The “Inflation Reduction Act” is a political win on climate change for the Democrats, says James E. Hanley, but “on the actual policy level, the gains appear to be much more marginal than revolutionary.” Writing for the American Institute for Economic Research, the policy analyst says: “[M]any of these policies are continuations of old policies, rather…
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SEC Keeps Up the Pressure on Climate Change
The Securities and Exchange Commission has taken several steps to show it’s serious about requiring companies to meet “environmental, social, and governance” (ESG) standards . . . even though there are no such standards and developing them would be a massive and dubiously useful task. Using its power to require full disclosure of information needed…
Banker Wakes Up the ‘Woke’ on Climate Change. He May Lose His Job.
“Climate change is not a financial risk that we should worry about,” said Stuart Kirk, a responsible-investing executive of HBSC, one of the world’s largest banking and investment houses last week. He spoke at the “Moral Money” conference in London sponsored by the Financial Times. According to British sources, he was suspended from his job…
Elon Musk Has His Work Cut Out for Him—On Climate Change
Just as Elon Musk was working out details with Twitter, the company shared its policy on dealing with disinformation on climate change in Twitter advertising. The Earth Day announcement reaffirmed the company’s commitment to “people around the world use Twitter to connect with others passionate about protecting our planet.” Specifically, wrote two officials, “misleading advertisements…
‘Unjust, Ineffective, and Disastrous’: IMF and World Bank to Pressure Poor Nations on Climate Change
The International Monetary Fund (IMF) and the World Bank are creating funding programs that will push poor countries to cut back on carbon emissions, report two authors in Foreign Policy magazine. Vijaya Ramachandran and Arthur Baker, both of the Breakthrough Institute, write that the two institutions “are under pressure from their rich donor governments to…
The SEC Drops Its Climate Change Bomb
On March 21, the Securities and Exchange Commission (by a 3-1 vote) told public companies they must disclose the risks that climate change may have on their financial future. In its press release, the SEC said the requirement “would include disclosure of a registrant’s greenhouse gas emissions, which have become a commonly used metric to…