Investors betting against green trades are going up against the world¡¯s most powerful governments.
The leaders of the biggest economies have over the past week pledged massive cuts on greenhouse gas emissions, paving the way for a torrent of regulation that is set to benefit green stocks and bonds. And it¡¯s likely to deal blows to companies not positioned for the transition to a lower-carbon economy.
During a climate summit on Thursday, U.S. President Joe Biden announced a goal to halve emissions by 2030 on 2005 levels, a vow that could mean penalizing fossil fuel use or mandating renewable power. Canada and Japan raised target cuts to 40% to 46% by 2030, while the U.K. topped that with a vow to slash 78% by 2035.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.