The Office of the Comptroller of the Currency (OCC) has issued a regulation that would prevent banks from refusing to fund legal activities that they disapprove of, such as oil and gas drilling. During the past year, several major banks, including Bank of America, Goldman Sachs, J. P. Morgan, and others, announced they will not…
Search Results for: energy
Coal Fantasies?
The Economist, a British magazine, is among the more objective political publications. But a recent editorial (behind a paywall) suggests that it is engaging in unrealistic fantasies when it comes to climate change. The editorial, “Make Coal History,” begins by noting cheerfully that China’s Xi Jinping plans to cut the nation’s “net carbon emissions” to…
Where Are the Environmental Critics of China?
When it comes to climate change, China talks about reducing emissions but keeps building coal plants. So why are environmental groups so soft on China? Francis Menton explains on the Manhattan Contrarian. He notes what two leading environmental groups say about China (and there are more examples): Environmental Defense Fund, “Why China is at the…
The Costs of Moving Away from Fossil Fuel
While American investors like Larry Fink of BlackRock are trying to get companies to account for the potential risks of climate change (such as costly drought and flooding), European investors want major companies to disclose the financial impact of the Paris Climate Agreement. In other words, the move to renewable energy—mandated by the Paris agreement—has…
How to Fund Conservation and Habitat Protection
Outdoor enthusiasts can fund wildlife conservation, say Tate Watkins and Jack Smith in their report “A Better Way to Fund Conservation and Recreation,” published by PERC, the Property and Environment Research Center. Already, taxes and fees on hunting and fishing provide nearly three times the funding for parks and public lands provided by the famed Land…
Some Questions about ‘Environmental’ Investing
There’s an eerie resemblance between today’s ESG (environmental, social, and governance) investing and the Porter Hypothesis, an earlier claim about how regulation can lead to profits. (Its architect, Michael Porter, Harvard business professor, is pictured here.) First, some definitions: ESG investing means investors choose companies that meet certain non-financial criteria. So, in the environmental area…