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The Times’ Owen Walker attributes this increase to more demand for renewables because countries are looking for ways to meet their commitments under the Paris Agreement. But more than that, it is the investors themselves that are looking to make their money “greener” — including institutional investors whose customers are demanding that their retirement accounts have a low carbon footprint.
It is an interesting move for Kim, who is a medical doctor by training, and co-founded the nonprofit health care organization Partners in Health in 1987 and also served as President of Dartmouth College. He has been President of the Bank since 2012, and had accepted another five-year term in 2017.
Why This Matters: The World Bank is one of the largest donors to infrastructure projects in developing countries. Its leadership has a huge say in how green those projects will be. The U.S. President — or his chief advisors — will say who is nominated, because the U.S. government is the largest investor in the bank, holding 17% of its shares. Who will President Trump nominate? According to CNN, Ivanka Trump is running the nomination process and Idra Nooyi, the former CEO of Pepsi, is the top contender. Nooyi was a mentor to Ivanka, and if selected, she would be the first woman to lead the Bank. The question is whether a Trump pick would prioritize climate adaptation and renewable energy projects.
by Natasha Lasky, ODP Contributing Writer The city of San Jose, CA will become the largest city in the United States to ban natural gas from all new construction. The San Jose City Council is expected to approve a proposal that forbids natural gas use in new commercial and high-rise residential buildings, expanding an earlier […]
Chicago-based Invenergy announced this week that it will construct at a site in northeastern Texas a $1.6 billion project that will provide 1,310-megawatts of solar energy by 2023. The project is likely to create approximately 600 jobs during the construction, as well as bring in more than $250 million in landowner payments and $200 million in […]
by Ashira Morris, ODP Contributing Writer Since the beginning of the pandemic, most Americans have received a single check for $1,200. However, fossil fuel companies are not most Americans. The US government spent big — $15 billion dollars big — to help the companies responsible for the climate crisis. According to a new analysis by […]
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