As Trump’s fights get bigger, previous skirmishes fade
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Bomb Iran? Check. Attack Venezuela? Bomb Nigeria? Occupy Minneapolis? Start Middle Eastern War? Check, check, check.
As the dizzying array of new Trump campaigns this year escalated into a first all-out war this week, a curious thing happened to one of last year’s big conflicts. And it bodes well for climate investors.
The president’s legal team notified appeals and local courts it would no longer fight rulings against its efforts to punish law firms for not supporting Trump. It was good news for the firms who had fought the president’s legal threats and bad news for those who had given in.
It also left open the question of whether the number of conflicts the administration has started is getting too unwieldy for its team, or whether Donald Trump has simply moved on to bigger fish to fry. Either way, it’s good news for other groups who were threatened, such as elite universities and maybe the prescription drug industry. Or Greenland.
The biggest one, however, would be the green energy sector. As climate change fades as a political issue, Trump might eventually decide he doesn’t have time to waste fighting offshore wind farms and solar farms. As oil prices rise this week, green energy becomes even more attractive for investors, especially if the White House backs off.
Already some MAGA influencers, such as U.S. Homeland Security Advisor Stephen Miller’s wife Katie, have pushed for the administration to rethink its solar energy policies. That might also lead to a rethink about how important the climate battle is to the president’s policies.
After the legal climb down made headlines, Trump’s team reversed course, meaning he must have personally interjected. But the balls were already in motion and even if they do file appeals they will no longer be a priority for Team Trump.
The good thing for green investors about Trump’s many distractions may be that after a year there are so many even the president himself is becoming distracted.
Don’t forget to contact me directly if you have suggestions or ideas at dcallaway@callawayclimateinsights.com.
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Seven better-than-expected climate data points, and one cat lovers will hate
. . . . No, the earth is not on an inexorable path to being 6°C warmer by the end of the century. And there is no one “tipping point” beyond which there is no return when it comes to climate change. Mark Hulbert writes that these are just a couple of the important revelations in “Clearing The Air: A Hopeful Guide to Solving Climate Change in 50 Questions and Answers,” a new book by Hannah Ritchie, a senior researcher at Oxford University’s Program for Global Development and deputy editor of Our World In Data. So, Hulbert says, get your hard questions ready, all you doom-and-gloomers who think that fighting climate warming is a lost cause. For example, don’t wind farms kill a lot of birds? Well, they do, but, sorry, cat lovers, it’s nowhere near the number of birds done in by our feline friends.
Thursday’s subscriber insights
New York congestion pricing survives White House attack
. . . . New York City’s traffic congestion pricing program, now in its second year as the nation’s first attempt to slash dangerous auto emissions and improve public transport, survived its biggest legal hurdle this week.
A federal judge ruled that federal attempts by the Dept. of Transportation to kill the program by threatening to withhold funds for other projects were illegal.
The ruling was a dramatic victory for NY Gov. Kathy Hochul in her feud with Transportation Secretary Sean Duffy and President Trump over the controversial pricing plan, which has indeed cut traffic while raising millions to help rebuild the city’s subway and bus systems.
While several other legal suits remain, getting past the federal one was the big challenge for the plan, which is now free to continue. Other plans have worked well in cities such as London, though they have also drawn criticism that they are simply new taxes on working people who need to commute.
But the drop in emissions and noticeable decline in choking traffic don’t lie. And the legal victory is another warning to the Trump administration that it simply can’t bully its opponents into submission.
Editor’s picks: Our failed food system; plus, carbon market OKs credits
Watch the video: Data scientist Hannah Ritchie says, “Our food systems are the leading driver of deforestation, the leading driver of biodiversity loss, the leading driver of fresh water use, and the leading driver of water pollution.” We have the tools to fix our food system. Why aren’t we using them?
UN carbon market approves first‑ever issuance of credits
The UN recently approved the first carbon credits for a global carbon market established under the Paris Agreement on climate change, marking a potential turning point for global emissions trading, reports S&P Global Energy Horizons. The credits are for a clean‑cooking project in Myanmar, which distributes efficient cookstoves that reduce harmful household air pollution and lessen pressure on local forests, the UN said in a statement. S&P Global notes the approval of this first project signals that the Paris Agreement Crediting Mechanism has moved from the design phase into active operation, potentially opening new revenue streams for emission-reduction projects across multiple project categories.
Latest findings: New research, studies and projects
Investors signal rising demand for ESG data integration
A new global survey from Morningstar shows ESG and climate data is moving from optional add-ons to core components of investment workflows. Morningstar Sustainalytics says its inaugural State of ESG Data Survey reveals “a financial industry increasingly dependent on actionable sustainability information.” Morningstar Sustainalytics clients surveyed cited ongoing challenges around data quality and coverage, increased demand for regulatory-aligned insights and a shift toward forward-looking climate and nature-related analytics. David Pagliaro, president of Morningstar Sustainalytics, said in a statement, “Our first State of ESG Data Survey shows that standardized ESG disclosures remain critical. However, investors increasingly need forward‑looking insights — particularly on climate risks and nature impacts. Even with shifting political rhetoric in some markets, the underlying demand has not changed: investors want high‑quality, comparable data to understand risks, support meeting regulatory obligations, and to help create long‑term value.”
Words to live by . . . .
“Once upon a time all history was environmental history.” — Sunil Amrith, author and historian.