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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.
Why This Matters: The investments in electric vehicles are clearly market-driven, but it cannot hurt to have Presidential frontrunner Joe Biden on the campaign trail talking about using the federal purchasing power to transition the federal fleet to electric vehicles.
Later this evening President Donald Trump and former Vice President Joe Biden will convene for the final presidential debate before the general election on November 3rd. While the first debate had an unexpected question on climate change from moderator Chris Wallace, tonight’s moderator NBC News’ Kristen Welker pre-selected climate change as a debate topic outright. […]
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