Climate Change Failure ‘Working its Way Into Investor Thinking’: MSCI l Investments & Pensions Europe
- Investors are beginning to consider the possibility that the worst outcomes of climate change will not be avoided, according to index and analytics provider MSCI. MSCI said in an outlook paper that those investors already incorporating climate considerations into their portfolios were working on the underlying assumption that “some combination of technology and policy forces will limit emissions going forward, such that we can avoid the worst outcomes of climate change”.
Former Federal Reserve Chairs, Economists, Back Carbon Tax l The Hill
- Four former Federal Reserve chairs from both parties joined with a group of leading economists in endorsing a plan to tax carbon dioxide emissions and return the funds to taxpayers. Janet Yellen, Ben Bernanke, Alan Greenspan, and Paul Volcker, along with dozens of former chairmen of the Council of Economic Advisers and Nobel Laureate economists, signed on to an opinion piece published in The Wall Street Journal Wednesday evening laying out principles for a carbon “dividend” plan that they would support.
Pentagon Warns of Dire Risk to Bases, Troops From Climate Change l Bloomberg
- The U.S. Defense Department has issued a dire report on how climate change could affect the nation’s armed forces and security, warning that rising seas could inundate coastal bases and drought-fueled wildfires could endanger those that are inland. The 22-page assessment delivered to Congress on Thursday says about two-thirds of 79 mission-essential military installations in the U.S. that were reviewed are vulnerable now or in the future, to flooding and more than half are at risk from drought. About half also are at risk from wildfires, including the threat of mudslides and erosion from rains after the blazes.
Glaciers Are Retreating. Millions Rely on Their Water l The New York Times
- This article discusses how glaciers are crucial sources of water for people and crops in Central Asia, but global warming is causing glaciers there and around the world to shrink every year.
Corporate America Is Getting Ready to Monetize Climate Change l Bloomberg
- This article highlights how, as the Trump administration rolls back rules meant to curb global warming, new disclosures show that the country’s largest companies are already bracing for its effects. The documents reveal how widely climate change is expected to cascade through the economy -- disrupting supply chains, disabling operations and driving away customers, but also offering new ways to make money.
Want More Bang for Your Buck? Go Solar l Bloomberg
- For the fifth year in a row, global investment in clean energy topped $300 billion, according to Bloomberg NEF. 2018’s financing for new power-generation projects, research and development, and public-markets activity were up fivefold from 15 years ago, when Germany introduced its first major subsidy and policy supports for clean energy. Wind and solar make up the vast majority of all new clean-energy power generation now being built.