Sustainability

Carmaker emissions scandal finds exec pay sequel

14 Jun 2017

Advisers have designed a hidden scheme that would let Renault-Nissan secretly pay bonuses to Chairman Carlos Ghosn and others. It’s unthinkable that such a plan can be implemented. Recent scrutiny over exhaust emissions has already shown that exploiting loopholes doesn’t pay.

Doublethink threatens Chinese green leadership

14 Jun 2017

Donald Trump has gifted China the chance to lead the charge against climate change. But the country must conquer a contradiction. Beijing bureaucrats may love cleantech investment, but as economic growth slows, they fear the costs of regulation and restructuring.

Most of U.S. economic might keeps faith with Paris

2 Jun 2017

Cities and states representing 60 pct of the nation’s GDP have pledged to support the climate accord despite Donald Trump’s withdrawal. They have a big say over local energy policies. Their stance can sustain a shift to a low-carbon economy despite the president’s cold shoulder.

Hadas: Climate not real loser from Trump tantrum

2 Jun 2017

The decision to quit the Paris climate-change accord won’t have a big effect on either global warming or the fight against it. What is truly dangerous is the U.S. president’s frontal attack on the still underdeveloped system of global governance. A vigorous defence is now vital.

Top U.S. CEOs revolt against reality TV version

2 Jun 2017

Donald Trump’s rejection of the Paris climate pact drew swift opposition from corporate bosses, including those of GE and Goldman. The Tesla and Disney chiefs quit his advisory council. Losing business support this early bodes poorly for the administration’s economic promises.

Trump climate exit has bright silver lining

31 May 2017

U.S. support for anti-warming measures will be missed, if its withdrawal from the Paris accord is confirmed. But states, cities and businesses remain on board. And for nearly 200 other countries, including top polluter China, progress may be smoother free of D.C. foot-dragging.

Exxon climate vote puts sector on notice

31 May 2017

Over 60 pct of shareholders backed a move that forces the $340 bln energy giant to ramp up global-warming disclosure, up from under 40 pct in 2016. Exxon already embraces the climate debate more than many in the industry. Holdout peers will have to follow or risk investor ire.

Trump’s Paris accord call will be anticlimactic

26 May 2017

Even if the president pulls the U.S. out of the 2015 agreement, the impact should be limited. Cities, states, companies, investors and other countries will keep the anti-climate-warming momentum going. The bigger hit will be to America’s soft power and, potentially, its economy.

Water investors will get used to cash calls

19 May 2017

Shares in Sao Paulo utility Sabesp plunged on news it may raise equity for post-drought projects. But its funding needs and already high leverage were no secret. With the global water sector requiring $10 trln of investment, this Brazilian capital raise won’t be the last.

Investors may impose a climate change upon Exxon

15 May 2017

Big pension funds are urging the oil giant to assess the impact of climate change on its reserves. Shareholders rejected the idea last year, but passage of a similar measure at Occidental Petroleum last week signaled a shifting tide that even mighty Exxon may not long resist.

China’s green push will drive out weaker carmakers

10 May 2017

Beijing wants to quadruple annual sales of "new energy" cars to 2 mln by 2020, but is scaling back subsidies. Manufacturers will thus have to boost sales and slash costs. Big companies like BYD, backed by Warren Buffett, can ride out the crunch. Smaller outfits may be less lucky.

Death of diesel will contaminate German carmakers

5 May 2017

Sales of new diesel cars are falling sharply in Europe, as talk of selective driving bans in polluted cities is unsettling drivers. Market pressure may force carmakers to phase out diesel much quicker than planned, with negative effects on VW, BMW and Daimler.

Climate ship has sailed despite Trump’s sea-change

28 Mar 2017

The president says man-made global warming is a hoax and he's set to reduce its role in U.S. energy policy. Scientists, consumers, his military and, increasingly, investors disagree. They're well armed to do battle with fresh polar-ice data and advancements in renewable power.

Akzo shareholders, beware the double-Dutch defence

22 Mar 2017

The maker of Dulux paint says a sweetened $24 bln approach by U.S. rival PPG is bad not just for shareholders but the community, customers and employees. It’s hard for a suitor to counter those claims. If such defences become the norm, expect fewer takeovers and lower valuations.

Tesla’s surprise surge lights up China policy risk

15 Mar 2017

The electric carmaker unexpectedly tripled sales in the People's Republic last year to $1 bln. Favourable licence plate policies adopted recently in key cities are a likely factor. For Tesla, China's fast-moving green car rules can be as much an opportunity as they are a problem.

Big Oil drills through White House policy crust

7 Mar 2017

Energy industry bosses, including Exxon's, kicked off their annual Houston hootenanny with reassuring words about the environment and free trade. They notably clashed with the new administration's climate-change and border-tax positions. Global market forces will be hard to move.

Viewsroom: Trump’s management failures

16 Feb 2017

The president's vacillating over firing national security adviser Michael Flynn is the kind of mistake that gets corporate chiefs fired. Toshiba deals its way to a $6.3 bln loss. California's water woes are a national wake-up call. And Wall Street parties like its 2007.

Review: The hollow promise of ending GDP worship

3 Feb 2017

Switching from the touchstone of economics to broader measures of value would be more truthful and could make the world a fairer place, Lorenzo Fioramonti argues. But his optimistic vision overlooks the inevitability of growth and integration – and humans' competitive drive.

Marchionne legacy in Trump administration’s hands

12 Jan 2017

Fiat Chrysler's CEO wants to retire in 2019 with the carmaker nicely profitable and flush with cash. A U.S. agency's charge of emissions cheating, and possible $4 bln-plus fine, could make that roadkill. Appealing to the Trump team's anti-regulatory zeal may be his only chance.

U.S. nuclear closure points to economic meltdown

9 Jan 2017

New York Governor Andrew Cuomo hailed a decision to shut down the Indian Point facility as a win for the environment. Low natural gas prices are what really pulled the plug. Carbon trading might give nuclear energy a fighting chance, but good luck with that under President Trump.