make it more cheaply.

Many people have suggested implementing a carbon price, including former republican leadership (before the party forgot literally everything about how economics works), but political leadership has been hesitant to do what’s needed because it fears the inevitable political backlash driven by well-funded propaganda entities in the oil industry.

For that reason, most carbon pricing schemes have focused on industrial processes, rather than consumer goods. This is currently happening in Canada, which recently (unwisely) retreated from its consumer carbon price but still maintains a price on the largest polluters in the oil industry.

But until today’s agreement by the IMO, there had been no global agreement of the same in any industry. There are single-country carbon prices, and international agreements between certain countries or subnational entities, often in the form of “cap-and-trade” agreements which implement penalties, and where companies that reduce emissions earn credits that they can then sell to companies that exceed limits (California has a similar program in partnership with with Quebec), but no previous global carbon price in any industry.

Carbon prices opposed by enemies of life on Earth

Unsurprisingly, entities that favor destruction of life on Earth, such as the oil industry and those representing it (Saudi Arabia, Russia, and the bought-and-paid oil stooge who is illegally squatting in the US Oval Office), opposed these measures, claiming they would be “unworkable.”

Meanwhile, island nations whose entire existence is threatened by climate change (along with the ~2 billion people who will have to relocate by the end of the century due to rising seas) correctly said that the move isn’t strong enough, and that even stronger action is needed to avoid the worse effects of climate change.

The island nations’ position is backed by science, the oil companies’ position is not.

While these new standards are historic and need to be lauded as the first agreement of their kind, there is still more work to be done and incentives that need to be offered to ensure that greener technologies are available to help fulfill the targets. Jesse Fahnestock, Director of Decarbonisation at the Global Maritime Forum, said: 

While the targets are a step forward, they will need to be improved if they are to drive the rapid fuel shift that will enable the maritime sector to reach net zero by 2050. While we applaud the progress made, meeting the targets will require immediate and decisive investments in green fuel technology and infrastructure. The IMO will have opportunities to make these regulations more impactful over time, and national and regional policies also need to prioritise scalable e-fuels and the infrastructure needed for long-term decarbonisation.

One potential solution could be IMO’s “green corridors,” attempts to establish net-zero-emission shipping routes well in advance of the IMO’s 2050 net-zero target.

And, of course, this is only one industry, and one with a relatively low contribution to global emissions. While the vast majority of global goods are shipped over the ocean, it’s still responsible for only around 3% of global emissions. To see the large emissions reductions we need to avoid the worst effects of climate change, other more-polluting sectors – like automotive, agriculture (specifically animal agriculture), construction and heating – all could use their own carbon price to help add a forcing factor to drive down their emissions.

Lets hope that the IMO’s move sets that example, and we see more of these industries doing the right thing going forward (and ignoring those enemies of life on Earth listed above).

The agreement still has to go through a final step of approval on October, but this looks likely to happen.


Even without a carbon price, many homeowners can save money on their electricity bills today by going solar. And if you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. – ad*

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Podcast: new Tesla Cybertruck, tariff mayhem, Lucid buys Nikola, and more

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Podcast: new Tesla Cybertruck, tariff mayhem, Lucid buys Nikola, and more

In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss the new Tesla Cybertruck RWD, more tariff mayhem, Lucid buying Nikola, and more.

The show is live every Friday at 4 p.m. ET on Electrek’s YouTube channel.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends at around 5 p.m. ET, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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We now have a Patreon if you want to help us avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the podcast:

Here’s the live stream for today’s episode starting at 4:00 p.m. ET (or the video after 5 p.m. ET):

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