Environment

Biden’s biggest climate threat is U.S. politics

22 Apr 2021

An environmental confab of 40 world leaders returns America to the global stage. Rivals like Xi will attend, though some pledges may be vague. Given Joe Biden’s predecessor showed how easily U.S. vows can be undone, his task is to make promises stick before power shifts again.

New Zealand blends specially bright shade of green

21 Apr 2021

The United States and China are vowing to work together on decarbonisation. JPMorgan and Citi raised their sustainable-finance goals. Investors are pushing harder, too. A Kiwi plan to force banks and money managers to come clean about climate risks neatly ties it all together.

French water fight ends in honourable $15 bln draw

12 Apr 2021

After months of feuding, Veolia is buying the 70% of rival Suez it doesn’t own for 20.5 euros a share. Target boss Bertrand Camus has squeezed a few extra euros from his suitor. Meanwhile Veolia gets to keep its big prize: 500 mln euros of cost savings in North and South America.

Capital Calls: Bling deal

6 Apr 2021

Concise views on global finance in the Covid-19 era: Signet, the owner of jewelers Zales and Kay, is buying rental firm Rocksbox.

The Exchange: Sustainable finance

30 Mar 2021

European bank ING is a leader when it comes to holding borrowers to climate-change commitments. In an interview hosted by the European-American Chamber of Commerce New York, ING Americas CEO Gerald Walker talks to Breakingviews’ Richard Beales about the future of green finance.

Guest view: The EU is tarnishing its green jewel

23 Mar 2021

The European Union’s Taxonomy is supposed to mean stakeholders can differentiate between sustainable investments and carbon-heavy ones. A new plan to treat gas as green is a huge mistake, argues Sandrine Dixson-Declève. It turns a potential global template into a paper tiger.

Breakdown: Carbon border tax isn’t about carbon

22 Mar 2021

Europe and the U.S. look like they are upping their climate game by mulling a levy on high-carbon imports. But it’s also a way to level the playing field. Companies end up with less reason to move to high-polluting places like China; domestic firms get credit for staying.

Banks’ climate pledges suffer from water scarcity

22 Mar 2021

It barely gets a mention in Wall Street’s net-zero goals. Yet water accounts for a good slug of carbon emissions and 90% of global warming-related crises from U.S. droughts to Australia’s floods. Banks can speed toward sustainable finance by paying attention to the resource.

Antipodean wind deal harnesses three power sources

15 Mar 2021

Two companies divvying up New Zealand’s Tilt Renewables for $2.1 bln are paying a 99% premium and 96 times earnings. The scarcity of green assets is one driver. A fragmented market is another. The buyers need their governments to fulfil clean energy pledges to justify the price.

The Exchange: World Bank President David Malpass

9 Mar 2021

The Covid-19 crisis has exposed the economic and other inequities between the world’s richest and poorest countries. The World Bank’s boss discusses these challenges, ranging from vaccination drives and debt relief to the existential threat of climate change, with Rob Cox.

China stagflation meme bodes ill for policymakers

5 Mar 2021

Beijing set a growth target of above 6% for 2021 on Friday, after a post by a famous economist warning of a toxic mix of slower growth and rising prices went viral. With activity cooling, shares down and commodities up, popular anxiety hints at a monetary conundrum.