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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 Amy Lupica, ODP Daily Editor Just weeks after China’s coal ambitions brought tensions to climate talks between US Climate Envoy John Kerry and Chinese officials, President Xi Jinping pledged to end all its financing of coal-fired projects abroad and allocate more funding to green and low-carbon energy projects in developing nations. The move represents […]
By Amy Lupica, ODP Daily Editor A new report has found that since the 2015 signing of the Paris agreement, more than 75% of the world’s planned coal plant projects have been scrapped, and 44 countries have no future coal plans whatsoever. The report’s authors hope this trend will continue as the COP26 conference in […]
By Amy Lupica, ODP Daily Editor The House Ways and Means Committee has released their portion of the reconciliation for the Democrats’ $3.5 trillion spending package. The plan follows through on many promises made by the Biden administration, including clean energy tax credits and credits for electric vehicle owners. The plan, announced on the heels […]
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