EU Seeks to Classify Some Natural Gas and Nuclear as Green
With energy costs soaring and citizens complaining, the EU shifts to a more pragmatic energy policy.
With energy costs soaring and citizens complaining, the EU shifts to a more pragmatic energy policy.
In the context of the massive attention paid to climate change, nations around the world have committed to substantially reducing and even eliminating their carbon emissions by 2050.
I have no doubt about the reality of climate change, but as I lay out in my latest book, False Alarm: How Climate Change Panic Costs Us Trillions, Hurts The Poor And Fails To Fix The Planet, many of the very costly measures that dominate our climate conversation have proved next to useless.
The cost of going green is about to become more expensive as polysilicon prices are erupting and will likely remain elevated due to factory shutdowns in China.
Companies are turning their struggling funds green to capture the flood of cash into sustainable investments. Fund companies are rebranding their out-of-fashion investment offerings as green, hoping to grab a portion of the cash pouring into sustainable products. In some cases, the rebranding has been in name only.
Interest in environmental, social, and governance-themed, or ESG, investing has seen significant growth in recent years, but it has been matched by persistent complaints from some market participants. Chief among these is a lack of clear definitions for what constitutes a “socially responsible,” “green,” or “sustainable” investment product.
Progressive activists with ideas unlikely to prevail at the ballot box are directing their efforts at big-business boardrooms. We may finally be seeing a turning point in the world of “sustainable” and “responsible” investing. For the past two decades, those labels have been informed by environmental, social, and governance (ESG) theory — a view of corporate conduct driven by left-wing political goals.
Despite global expectations to move away from coal, demand in China is still strong, as rising global temperatures causing heat waves are driving up electricity demand and coal prices. Thermal coal futures reached record highs in July as a heatwave in China sent electricity use soaring.
While many are quick to crow about the “Earth-saving” benefits of electric vehicles, few have looked at the incremental demand in power necessary to meet the growing demand of the “green” vehicles. Furthermore, even fewer have looked at who could stand to benefit from the increased demand.