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9/29/2020

Energy Realism this past week focused on two pillars of the energy and environment debate: California and China.

California’s energy and environmental policies continue to be presented as a “model” for other states—against all evidence. David Kreutzer explains why real options for reducing the intensity and frequency of wildfires continue to be ignored. Over the last several decades, while one party has dominated California’s politics, the state’s forests have become a ticking time bomb – and this summer, the counter hit zero. Pushing back on the common misperception that the wildfires are the result of climate change, Steve Milloy exposes the inconvenient truth: politicians have allowed California to be burned to a crisp instead of practicing sensible forest management.

Many policymakers in other states are still pursuing California’s impractical renewable-energy path. Jonathan Lesser demands a reality check for political leaders along the Atlantic Coast who mandate huge amounts of offshore wind capacity—a choice bound to bring less reliability, higher costs, and reduced economic growth.

RealClear Foundation senior fellow Rupert Darwall identifies another elephant in the room: China as a supposedly “trustworthy partner” on climate change. Simply put, the winner of the presidential election in November has two choices: take Beijing at its word and pursue the illusion of a cooperative China or stand firm against Chinese expansionism.

Realism concludes the week by highlighting a must-read on the hypocrisy of “responsible ESG investors” and their “China blindspot.” This rapidly growing list includes the National Basketball Association, Nike, Apple, Blackrock, and other self-proclaimed “social justice warriors.”

In the News

What the UK’s Target of Net Zero Emissions Would Really Entail

Gautam Kalghatgi, National Review

Tesla Goes Down Leaving Drivers Unable to Connect Cars

Nicole Darrah, The Sun

‘Net-Zero’ a Dream. What Investors Can Do on Climate

Leslie P. Norton, Barron's Next

Cities Promise to Divest From Fossil Fuels

Megan Rowling, Reuters

China Vows Carbon Neutrality by 2060 in Climate Pledge

Staff, Bloomberg

Divisive Carbon Tax Is Before the Courts Again

Editorial, Toronto Sun

ESG Under Fire: Beyond the Investment

Dave Nadig, ETF Trends

In the Fight Over Fossil Investments, Who’s Winning?

Christine MacDonald, Nation of Change

Davos Group Sets New Framework for 'Green' Reporting

Ross Kerber, Reuters

Investing Legend Slams ESG Strategies

John Sullivan, 401K Specialist

Bill Gates: Electric Cars 'Far Easier' Than Other Climate Tech

Taylor Nicole Rogers, Business Insider

Climate Week's Hot Air

Catherine Boudreau, Politico

Stakeholder Capitalism Gets a Report Card. It’s Not Good.

Peter Goodman, The New York Times

John Kerry Takes Climate Fight to Wall Street

Shirley Leung, Boston Globe

Ginsburg's Death Could Reawaken Mass. v EPA

Jennifer Hijazi, E&E News

Multimedia

Child Labor Used to Make Batteries for Electric Cars in Cobalt Mines

CNN

CNN's Nima Elbagir and her team uncovered horrifying evidence of children - some just 9 years old - working in Cobalt mines in Congo.

Why ESG Is Becoming a ‘Business Imperative’ for Asset Managers

Goldman Sachs

“Exchanges at Goldman Sachs” Podcast – Integrating ESG – environmental, social and governance – into asset managers’ portfolios is becoming a “business imperative,” says Richard Manl...

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